Disney+ lost a whopping 1.3 million subscribers in the final quarter of 2023 amidst a price increase and crackdown on password sharing.
The company recently released its financials for the last quarter of 2023 (via Variety), and in it revealed that Disney+ Core subscribers — which include consumers in the U.S. and Canada, as well as international users outside of India — dropped down to 111.3 million users, a decrease from 112.6 million that the company previously reported the prior quarter.
Despite the drop in subscribers, however, the company still expects to add a ton more in 2024. According to Disney, they project to add anywhere between 5.5 million and 6 million Disney+ Core subscribers by the end of Q1 2024, which runs through March.
The company also reported that it narrowed its streaming business losses by $300 million during Q4 2024.
Disney+ faced criticism for price hikes, password sharing crackdown
Disney+’s subscriber loss comes at a time when the streaming platform is facing backlash from fans. In 2022, the company increased the price of its ad-free tier. Then last year, the company announced plans to crack down on people sharing passwords with one another in order to access the streaming platform.
“We are actively exploring ways to address account sharing and the best options for paying subscribers to share their accounts with friends and family,” Disney CEO Bob Iger said at the time. “Later this year, we will begin to update our subscriber agreements with additional terms and our sharing policies. And we will roll out tactics to drive monetization sometime in 2024.”Two years ago
