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News on Medial
Streaming subscriber growth in US halved last year
Economic Times
·
1y ago
Medial
Streaming subscriber growth in the US has slowed down significantly, indicating that the streaming boom might be coming to an end in its key market. Premium subscription-video-on-demand growth dropped to 10.1% in 2023, compared to 21.6% in 2022. However, the overall growth in the industry has more than doubled in four years, showing a steady re-subscription trend. Netflix, Peacock, and Paramount+ drove the most growth, with Netflix now representing just over a quarter of the market. The report suggests that the focus of streaming platforms should shift to managing subscribers rather than just acquiring them.
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Related News
Netflix Planning Another Season of Price Hikes, Analysts Say
Gizmodo
·
1y ago
Medial
Wall Street analysts are predicting another price increase for Netflix's streaming service in 2024. UBS analyst John Hodulik expects rate hikes this year, which could lead to a 15% revenue growth for Netflix. The company's recent crackdown on password sharing and the elimination of its Basic plan in certain regions underscores its mission to maximize subscriber value. Despite previous price increases, Netflix has not seen a significant loss in subscribers, and analysts believe it will be able to retain subscribers more effectively than other streaming services due to its extensive library and dedicated fan base.
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Bengali OTT hoichoi witnesses 40% jump in direct subscriptions
Livemint
·
1y ago
Medial
Bengali video streaming platform hoichoi has experienced a 40% increase in direct subscriptions and a 60% surge in individual watch-time per subscriber compared to last year. The platform is set to release 24 original web shows and three theatrical films next year. Aside from its home market in West Bengal, hoichoi is focusing on the Bengali-speaking population in Bangladesh and plans to target diasporic Bengali speakers in the Middle East. The company is also exploring content syndication deals in other languages and has partnered with JioCinema for dubbed Hindi versions of its content.
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Disney to start cracking down on password-sharing from June, CEO Iger says
Reuters
·
1y ago
Medial
Walt Disney's streaming service is set to crack down on password-sharing starting from June, according to CEO Bob Iger. The move aims to boost subscriber growth and profitability. Iger also mentioned the need for consolidation in the streaming industry and projected double-digit margins for Disney's streaming business. This news follows a successful vote of confidence from Disney investors against activist investors, including Nelson Peltz. Iger dismissed criticism from Elon Musk, who supported the activist investors, stating that he ignores it.
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Not enough bang for the binge, Indian streamers flip the script
Economic Times
·
1m ago
Medial
India's streaming industry is shifting back to ad-supported long-format web series due to stagnant subscriber growth and declining margins on premium content. Traditional episodic storytelling aligns better with Indian viewing habits, contrasting with the Western binge-watching trend. Falling subscriptions and production costs, alongside ad-supported content growth, drive this change. Industry challenges include top actors avoiding streaming roles and unchecked piracy. Partnerships like Netflix and Balaji highlight this strategic shift towards cost-effective, familiar formats.
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Disney to start cracking down on password-sharing from June, CEO Bob Iger says
Economic Times
·
1y ago
Medial
Disney CEO Bob Iger announced that the company's streaming service will crack down on password-sharing starting in June, in an effort to boost subscriber growth and profitability. In addition, Iger expressed the need for consolidation in the streaming industry and revealed Disney's goal of achieving double-digit margins in streaming. These statements were made in an interview with CNBC, following a successful proxy vote where Disney investors supported Iger and the board of directors, despite criticisms from activist investors such as Nelson Peltz. Iger also dismissed criticism from Elon Musk, who had backed Peltz in the proxy battle.
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Netflix India’s net profit soars 75% to INR 35 cr in FY23
Inc42
·
1y ago
Medial
Netflix Entertainment Services India LLP, the Indian arm of streaming giant Netflix, reported a 75% increase in net profit to INR 35 Cr in the financial year 2022-23. The company's operating revenue also grew by 24% to INR 2,214 Cr. The rise in revenue is attributed to an increase in subscribers and comes at a time when Disney is in talks with Reliance Industries for a potential merger in the streaming industry. Netflix reduced its subscription plan prices in 2021, leading to improved customer engagement and higher subscriber numbers in 2022.
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Disney gambles on free cricket to turn the tables in India streaming war
Reuters
·
1y ago
Medial
Walt Disney is attempting to revive the fortunes of its streaming business in India by offering free cricket on smartphones, betting that the strategy will boost advertising revenue and offset the impact of a subscriber exodus.
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Star India’s operating losses widen by 45% to $314 mn in June quarter | Mint
Livemint
·
1y ago
Medial
Star India, owned by The Walt Disney Co., reported a widened operating income loss of $314 million in the June quarter of 2023-24, compared to $216 million in the same period the year before. This increase was attributed to higher programming and production costs related to the timing of the ICC Men's T20 World Cup, a decrease in affiliate revenue, and growth in advertising revenue. Disney+ Hotstar, the streaming platform, had 35.5 million paid subscribers at the end of the quarter, with an average monthly revenue per subscriber of $1.05 due to higher advertising revenue.
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Disney follows Netflix's lead, plans to crack down on password-sharing from June
Livemint
·
1y ago
Medial
Disney CEO Bob Iger announced plans to address password-sharing on the company's streaming platform, following in the footsteps of Netflix. The initiative, set to begin in June, aims to boost subscriber growth and profitability. Iger hopes to achieve double-digit margins for the business. This move coincides with Disney's efforts to revitalize its film and TV franchises, achieve profitability in streaming, and establish partnerships for ESPN's digital expansion. Netflix's crackdown on password-sharing led to a surge in subscribers, exceeding expectations with the addition of nearly 22 million subscribers in the latter half of 2023.
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Bottomline: mPokket has got figures to flaunt, but with slight uptick in bad loans
VCCircle
·
1y ago
Medial
Kolkata-based microlending app mPokket has reported a doubling of income in the financial year ended March 2023. However, despite the increase in revenue, the company's profit was halved during that period. Nevertheless, mPokket is expected to bounce back in the financial year 2024 with a similar growth trajectory. The company aims to continue expanding its operations as it tackles the challenge of increasing bad loans.
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