Disney is undoubtedly facing a downturn, and the decline isn’t confined to just one facet. Its most significant assets are losing their charm, and over time, their decisions are leading to a substantial downfall.
Especially in India, Disney’s facilities have borne the brunt, and the ascent of JioCinema has contributed to the downfall of the streaming giant. They lost their HBO streaming rights in the subcontinent, and in the realm of sports, they have emerged as the biggest losers.
The reports for the second quarter are out for Disney+, and they paint a concerning picture for the company. The previous quarter reportedly had 154 million users, but that figure dwindled to 146 million by the end of June.
There was a significant 24% drop in users in India alone, and from a global standpoint, the 7.4% decrease is causing raised eyebrows. Even American and Canadian users are turning away from the brand, with a 1% drop.
Amidst the loss of subscribers, Disney has decided to raise their prices, a move that is likely to generate substantial backlash. The ad-free plan will see a 27% increase, bringing the price to $13.99. However, the ad-supported plan will remain unchanged at $7.99 per month.
While this price hike is currently limited to the European and Canadian markets, the impact on Indian users remains to be seen, and only time will provide an answer.
