Disney+ lost over 2 million subscribers during the last quarter of 2022, this decline in users the first major drop for the platform since it launched back in 2019.
Since launching back in November 2019, Disney+ has become one of the biggest and most successful streaming services going around. With a full library of classic Disney TV shows and movies as well as new smash hit shows such as The Mandalorian, Loki, and many more, Disney+ has well and truly cemented its place in the streaming space.
However, the platform has taken a major dip in subscribers, as reported by CEO Bob Iger. During the company’s most recent quarterly report meeting, Iger revealed that 2.4 million subscribers chose not to renew their membership in the final months of 2022.
According to Variety, this is the first time that Disney+ has ever gone into a new quarter with fewer subscribers than the period before it.
In response to this decline, Iger had this to say about what he and the rest of the company are looking to work on and move forward within 2023 and beyond.
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“After a solid first quarter, we are embarking on a significant transformation, one that will maximize the potential of our world-class creative teams and our unparalleled brands and franchises. We believe the work we are doing to reshape our company around creativity while reducing expenses, will lead to sustained growth and profitability for our streaming business, better position us to weather future disruption and global economic challenges, and deliver value for our shareholders.”
Time will tell if this trend continues into 2023. However, with new Marvel shows such as Secret Invasion releasing soon, as well as the hotly anticipated Mandalorian season 3, those who still have their Disney+ subscriptions have lots to look forward to.
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