khaskhabar.com : Thursday, 09 November 2023 12:02 PM
New Delhi. Disney Plus Hotstar lost 2.8 million subscribers in the quarter ended September 30. Disney CEO Bob Iger has said that despite this he would like to remain in the Indian market.
Disney Plus Hotstar had 37.6 million subscribers in the third quarter, down from 40.4 million in the second quarter in India this year.
Speaking to analysts after quarterly results late on Wednesday, Iger said that in India, “our linear business is actually quite good”.
“I know I’ve said this before, this always bothers me,” Iger told analysts. But we are considering our options. We have an opportunity to strengthen our hand. It is now perhaps the most populous country in the world or perhaps still second only to China and about to overtake them.”
He said that the company would like to remain in the Indian market.
“But we are also looking to see if we can strengthen our hand and obviously improve the end result,” he said. In terms of advertising, we’re actually finding that linear is a little bit stronger than we expected.
The CEO said, “It is still a challenge, but it is not as bad as it was before. So, we have seen some minor improvements. Actually, the tech sector is still somewhat weak. But in general advertising overall has improved.”
Disney Plus Hotstar is set to garner more subscribers in the ongoing festive quarter in India with the streaming of the 2023 ICC Men’s Cricket World Cup.
The Walt Disney Co.’s revenues grew 5 percent and 7 percent for the quarter and year globally, respectively. Disney Plus added nearly 7 million core subscribers in the quarter.
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