Disney+ Hotstar Loses 2.8 Million Subscribers In India, But CEO BOB Iger Says Will Stay In The Country
Disney+ Hotstar saw 37.6 million subscribers in the September quarter, down from 40.4 million subscribers in the second quarter this year.
Over the Top (OTT) platform Disney+ Hotstar is currently facing challenges in India as the streaming platform is seeing its steepest decline in subscribers in the country. In the quarter ending September, Hotstar saw a loss of 2.8 million subscribers, contributing to an overall loss of approximately 23 million over the year. Despite the falling number of users, Disney's CEO Bob Iger is optimistic about India, the media has reported. In a statement on Wednesday, Iger expressed the company's interest in continuing its presence in the country, exploring various options, even amidst the struggles of its primary streaming service, Hotstar, to retain its subscriber base.
Meanwhile, despite this decline, Disney+ managed to attract nearly 7 million new subscribers, thus, elevating its global subscriber base to over 150 million, including those from Hotstar. Disney+ Hotstar saw 37.6 million subscribers in the September quarter, down from 40.4 million subscribers in the second quarter this year.
During an interaction with analysts after the quarterly results on Wednesday, the company CEO said that in India, its linear business "actually does quite well".
“Yes, it's making money. But we know that other parts of that business are challenged for us and for others. And we are looking, I'll call it expensively.
“I know I've said this before, it always gets me in trouble. But we're considering our options there. We have an opportunity to strengthen our hand. It is now maybe the most populous country in the world or maybe just still second to China and about to pass them,” Iger was quoted as saying by analysts.
The 2023 ICC Men's Cricket World Cup is being streamed on Disney+ Hotstar and this islikely to attract a good number of subscribers during the current festive quarter in India.
Streaming giant and Disney Hotstar+ rival Netflix, meanwhile, is again increasing its prices, like a recurring fashion. Announced last month to shareholders, the streaming service revealed its intention to up prices on certain subscription plans, stating that the adjustments would be effective immediately for both new and current customers.
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