Disney+ lost around 4 million overall subscribers during the most recent quarter, triggering a 9% stock drop on Thursday. Most of the losses came from the Disney+ Hotstar platform, serving India and Southeast Asia, which lost streaming rights to Indian Premier League (IPL) this year. - Disney+ Hotstar dropped 4.6 million subscribers during just this most recent quarter, bringing its total subscriber loss since October of last year to 8.4 million.
- Disney's overall streaming unit lost around $400 million during the company's fiscal second quarter.
- The company otherwise posted profit and revenue that were in line with Wall Street estimates.
- CEO Bob Iger told investors the company will be more careful about its spending on new content, suggested that plans to combine the Hulu and Disney+ services are underway, and indicated that some content might move off of the Disney+ service and back into the infamous "Disney Vault."
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