Shillong, November 9: Bob Iger, Disney’s CEO, has affirmed the company’s desire to maintain a presence in the Indian market despite Disney+ Hotstar experiencing a decline of 2.8 million subscribers in the quarter ending September 30. The streaming platform saw a decrease from 40.4 million subscribers in Q2 to 37.6 million subscribers in Q3 in India.
As per IANS, during discussions with analysts following the quarterly results, Iger acknowledged the challenges in certain aspects of the Indian market while highlighting the success of their linear business. He emphasized that although the linear segment is profitable, other components present challenges, prompting the company to explore strategic options to enhance its position in the market.
Iger noted the importance of India as one of the most populous countries globally, expressing the company’s intention to stay in the market. However, he also mentioned the ongoing evaluation of options to strengthen their position and improve financial performance.
Despite challenges, Iger highlighted some positive trends, noting a slight improvement in advertising, particularly in the linear sector. Additionally, with the streaming of the 2023 ICC Men’s Cricket World Cup on Disney+ Hotstar, the platform is expected to gain more subscribers in the festive quarter in India.
Globally, The Walt Disney Company reported a 5% and 7% growth in revenues for the quarter and year, respectively. Disney+ contributed to this growth by adding nearly 7 million core subscribers in the quarter.