I think we can all agree that streaming services have been pretty competitive when it comes to keeping subscribers engaging more with their platforms. Amid the controversial show cancellations of Netflix and even on HBO, Disney Plus also seems to be suffering their own.
There is no denying that Disney Plus serving as the house for new and old Star Wars and Marvel streaming shows, in addition to the House of Mouse legacy content, has been one of the streaming platform’s reel-in when it comes to garnering subscribers. Disney has come a long way to meet eye-to-eye with Netflix and Prime Video in being the top streaming platforms across the globe, however, still lacks in becoming the number one spot in the streaming world.
According to a new report (via Variety), Disney Plus has lost a total of 2.4 million subscribers during the last three months of 2022. This is the first time the streaming platform has ever suffered a great subscriber loss since its debut back in 2019. As of writing, Disney+ has 161.9 million total subscribers.
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This is not a good look at the platform’s performance, seeing as ever since Bob Iger’s reinstated position as CEO, the new Disney boss promised that they are “embarking on a significant transformation” which would “reshape” their company around more diverse and creative works “while reducing expenses”.
On top of that, Disney is also falling behind at the animation box office, with DreamWorks (under Universal Studios) taking the lead. See, any new Disney animated films failed to acquire above $150 million at the domestic box office, with Puss in Boots: The Last Wish (which is under Universal Studios) procuring past that.
Now, the question lies in what strategy Disney could go for to improve their performance. Although it is worth noting that they are reportedly working on three sequels: Frozen 3, Zootopia 2, and Toy Story 5.