Disney+ Hotstar added 8.3 million subscribers in the company’s third fiscal quarter, which ended July 2, with 58.4 million subscribers. India and Southeast Asia. The Walt Disney Company updated its customer guidance for Disney+ Hotstar to 80 million by the end of its fiscal year 2024. “We intend to refine this goal over time as customer visibility in India becomes clearer post ICC and BCCI cricket rights. “The sale process is complete,” said Bob Chapek, chief executive officer of The Walt Disney Company.
“As you know, we have recently made the disciplined decision not to proceed with the Indian Premier League digital rights, and we will evaluate these rights with the same discipline,” he told analysts late Wednesday night at the company’s earnings release. Said during the call. Disney+ Hotstar The country had 44.9 million paid users in the same period last year. Chapek said, “We are excited to continue offering IPL to our linear customers in India, where the growth potential exists for our portfolio of over 70 channels, which account for 90 percent of pay cable and satellite TV homes in the region. reaches.”
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“Pay TV distribution continues to be a strong business in India, with projected GDP growth expected to drive advertising and consumer spending,” he added. Chapek said that India is one of the only markets in which “we are launching new linear channels”.
“Ultimately, looking at the results of our recently completed Upfront, it is clear that our unmatched portfolio is being highly sought after by advertisers,” he said. Overall, Disney+ subscriptions rose to 152.1 million for the third fiscal quarter ended July 2, and the streaming giant added 14.4 million new subscribers in the April-June period.
The company lowered its 2024 forecast for Disney+ to between 215 million-245 million subscribers. It had earlier set customer guidance at 230 million-260 million by the end of fiscal 2024. “With 14.4 million Disney+ subscribers added in the fiscal third quarter, we now have 221 million total subscriptions,” Chapek said.
The company said the number of international Disney+ subscribers increased by 6 million to 49.2 million. Disney also announced an increase in the price of an ad-free Disney+ subscription to $10.99 per month in the US starting December 8. The price change will coincide with the launch of the streaming service’s upcoming ad-supported plan, which will cost $7.99 per month.
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