Disney+ saw a significant drop in subscribers in the last three months of last year, losing a total of 700,000 paying users according to a new report. This marked decline is attributed to the many price increases that have been implemented. But despite the setbacks, Disney has wind in its sails, thanks to its success in the cinema with Moana 2, Deadpool & Wolverine, and Inside Out 2, among others.
In other words, financially Disney is more than okay, and the report came as no surprise according to Bob Iger, who as per Variety, said the following:
"Our results this quarter demonstrate Disney's creative and financial strength as we advanced the strategic initiatives set in motion over the past two years.
"Overall, this quarter proved to be a strong start to the fiscal year, and we remain confident in our strategy for continued growth."
During the quarterly report, Iger told shareholders that the company is more than happy with Disney+ and its position at the moment. He said:
"We actually are very pleased with where we are sub-wise for Disney+ and Hulu. As you know, we took prices up significantly fairly recently, and expected the churn would be significantly greater. And it turned out, we delivered numbers that were better than we had expected."
Are you one of the more than 700,000 users who have unsubscribed from Disney+ in the past year?