Disney+ Hotstar has finally witnessed a surge in paid subscribers following the loss of digital streaming rights to the IPL (Indian Premier League) last year.
During the first quarter ending December 30, 2023, Disney's streaming platform Hotstar saw a growth of 0.7 million paid subscribers, bringing its total subscriber base to 38.3 million. This expansion was attributed to heightened usage during the ICC Cricket World Cup 2023.
Although, the core Disney+ subscribers decreased by 1% to 46.1 million.
Initially boasting 61.3 million subscribers by the end of September 2022, it has witnessed a downturn since Disney Star lost digital streaming rights to the IPL to its competitor Viacom18 last year.
In its quarterly earnings report last August, Disney revealed a loss of over 12 million streaming subscribers in India within a three-month period. This decline was attributed to customer cancellations following the loss of IPL rights.
Furthermore, Disney+ Hotstar experienced an 83% increase in average monthly revenue per paid subscriber, rising from $0.70 to $1.28 compared to the previous quarter. The company attributed this surge to augmented advertising revenue and adjustments in retail pricing, though it was somewhat countered by a larger proportion of subscribers from lower-priced markets, as highlighted in its Q1 earnings release on Thursday.
Disney follows an October to September financial year.