Disney’s financial year is between October 2022 to September 2023.
The platform’s average monthly revenue per paid subscriber increased from $0.59 to $0.70 due to a lower mix of wholesale subscribers and higher advertising revenue.
Disney’s loss of subscribers is likely due to the streaming service losing the rights to the Indian Premier League – which moved to JioCinema – and the non-renewal of its content deal with HBO, which has also moved to its Reliance competitor.
Star Sports – the media company’s India sports broadcasting arm – saw its operating profit shrink 29% YoY to $12 million while revenue fell 21% YoY to $92 million. The India sports business reported an operating loss of $444 million for the nine-month period ending July 1. It earned $637 million in revenue during the period under review.
For the fiscal ended September, Walt Disney’s operating profit rose 6% to $12.8 billion while revenue increased 7% to $88.8 billion. Revenue from the streaming business, including Disney+ Hotstar, increased 12% to $21.9 billion while operating loss decreased 35% to $2.6 billion.Walt Disney-owned Star India’s consolidated net profit for FY23 has dropped 31% year over year to Rs 1,272 crore compared to Rs 1,834 crore in the previous fiscal. While the company’s operating revenue from TV and digital businesses increased by 6% to Rs 19,857 crore, its total income increased by 9% to Rs 20,699 crore.
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