Disney Feels The Heat In India As 8.4M Streaming Subscribers Jump Ship In 6 Months
This story was originally published on the Benzinga India portal.
Disney+ Hotstar, a leading streaming platform in India, has lost nearly 8.4 million subscribers in the past six months, according to data from CNBC-TV18. Walt Disney Co. (NYSE:DIS) reported a 2% drop in overall Disney+ subscribers, with memberships falling from 161.8 million to 157.8 million.
What Happened? Disney+ Hotstar in India experienced an 8% membership drop during the quarter ending April 1, losing 4.6 million members and reducing the total subscriber base to 52.9 million. This marks the second consecutive quarter with subscriber losses, which coincides with the platform losing the rights to broadcast the IPL and HBO content.
See also: JioCinema New Destination For HBO Shows? Reliance Said To Lure Warner Bros To An Exclusive Deal
In June last year, Mukesh Ambani's Reliance Industries-owned Viacom18 secured the IPL broadcasting rights, leading analysts to estimate a potential loss of 15-25 million subscribers for Disney+ Hotstar. The platform also ended its partnership with HBO, removing popular shows such as Succession, Game of Thrones, and Westworld.
Why It Matters: Reliance Industries' JioCinema has seen significant growth, amassing over 500 million viewers and nearly matching YouTube's monthly viewership. During the first weekend of the T20 league, JioCinema was downloaded over 50 million times. JioCinema signed a deal with HBO for its content and launched original content in local languages.
Additionally, Jio Studios revealed a lineup of 100 new films and TV shows, including web originals and mini-series. As JioCinema gains popularity and the OTT space becomes more competitive, Disney+ Hotstar may continue to see a decline in its subscriber base.
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