Disney's Streaming Services Face Subscriber Losses and Strategic Changes.
Disney shares fell by 9% after the company reported a loss of four million Disney+ subscribers during the most recent quarter, despite posting profit and revenue that were in line with Wall Street estimates. The subscriber loss was offset by price increases, which led to a narrowing of operating losses at the streaming unit by $400 million for the fiscal second quarter. However, Wall Street expected a gain of more than one million Disney+ subscribers, according to StreetAccount, and the surprise subscriber loss spooked the Street.