Disney+ is reportedly falling tens of millions of subscribers short of its last publicly stated 2024 target, according to Bloomberg.
- Then-CEO Bob Chapek set a goal of 215 million to 245 million subscribers back in August of 2022.
- Disney management has reportedly said the streamer will fall short of that target as Disney+ loses subscribers to price increases and the loss of cricket streaming rights in India.
- Current Disney CEO Bob Iger said in February the company will no longer be sharing subscriber forecasts.
- In 2020, Disney set the subscriber goal for the end of fiscal 2024 at 260 million but lowered that target last year.
- Disney+ ended the third fiscal quarter with 146.1 million subscribers.
- Disney has managed to narrow its losses in its streaming division by hundreds of millions of dollars recently, due in large part to those price increases.
- Bloomberg points out Disney’s efforts for that division to reach profitability as early as next year.
- Disney also recently reached an agreement with Charter Communications Inc. that will see the cable provider package Disney+ with the Spectrum TV service.
- The deal will add millions of Disney+ subscribers.
- Other key elements of that deal include:
- ESPN+ will be provided to Spectrum TV Select Plus subscribers.
- The ESPN flagship direct-to-consumer service will be made available to Spectrum TV Select subscribers when it launches.
- Charter will maintain flexibility to offer a range of video packages at varying price points based upon different customer viewing preferences.