Disney+ Hotstar lost around 12.5 million subscribers for its third quarter that ended on July 1, as the absence of cricket content on its platform continues to pinch it harder. The April-June period is the third consecutive quarter in which Disney+Hotstar has lost a significant number of subscribers. International Channels revenues for the quarter decreased 20 per cent to $1.2 billion, and operating results decreased to a loss of $87 million from income of $166 million. The decrease in advertising revenue was due to lower rates attributable to Indian Premier League (IPL) cricket programming, the company said in its earning report late on Wednesday.
Disney+Hotstar had 40.4 million subscribers at June-end, down nearly 21 million since October last year.
"We actually have been looking at multiple markets around the world with an eye toward prioritising those that are going to help us turn this business into a profitable business. What that basically means is there are some markets that we will invest less in local programming but still maintain the service," said Bob Iger, Disney CEO.
