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Earnings report: Disney+Hotstar adds 700,000 subscribers and rise in average revenue per user

The rise in average monthly revenue was a byproduct of “higher advertising revenue and increases in retail pricing, partially offset by a higher mix of subscribers from lower-priced markets.”

Disney+Hotstar added 0.7 million subscribers in the first quarter of financial year 2024 (Q1FY24, ending on December 2023). This took the streaming service's subscriber base from 37.6 million in the previous quarter to 38.3 million. While this quarter has marked a 2% improvement in subscriber count, previous quarters have reflected a significant decline in Disney+Hotstar's performance losing 7% subscribers in Q4FY23 ( September 2023) and 23.6% in Q3FY23. Average monthly revenue per paid subscriber for the service has also increased this quarter, going from $0.70 as of September 2023, to $1.28 this quarter. The rise in average monthly revenue was a byproduct of "higher advertising revenue and increases in retail pricing, partially offset by a higher mix of subscribers from lower-priced markets." Why it matters: Reports suggest that Disney India is currently in the process of merging with Viacom 18 (a part of Reliance). Following this merger, the two are expected to establish India’s largest media and entertainment business. This merger would lead to a consolidation of the Indian streaming landscape and could potentially lead to the merged player having major market control. As such, it is important to look at Disney's performance to better understand the potential impact of this merger on the Indian media and entertainment industry and on consumers' choices and access to content. How are Disney's other content services performing? Disney’s combined revenue from its direct-to-customer (Disney+, Disney+ Hotstar, and Hulu) as of this quarter was $5,546 million, marking a 15% improvement in the company's revenue…

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