Walt Disney – the parent company of Disney+Hotstar – reported its earnings for the quarter ended September on Tuesday.
What Happened: As per the company’s filing, the streaming giant’s India units lost around 28 lakh subscribers between July and September. Disney+ Hotstar subscribers stood at 3.76 crore at the end of September, down 7% from the 4.04 crore on July 1. In the past year, the streaming giant has lost close to 2.3 crore subscribers after it lost the IPL rights.
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Disney+ core subscribers (excluding Hotstar) however grew by 7% to 11.26 crore in the September quarter. Disney+ Hotstar’s average monthly revenue per paid subscriber increased from $0.59 (₹48.38) to $0.70 (₹57.4). The company attributed the increase to a lower mix of wholesale subscribers and higher advertising revenue.
Star India’s revenue also took a 21% year-over-year hit in the September quarter. Revenue for the sports broadcasting unit stood at $92 million (₹754.4 crore) down from the $116 million (₹951.2 crore) reported in the same quarter last year. Profits dropped by 30% YoY to $12 million (₹98.4 crore).
The result comes as the House of Mouse is reportedly looking to sell off its India business. The company has been reported to be in talks with several big players like Gautam Adani and Kalanithi Maran, but media reports suggest that Mukesh Ambani is the frontrunner.
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