After Three Consecutive Quarterly Declines, Disney+ Subscribers Increase as of November 2023

A Statista report shows that Disney+ global streaming subscribers reached 150.2 million in November 2023.

This figure represents a 2.8% increase from the 146.1 million subscribers in Q3 2023. The November 2023 figure also marks the first increase after three consecutive quarterly declines since the beginning of 2023.

"Accelerated subscriber growth is helping Disney further reduce its streaming losses as they aim for profitability in Q4 2024," wrote Felix Richter, a data journalist from Statista, in his report on Thursday (November 9, 2023).

The graph shows that subscribers in early 2021 reached 94.9 million. The number steadily increased, reaching 164.2 million subscribers in Q4 2022. This was the highest number since Disney+ launched in late 2019.

Statista notes that since Bob Iger's return as CEO, he has been pursuing his mission to improve the profitability of Disney's streaming business. This business is seen as an integral part of the company's future.

“In our zeal to chase subscribers, I think we may have been too aggressive in terms of promotion,” Iger said earlier in 2023, as quoted by Statista. Iger acknowledged that the recent Disney+ price increase resulted in subscriber losses.

The streaming service is projected to gain 60 to 90 million subscribers in 2024, an estimate that Statista considers very low given the existing achievements.

Statista suggests that the pandemic may have contributed to Disney's faster-than-expected growth.

"Like Netflix, Disney+ likely benefited from governments urging citizens to stay home and limit recreational activities amid the COVID-19 pandemic," Statista wrote.

During the pandemic, Disney was forced to double down on its direct-to-consumer business. Disney+ is the heart of this strategic shift. Between Disney+, Hulu, and ESPN+, Disney had 225 million paid streaming subscribers at the end of the last quarter.

"This contributed to a 13% year-over-year increase in direct-to-consumer revenue," Statista wrote.

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