Disney fans, overwhelmed by inflation, are hitting the “cancel” button en masse.
The Disney+ streaming service lost 1.3 million subscribers worldwide in the final three months of 2023 as steep price hikes hit fans’ wallets hard. In the US and Canada alone, the streamer said goodbye to her 400,000 customers. This is the largest decline in his Disney+ history reported domestically.
For Disney, this decline is a big blow. Disney has poured billions of dollars into its streaming service without ever achieving profitability. Domestic Disney+ subscription numbers have stagnated at about 46 million for the past year, an ominous sign for the just-four-year-old streaming service.
The left-field studio recently increased the monthly subscription price for Disney+ from $10.99 to $13.99. This is a 27% increase. In 2022, the price increased from $7.99 to $10.99. This means monthly costs for Disney+ subscribers have increased by a total of 75% in less than two years.
The most recent price increase took place in October.
Like other streamers, Disney is trying to force a $7.99/month ad-supported option on subscribers. This is the old price for Disney+ without commercials. Studios make more money from ad-supported streaming options because there is revenue from commercials in addition to the monthly subscription fee.
There are currently 111.3 million Disney+ subscribers worldwide, but this does not include HotStar customers in India. It’s still a long way from Netflix, which boasts about 260 million customers worldwide.
Disney announced Wednesday that its streaming services (which also include Hulu) lost $216 million in the final three months of 2023. This marks an improvement from recent quarters, when the company lost more than $1 billion on streaming.
Disney faces a disastrous 2023.
From an unprecedented series of box office failures to continued streaming woes, the woke company failed to make a comeback after an even more disastrous 2022.
Disney also spent 2023 reinforcing gay and transgender messages to children. As reported by Breitbart News, GLAAD recently announced that Disney (and Netflix) have produced more LGBTQ content than any other major Hollywood studio.
Disney will carry out its largest ever layoffs in 2023, cutting 7,000 jobs worldwide in a disaster aimed at restoring the company’s financial footing.
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