Disney+ closed the quarter with 146.1 million subscribers, against 158 million in the first three months of this year, according to data from the group.
Its rival Netflix recently reported that its subscriptions increased by almost six million in the wake of its crackdown on password sharing.
“Despite the short-term headwind, I have incredible confidence in Disney’s long-term trajectory,” Chief Executive Officer Bob Iger said on an earnings conference call.
Iger told financial analysts that streaming, movie studios and theme parks will fuel its growth over the next five years.
The loss of all but a small portion of Disney+ subscribers was recorded in India, where the company lost broadcast rights to popular cricket matches earlier this year.
“It’s important to remember where we started and how we’ve adapted based on what we’ve learned,” Iger said of Disney+.
“From the start we exceeded expectations with massive subscriber growth for Disney+ and were frugal in the level of spending to drive subscriber growth.”
FOUNTAIN: With information from AFP
