khaskhabar.com : Friday, May 12, 2023 2:31 PM
New Delhi. India’s top streaming service Disney Plus Hotstar lost 4.6 million or 4.6 million subscribers in the fourth quarter of FY2023. This has been said in a report by foreign brokerage CLSA. Disney Plus Hotstar’s subscriber base declined to 52.9 million, with ARPU falling to Rs 48, which led to lower advertising revenue per subscriber.
CLSA said that Disney Plus Hotstar’s lack of subscribers and decline in ARPU is due to it losing the digital rights of IPL from 2023.
Reliance Industries-owned Disney and Viacom18 have bagged the media rights of India’s biggest sporting event IPL for five years starting 2023.
In the last five years, Disney Star had the TV and digital rights of IPL. This fight will escalate. Both have paid $3 billion for the rights.
The Guardian reports that Disney has said its flagship streaming service lost 4 million subscribers in the first three months of the year.
Subscribers to Disney Plus services fell by about 158 million from January to March, following a net loss of 2.4 million in the previous three months, leading to a second quarter of subscriber losses. Analysts had expected Disney Plus to add more than 1 million subscribers in the quarter. Shares fell nearly 5 per cent in the trade.(IANS)
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