The Walt Disney Company's Disney+ streaming service reportedly experienced a big minus as it lost 300,000 subscribers in the U.S. and Canada.
The entertainment giant reported on Aug. 9 that domestic Disney+ subscriptions fell by 300,00 for the fiscal third quarter, dropping to 46 million subscribers as of writing. Worldwide subscriptions declined by 24 percent for the same period, mostly spurred by the end of Disney's deal with Indian streaming platform Hotstar.
"The domestic subscriber decline signals rough waters ahead for Disney as U.S. numbers have been stagnating for the past few quarters, indicating that the domestic market has likely reached its peak less than three years after the platform launched in 2019," wrote Breitbart's David Ng. He noted that rival streaming service Netflix boasts around 76 million domestic subscribers as of writing.
Incidentally, Breitbart reported in May that Disney+ lost four million global subscribers in the first three months of 2023. The entertainment giant racked up a total of 157.8 million subscribers worldwide, falling short of Wall Street's estimated 163.2 million subscribers.
The May 10 piece also penned by Ng mentioned that Disney+ lost $659 million for the aforementioned period. This was a marked improvement over the $1 billion loss it reported during the last three months of 2022.
In a bid to recoup losses, Disney is reportedly hiking the streaming service's monthly subscription fee from $10.99 to $13.99 – a 27 percent increase. The new $13.99 monthly rate is set to take effect in October. Last year, Disney increased the subscription fee from $7.99 to the current $10.99.
According to Ng, the drop in domestic subscription numbers serves as "an ominous sign for the studio as it continues to pour billions of dollars into new streaming content that is flopping with viewers. Overall, Disney's streaming business continues to bleed money with no sign of profitability in sight." (Related: Disney is on the verge of financial collapse, leaked memo reveals.)
Disney+ content plays a huge role in its collapse
The Breitbart writer pointed out that Disney "continues to spend billions of dollars on new streaming content that receives a tremendous amount of hype, but often ends up flopping with viewers." He cited several examples to back up his point.
One example is the series "Willow," based on the 1988 fantasy film of the same name. It was canceled after just one season and then removed completely from the platform. "National Treasure: Edge of History," a spin-off of the film series starring Nicolas Cage, was also axed after one season.
Even shows under the Star Wars and Marvel franchises are faring poorly. "Secret Invasion," which stars Samuel L. Jackson, only attracted 994,000 U.S. households in its first five days of release. It became the second-lowest-rated Marvel Series after "Ms. Marvel." The feminist series starring Canadian actress Iman Vellani only drew 775,000 households over a similar period.
According to Breitbart's Ng, the kind of content shown on Disney+ also plays a huge role in its continued losses. He noted: "Once-faithful Disney customers are now turning away from the company as it continues to embrace woke identity politics – particularly transgenderism, drag queens and other types of gender nonconformity."
One example he cited was the Marvel series "Loki," which boasted of a "gender-fluid" character. Another example is the "Baymax" series that features a "transgender man" who menstruates. This character also gave advice as to what menstrual pad to buy – "the one with wings."
Ng ultimately cited a Nielsen study, which found that the top 15 most-watched streaming series for 2022 did not list any shows from the Marvel or Star Wars franchises. The only Disney+ show that made it to the list was "The Simpsons."
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