{"id":1599820,"date":"2022-08-10T17:54:13","date_gmt":"2022-08-10T21:54:13","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1599820"},"modified":"2022-08-10T17:54:23","modified_gmt":"2022-08-10T21:54:23","slug":"disney-lowers-streaming-subscriber-forecast-sticks-to-profit-target","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/disney-lowers-streaming-subscriber-forecast-sticks-to-profit-target\/","title":{"rendered":"Disney lowers streaming subscriber forecast, sticks to profit target"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdisney-lowers-streaming-subscriber-forecast-sticks-to-profit-target%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1599820&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Lisa Richwine and Dawn Chmielewski<\/p>\n<p>LOS ANGELES (Reuters) -Walt Disney Co lowered its long-term subscriber forecast for Disney+ customers on Wednesday, blaming the loss of cricket rights in India, but stuck with its target date for turning a profit from the company\u2019s big push into streaming television.<\/p>\n<p>To protect streaming margins, the media giant announced it will raise the price of the ad-free version of Disney+ by nearly 38% when it launches an option with advertising in December.<\/p>\n<p>The company now projects between 215 million and 245 million total Disney+ customers by the end of September 2024. That is down from the 230 million to 260 million which Disney had been forecasting.<\/p>\n<p>The adjustment came from reduced expectations for India, where the company is losing streaming rights for Indian Premier League cricket matches.<\/p>\n<p>For the first time, Disney broke out estimates for Disney+ Hotstar customers in India from the rest of Disney+.<\/p>\n<p>Chief Financial Officer Christine McCarthy said Disney expected to add 80 million Disney+ Hotstar customers by September 2024, and between 135 million and 165 million others. <\/p>\n<p>The company still expects its streaming TV unit to turn a profit in fiscal 2024, McCarthy said.<\/p>\n<p>The version of Disney+ with advertising will debut on Dec. 8 at a cost of $7.99 a month, the same price the company now charges for the ad-free version, Disney said. The cost of Disney+ without ads will increase to $10.99 as of that date.  <\/p>\n<p>Prices for Hulu, also owned by Disney, will rise by $1 to $2 per month depending on the plan.<\/p>\n<p>Disney in 2017 staked its future on building a streaming service to rival Netflix Inc as audiences moved to online viewing from traditional cable and broadcast television. <\/p>\n<p>In the just-ended quarter, Disney edged past Netflix in total streaming customers. The Mouse House added 14.4 million Disney+ customers, beating the consensus of 10 million expected by analysts polled by FactSet, as it released \u201cStar Wars\u201d series \u201cObi-Wan Kenobi\u201d and Marvel\u2019s \u201cMs. Marvel.\u201d<\/p>\n<p>Combined with Hulu and ESPN+, Disney said it had 221.1 million streaming subscribers at the end of the June quarter. Netflix said it had 220.7 million streaming subscribers.<\/p>\n<p>Disney posted adjusted earnings-per-share of $1.09, up 36% from a year earlier, as visitors packed its theme parks. Operating income more than doubled at the parks, experiences and products division to $3.6 billion.<\/p>\n<p>Disney\u2019s streaming effort is still losing money, reporting a loss of $1.1 billion for the quarter. That put a drag on the media and entertainment unit, whose profit declined by 32% to nearly $1.4 billion.<\/p>\n<p>Overall revenue rose 26% from a year earlier to $21.5 billion. A consensus of analysts polled by Refinitiv had projected revenue of $20.96 billion. <\/p>\n<p> (Reporting by Lisa Richwine and Dawn Chmielewski in Los AngelesEditing by Kenneth Li, Peter Henderson and Matthew Lewis)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2736384\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/tagreuters.com2022binary_LYNXMPEI790X7-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI790X7-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Lisa Richwine and Dawn Chmielewski LOS ANGELES (Reuters) -Walt Disney Co lowered its long-term subscriber forecast for Disney+ customers on Wednesday, blaming the loss of cricket rights in India,<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1599820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1599820","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1599820"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1599820\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1599820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1599820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1599820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}