The Walt Disney Company announced as part of its latest earnings report that it will no longer report paid subscriber numbers for its various streaming services such as Disney+, Hulu, and ESPN+.
In Executive Commentary that was released alongside its Q3 Earnings Report, CEO Bob Iger and Chief Financial Office Hugh Johnston announced, “Among our planned changes, we believe quarterly on the number of paid subscribers and ARPU have become less meaningful to evaluating the performance of our businesses, and we will no longer report these metrics starting with the first quarter of fiscal 2026 for Disney+ and Hulu and the fourth quarter of fiscal 2025 for ESPN. While we will no longer disclose subscribers and ARPU, we will provide information on Entertainment Direct-to-Consumer profitability.”
The duo added, “We believe our reporting going forward will better align with changes in the media landscape, the unique nature of our integrated assets, how we operate our businesses, and will reflect how management evaluates the progress and success of our strategic initiatives.”
This change comes as the company’s Disney+ subscriber numbers have stagnated. In its Q3 Earnings Report, it reported that its domestic Disney+ subscribers were flat at 57.8 million compared to the previous quarter ending on March 29, 2025. It did increase around 5.5% from the same quarter last year when domestic Disney+ subscribers were at 54.8 million.
The company’s Hulu service only saw an increase of 800,00 compared to the previous quarter. It increased from 54.7 million to 55.5 million. In its FY24 Q3 report Hulu had a total of 51.1 million subscribers meaning it increased 8.6% compared to the previous year.
What do you make of Disney stopping their reporting of subscriber numbers and ARPU?
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This is the obvious answer for Disney and Iger. Not so much for the investors.
But anyone still investing in Disney today deserves all the losses. Even my super-risk attracted daughter dumped all her Disney stock - 2 years ago.
Disney is poison. Pure sewage. To make the stinking plates of Disney offerings palatable, they must hide the stink. Mask it, cover it, gaslight you that it isn't really there.
Are you fooled?
Bad sign for Disney.