Disney+ Loses 700,000 Subscribers Due to Price Hikes
The Walt Disney Company recently released its first-quarter earnings, and while most numbers looked good, there was a slight dip in Disney+ subscribers. The total paid subscriptions for Disney+ now stand at 124.6 million, down by 700,000 from the previous quarter’s 125.3 million.
This decline coincides with Disney’s decision to raise prices in August 2024. In Singapore, the new prices are as follows:
Disney+ Standard:
– Monthly: From S$12.98 to S$15.98
– Annual: From S$129.98 to S$159.98
Disney+ Premium:
– Monthly: From S$15.98 to S$18.98
– Annual: From S$159.98 to S$189.98
Prior to this increase in August 2024, Disney+ had last raised prices in Singapore in November 2023. While a drop of 700,000 might not seem significant given Disney+’s large subscriber base, it is the first time the platform has seen a decline in numbers.
In comparison, Netflix added over 19 million subscribers during the same period, despite their own price increases last year. This disparity raises concerns for Disney, as Netflix foresees continued growth while Disney anticipates a further decline in subscribers for the upcoming quarter.
It will be interesting to see how Disney navigates this challenge and whether they can maintain their competitive edge in the streaming market.
