Disney+ Faces $300 Million Loss and 1.3 Million Subscriber Drop

Disney+ lost 1.3 million subscribers due to a price hike but reduced streaming losses by $300 million in the last quarter of 2023. The company projects adding 5.5-6 million subscribers by the end of the current quarter. Disney+ Hotstar gained 700,000 subscribers, marking its first growth since a mass exodus last year. Disney aims to reach profitability in its streaming business by the end of the fiscal year and reported $500 million in cost savings for the quarter. The company's revenue from its Entertainment, Sports, and Experiences divisions was $10 billion, $4.8 billion, and $9.1 billion, respectively. Disney's earnings per share exceeded Wall Street forecasts, and the company announced a 50% increase in its cash dividend.