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Disney+ adds subscribers amid cost-cutting campaign

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Disney's streaming service has attracted nearly seven million new subscribers, the company said Wednesday, reversing a period of decline that had raised doubts about its rivalry with industry leader Netflix. Those efforts saw Disney's streaming losses contract to $387 million in the most recent quarter, down from $1.47 billion a year earlier.

Fans are reflected in Disney+ logo during the Walt Disney D23 Expo in Anaheim, California in September 2022. Photo: Patrick T.

Disney Plus clients rose to 112.6 million at the end of September from 105.7 million at the end of June."Our results this quarter reflect the significant progress we've made over the past year," Iger said, pointing to the success of Disney+'s recently added ad-supported tier."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," Iger said.

Disney last month said it will become the sole owner of Hulu, which it already markets in subscriptions that include its own Disney+ service and the ESPN+ sports content streaming platform. Hollywood script-writers signed a deal with the studios and are back on the job, but the actors are still not back on set, resulting in a huge backlog of Hollywood productions.

 

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