Disney also posted quarterly revenue below expectations and fell slightly behind analyst projections for U.S. subscribers of Disney+.
A sign is shown at one of the entrances to Disney Studios in Burbank, California, U.S., July 25, 2023.
It added 800,000 Disney+ subscribers, 100,000 subscribers shy of analyst estimates, and shed 12.5 million subscribers to the Disney Hotstar service in India, or nearly a quarter of its subscribers, as it gave up rights to Indian Premiere League cricket matches.
Disney's direct-to-consumer business reported a 9% increase in revenue to $5.5 billion, as the average revenue per subscriber rose at Disney+ and Hulu.
The unit had lower operating income at its domestic parks, due to decreases at Walt Disney World Resort in Orlando, Florida.
Persons:
Walt Disney, Bob Iger, ’, “, I've, ” Iger, Wall, Iger, Mike Blake, Jesse Cohen, Dawn Chmielewski, Chavi Mehta, Aditya Soni, Peter Henderson, Sayantani Ghosh, Matthew Lewis
Organizations:
ESPN, Disney, Hulu, Netflix, Disney Studios, REUTERS, Indian Premiere League, Investing.com, Shanghai Disney Resort, Walt Disney World, Thomson
Locations:
Hollywood, Europe, Canada, Burbank , California, U.S, India, Disney's, Orlando , Florida, Los Angeles, Bengaluru