Disney+ Subscriptions down by 1.3 Million but Hulu Up by 1.2 Million. The Walt Disney Company‘s First Quarter Earnings report is being released now, with an earnings call starting in 5 minutes.
We are reading through the report now and will share anything news. So far it looks like Disney+ has lost some subs, but it was kind of offset by Hulu gaining subs. At the same time, it looks like The Walt Disney Company is looking at the 4th quarter for its streaming business to finally turn a profit.
Hulu subscribers increased by 1.2 million from the prior quarter. Disney+ Core subscribers decreased sequentially by 1.3 million, in line with prior guidance and reflecting a substantial price increase in the quarter and the end of the global summer promotion.
Disney+ Core ARPU increased sequentially by $0.14 versus the fourth quarter.
We expect Disney+ Core subscriber net additions of between 5.5 and 6 million and ongoing positive momentum in ARPU in the second quarter.
We continue to expect to reach profitability at our combined streaming businesses in the fourth quarter of fiscal 2024 and are making tremendous progress in this area, with first-quarter Entertainment DTC operating losses improving by nearly $300 million versus the prior quarter. We believe this business will ultimately be a key earnings growth driver for the Company.
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Disney+
Disney+ is the dedicated streaming home for movies and shows from Disney, Pixar, Marvel, Star Wars, and National Geographic, along with The Simpsons and much more. In select international markets, it also includes the general entertainment content brand, Star, and in the U.S., Disney Bundle subscribers can also access extensive Hulu content, including next-day TV and Hulu Original titles, on Disney+.
The flagship direct-to-consumer streaming service from The Walt Disney Company, Disney+ offers an ever-growing collection of exclusive originals, including feature-length films, documentaries, live-action and animated series, and short-form content. With unprecedented access to Disney’s long history of incredible film and television entertainment, Disney+ is also the exclusive streaming home for the newest releases from The Walt Disney Studios.
Disney+ is available as a standalone streaming service, as part of the Disney Bundle in the U.S. that gives subscribers access to Disney+, Hulu, and ESPN+, or as part of Combo+ in Latin America with Star+, the standalone general entertainment and sports streaming service in the region. For more, visit disneyplus.com, or find the Disney+ app on most mobile and connected TV devices.
