The season ticket rush comes at a cost, and it’s not just cheap. After a noticeable loss of subscribers at the end of 2022, Disney+ announced the layoff of 7,000 employees.
2.4 million subscribers less
In all, these are no less than 2.4 million subscribers who unsubscribed from the platform with big ears between October and December last year. Disney+ would thus have fallen to 161.8 million subscribers worldwide (For comparison, count Netflix 223 million subscribers second The world.)
If this period of loss represents a turning point in the history of the platform that launched just 3 years ago, it is because, so far, Disney+ has gained millions of subscribers every quarter.
Offset this loss with layoffs and publicity
The company, which employed 190,000 people worldwide in 2019 (of which 80% full time) decided to cut 7,000 jobs to compensate for this loss. Bob Iger, the general manager of Disney justified this decision during a conference call:
“We believe the work we are doing to transform our business around creativity while reducing expenses will deliver sustainable growth and profitability for our streaming business. »
In addition to cutting work, Disney + has also bet on creating a cheaper subscription, including advertising, to attract new subscribers despite the economic crisis. According to estimates by the market research company Smart insiderthis new formula is expected to bring more than a billion dollars in advertising revenue to Disney+ in the United States.
Featured Image Credit: © Disney
Source: Madmoizelle
Mary Crossley is an author at “The Fashion Vibes”. She is a seasoned journalist who is dedicated to delivering the latest news to her readers. With a keen sense of what’s important, Mary covers a wide range of topics, from politics to lifestyle and everything in between.
