{"id":7907,"date":"2023-05-12T15:19:34","date_gmt":"2023-05-12T19:19:34","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/disney-shares-fall-most-since-igers-return-after-streaming-subscriber-losses\/"},"modified":"2023-05-12T15:19:35","modified_gmt":"2023-05-12T19:19:35","slug":"disney-shares-fall-most-since-igers-return-after-streaming-subscriber-losses","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=7907","title":{"rendered":"Disney shares fall most since Iger’s return after streaming subscriber losses"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: An inflatable Disney+ logo is pictured at a press event ahead of launching a streaming service in the Middle East and North Africa, at Dubai Opera in Dubai, United Arab Emirates, June 7, 2022. REUTERS\/Yousef Saba\/File Photo<\/span>
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By Aditya Soni<\/p>\n

(Reuters) -Walt Disney Co shares ended down more than 8% on Thursday as a surprise drop in streaming subscribers fanned worries that the media and entertainment company could be sacrificing growth in its bid to stem losses.<\/p>\n

The decline erased about $16 billion from the company’s market value and marked the stock’s sharpest single-day fall since Bob Iger’s return in November as Disney CEO. Shares of Warner Bros Discovery (NASDAQ:) and Paramount Global fell more than 3%.<\/p>\n

“Disney+ is losing less money not because it’s gaining subscribers but because of its price hikes and better cost management,” said Mike Proulx, an analyst at Forrester.<\/p>\n

“Cutting marketing dollars is at odds with growing subscribers.”<\/p>\n

Operating losses at the streaming unit narrowed by $400 million in the second quarter from the previous three months, helped by a price hike last December in the U.S. and Canada.<\/p>\n

The company plans to raise the price of the ad-free Disney+ service again this year and it will also remove certain low-viewership content from its services to cut costs.<\/p>\n

“Some investors might question this tactic given Disney just lost subscribers,” said KeyBanc Capital Markets analyst Brandon Nispel.<\/p>\n

“However, it seems the goal is to drive more subscribers toward Disney+’s ad-supported tier … which the company believes could improve monetization.”<\/p>\n

HOTSTAR DRAG<\/p>\n

In the second quarter, Disney+ shed about 4 million subscribers, compared with Visible Alpha estimates for net additions of 1.3 million. The company said the softness could extend into the current quarter.<\/p>\n

The losses were driven by an exodus from the South Asia-focused Disney+ Hotstar offering after it lost the streaming rights to the Indian Premier League cricket matches.<\/p>\n

Those subscribers are seen as less valuable to Disney as they generate lower average revenue per user.<\/p>\n

“Investors understand that Hotstar customers don’t generate as much revenue but the loss was unexpected and growth outside of India was anemic,” said Paul Verna of Insider Intelligence.<\/p>\n

Veteran media analyst Michael Nathanson, however, said the company could do without the Disney+ Hotstar subscribers.<\/p>\n

“Investors would be better off with a smaller total addressable market of higher paying customers. This is a more logical, albeit less sexy, path.” <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: An inflatable Disney+ logo is pictured at a press event ahead of launching a streaming service in the Middle East and North Africa, at Dubai Opera in Dubai, United Arab Emirates, June 7, 2022. REUTERS\/Yousef Saba\/File Photo By Aditya Soni (Reuters) -Walt Disney Co shares ended down more than 8% on […]<\/p>\n","protected":false},"author":1,"featured_media":7908,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-7907","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nDisney shares fall most since Iger's return after streaming subscriber losses | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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