Disney layoffs are happening. So are production delays due to the writers strike. The company had some more bad news to investors yesterday afternoon.
It turns out its streaming service, Disney+, lost four million subscribers during the second quarter of 2023, bringing the total to 157.8 million subscribers, compared to 161.8 million subs in the previous quarter. Analysts expected a subscriber growth of 163.17 million.
Last quarter, Disney+ also had a subscriber loss of 2.4 million subscribers. This has never happened before, at least since the streaming platform launched in 2019.