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CTOnews.com, Feb. 9 (Xinhua) Disney streaming service Disney+ lost 2.4 million subscribers in the fourth quarter of 2022, the first decline since the service was launched.

According to Walt Disney's latest quarterly report, the entertainment giant had revenue of $23.5 billion and net profit of $1.3 billion for the quarter ended December 31.

Disney CEO Robert Iger (Robert Iger) delivered a speech, which CTOnews.com translated as follows:

After a solid quarter, we are embarking on a major transformation that will maximize the potential of our world-class creative team, as well as our unparalleled brands and franchises.

We believe that we are reshaping the company around creativity while reducing spending, which will lead to continued growth and profitability of our streaming business, better respond to future chaos and global economic challenges, and create value for our shareholders.

At the end of the quarter, Disney+ had 1.618 billion paying users, down 1 per cent from a month earlier; paid Hulu users grew to 48 million, up 2 per cent from a month earlier; and paid ESPN+ users grew to 24.9 million, up 2 per cent from a month earlier.

The average monthly expenditure per paying Disney+ user was $3.93, an increase of 1% from the previous month, and an increase of 2% from the previous month. Hulu with live TV increased to US $87.90, increased by 1% from the previous month to US $5.53, and increased by 14% from the previous month.

Disney said the decline in Disney+ subscribers was due to a decline in its Disney+ Hotstar business in India, which lost streaming rights to IPL cricket matches last year.

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