The Walt Disney Company saw a dip in streaming subscribers across all three of its domestic streaming services during its third financial quarter of the year.
On Wednesday, Disney saw 300,000 customers leave its Disney Plus streaming service in the United States and Canada. Its sports-centric service, ESPN Plus, logged 100,000 fewer subscribers, while its cable TV replacement Hulu with Live TV lost another 100,000 customers.
In the domestic market, only the video on-demand version of Hulu — which doesn’t include live TV channels — saw a growth in subscribers, with Disney reporting 44 million Hulu subscribers, an increase of 1 percent.
In terms of financial performance, Disney surpassed Wall Street’s earnings per share projections, yet came up short on revenue. The company’s financial report indicated total revenue of $22.3 billion, marking a 4 percent increase from the same period in the previous year. Operating income declined 6 percent to $3.6 billion.
“Our results this quarter are reflective of what we’ve accomplished through the unprecedented transformation we’re undertaking at Disney to restructure the company, improve efficiencies, and restore creativity to the center of our business,” said Disney CEO Bob Iger He continued: “While there is still more to do, I’m incredibly confident in Disney’s long-term trajectory because of the work we’ve done, the team we now have in place, and because of Disney’s core foundation of creative excellence and popular brands and franchises.”