Disney+ Hotstar saw a drop of 6% to 57.5 million in the October to December quarter from 61.3 million.
New Delhi: Disney+ Hotstar will stream the third season of its India original Aashikana from February 27. The romantic crime thriller stars Zain Ibad Khan, Khushi Dubey, Pankaj Singh, Geeta Tyagi, Vipul Deshpande, Geeta Bisht, Anshul Singh, Anshu Srivastava, Indrajit Modi, Manohar Teli and Harshita Shukla.
The Walt Disney Company plans to cut its workforce by 7,000 as its video streaming platform Disney+ lost 1% paid subscribers in the October to December quarter from 164.2 million to 161.8 million. Disney+ Hotstar, as the service is known in India and other Asian countries such as Malaysia, Thailand and Indonesia, saw the number of subscribers fall 6% to 57.5 million from 61.3 million.
Average monthly revenue per paid subscriber for international Disney+ (excluding Disney+ Hotstar) decreased from $5.83 to $5.62 due to an unfavorable foreign exchange impact, the company said in a statement. Average monthly revenue per subscriber for Disney+ Hotstar increased from $0.58 to $0.74 due to higher per-subscriber advertising revenue.
Bob Iger, who was reappointed as Disney's chief executive in a surprise move last November, said the company is considering a strategic reorganization, where there will be three main business segments: Disney Entertainment, ESPN, and Disney Channel. Disney Parks, Experiences and Products.
“These organizational changes will be implemented immediately, and we will begin reporting under the new business structure by the end of the fiscal year. This reorganization will result in a more cost-effective, coordinated and streamlined approach to our operations. 5.5 billion in cost savings," Iger said during the earnings call, adding that nonmaterial cost reductions would total $2.5 billion, not adjusted for inflation.
“$1 billion in savings is already underway.. In general, the savings will come from reductions in SG&A (selling, general and administrative expenses) and other operating costs across the company. To help achieve this, we will reduce our workforce by approximately 7,000 jobs. On the content side, we expect to save approximately $3 billion over the next few years, excluding sports," Iger added.
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