Aug 9, 2023

Disney to expand ads on streaming as business flags

Disney is raising prices and expanding adverts in its streaming service, as it struggles to revive its business. Subscriptions to its core Disney+ service grew 1% to 105.7 million, as growth internationally offset a 1% decline in the US. Its Disney Hostar service in India, which has been struggling since losing the right to show cricket matches, saw subscriptions plunge 24%, while other offerings, including ESPN and Hulu saw little change. "Disney's mixed results will do little to calm investors anxious for clarity on the company's strategy for its streaming services and TV networks," said Insider Intelligence analyst Paul Verna. "While it's encouraging that Disney narrowed its streaming losses in the past quarter, it did so mostly through massive reductions in workforce and content spending, rather than through organic growth." Despite the weakness in the US, Paolo Pescatore, analyst at PP Foresight, said he did not think the mixed results reflected a major toll from Disney becoming a flashpoint in America's culture wars, describing the fight as an "Unwanted distraction".

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