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Here's What Disney's CEO Bob Iger have to say about India marker as Disney's situation in India is critical which could also led to selling of few assets, watch our take on new Exclusive on HBI Word
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The negative turn in the U.S. company’s digital fortunes was partly its own choosing. It allowed itself to be outbid last year, handing the streaming rights for Indian Premier League cricket through to 2027 to Ambani. And in April JioCinema signed a deal picking up premium content from HBO which Disney previously aired. Subscribers on the Disney+ Hotstar app.
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Disney’s India-focused OTT platform saw its paid subscriber base plunge 24% to 40.4 million in the April-June quarter compared to 52.9 million a quarter ago.
It had 61.3 million subscribers in Asia at the end of September 2022. A large majority of it came from India, making it the largest streamer by user base in the country, way ahead of rivals Amazon Prime Video (approximately 20 million) and Netflix (approximately 6-7 million).
“Disney+ Hotstar subscribers declined this quarter as we adjusted our product from one centered around the IPL to one more balanced with other sports and entertainment offerings. I would also note that this business with its significantly lower ARPU compared to core Disney+ is not a material component of our overall D2C financial results,” said Interim Chief Financial Officer Kevin Lansberry, at the post-result earnings call early on Thursday.
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