Disney+ Hotstar Crosses 50 Mn Paid Subscriber Mark
- ByStartupStory | May 13, 2022
Disney + Hotstar, a key player in India’s Over the top (OTT) ecosystem, has more than 50 million subscribers. Walt Disney Company (Disney), the parent company of Disney + Hotstar, reported quarterly revenue reports ending April 2, 2022, with a total quarterly paying subscriber of $ 0.76 (INR 58.83) compared to $ 0.49 (INR), the corresponding quarter of last year.
However, this number is still very low when compared to the average monthly revenue for all Disney+ paying users. According to the latest revenue report, Disney+’s average monthly revenue per paying user, excluding Disney + Hotstar, was $ 6.33.
“We ended the quarter with nearly 138 Mn global paid Disney+ subscribers, reflecting close to 8 Mn net additions from Q1. A little over half of those net adds were from Disney+ Hotstar, which benefited from the start of the new IPL season towards the end of the second quarter,” Bob Chapek, chief executive officer of Disney, said in post-earnings call.
Meanwhile, streaming giant Netflix ended the March quarter with 200,000 fewer subscribers. However, Ted Sarandos, co-CEO, chief content officer of Netflix, said that the company has seen a “nice uptick in engagement in India”.
Disney+ competes against Netflix and Amazon Prime Video in the international as well as the Indian market. Among the homegrown OTT platforms, Disney+ Hotstar competes with ZEE5, Voot, MX Player, ALTBalaji, SonyLIV, among others, in the Indian market.
India`s OTT revenue is expected to grow to about $4.5 Bn by 2026 from $1.9 Bn in 2021, as per analysts at Media Partners Asia. According to a FICCIEY report, 40 Mn Indian households paid for 80 Mn OTT video subscriptions in 2021.
Recently, Paramount Global (formerly ViacomCBS) also announced that it would launch its global streaming service Paramount+
in India in 2023. As part of the company’s global expansion plans for streaming services, Paramount+ will be launched in India in partnership with Viacom 18.
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