No Cricket: Disney+Hotstar Loses 12.5 Mln Subscribers

NEW DELHI, (IANS) – Disney+ Hotstar lost around 12.5 million subscribers for its third quarter which ended on July 1, as the absence of cricket content on its platform continues to pinch it harder.

The April-June period is the third consecutive quarter in which Disney+Hotstar has lost a significant number of subscribers. International Channels revenues for the quarter decreased 20 percent to $1.2 billion, and operating results decreased to a loss of $87 million from income of $166 million.

The decrease in advertising revenue was due to lower rates attributable to Indian Premier League (IPL) cricket programming, the company said in its earnings report late on August 10.

Disney+Hotstar had 40.4 million subscribers at June-end, down nearly 21 million since October last year.

“We actually have been looking at multiple markets around the world with an eye toward prioritizing those that are going to help us turn this business into a profitable business. What that basically means is there are some markets that we will invest less in local programming but still maintain the service,” said Bob Iger, Disney CEO.

“What I’m saying is not all markets are created equal. And in terms of our march to profitability, one of the ways we believe we’re going to do that is by creating priorities internationally,” he added.

Overall, the Walt Disney Company reported that revenues for the quarter and nine months grew 4 percent and 8 percent, respectively.