Today’s earnings report for Q4 2023 and FY 2023 for The Walt Disney Company have shared that Disney reached 150 million streaming subscriptions by the end of the quarter, up from 146.7 million the previous quarter, according to Variety.
Today, Wednesday, November 8, 2023, Disney Reported core Disney+ subscriptions are at 112.6 million as of September 30, and Disney+ Hotstar sits at 37.6 million.
Hulu comes in at 48.5 million subscribers, with ESPN+ following at 26 million.
Disney’s streaming business lost $387 million in Q4, however.
Per Variety, Wall Street forecast earnings per share (EPS) of 68 cents on $20.1 billion in revenue, with Disney reported diluted EPS of 82 cents on $21.2 billion in revenue.
Our results this quarter reflect the significant progress we’ve made over the past year. While we still have work to do, these efforts have allowed us to move beyond this period of fixing and begin building our businesses again. We have a solid foundation of creative excellence and innovation built over the past century, which has only been reinforced by the important restructuring and cost efficiency work we’ve done this year, and we’re on track to achieve roughly $7.5 billion in cost reductions. Combined with our portfolio of valuable businesses, brands and assets – and the way we manage them together – Disney has a strong hand that differentiates us from others in our industry. As we look forward, there are four key building opportunities that will be central to our success: achieving significant and sustained profitability in our streaming business, building ESPN into the preeminent digital sports platform, improving the output and economics of our film studios, and turbocharging growth in our parks and experiences business. We have already made considerable advancements in these four areas and will continue to move forward with a sense of purpose and urgency, and I’m bullish about the opportunities we have before us to create lasting growth and increase shareholder value.
CEO Bob Iger, in a letter to shareholders
Disney stock closed today at $84.49 per share. At 4:30 p.m. ET, Disney will host its earnings call to discuss the quarter’s results in more detail, so stay tuned for updates.