As part of its Q4 2023 results, The Walt Disney Company revealed it has added what it describes as 7 million “core” Disney Plus subscribers in the fourth quarter.
The company said “core” Disney Plus subscriptions reached 112.6 million as of 30th September, while the India-based Disney Plus Hotstar is at 37.6 million.
The ad-supported version of Disney Plus added 2 million subscribers in the quarter to reach a total of 5.2 million. More than 50 per cent of subscribers signing up in the quarter opted for the ad-supported version of Disney Plus, the company said.
In its earnings report, Disney said it continues to expect its combined streaming businesses will reach profitability in Q4 of FY24, “although progress may not look linear from quarter to quarter”.
“As we look forward, there are four key building opportunities that will be central to our success: achieving significant and sustained profitability in our streaming business, building ESPN into the preeminent digital sports platform, improving the output and economics of our film studios and turbocharging growth in our parks and experiences business,” said Disney CEO Bob Iger.
“We have already made considerable advancements in these four areas and will continue to move forward with a sense of purpose and urgency, and I’m bullish about the opportunities we have before us to create lasting growth and increase shareholder value.”
The company also revealed plans to launch a beta version of a Disney-Hulu bundle in the United States in December.
However, analyst Paolo Pescatore tells TVBEurope the bundle is unlikely to be launched in Europe. “Disney Plus is already an established brand so it makes sense to strengthen the range of programming through this platform,” he adds. “This will cement it as the one-stop shop destination for users. Therefore, expect to see similar moves in Europe behind this brand.”
