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Streaming subscriber growth in US halved last year

Economic Times

Economic Times · 1y ago

Streaming subscriber growth in US halved last year

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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Bengali OTT hoichoi witnesses 40% jump in direct subscriptions

Livemint

Livemint · 1y ago

Bengali OTT hoichoi witnesses 40% jump in direct subscriptions

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.

Netflix Planning Another Season of Price Hikes, Analysts Say

Gizmodo

Gizmodo · 1y ago

Netflix Planning Another Season of Price Hikes, Analysts Say

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.

Disney to start cracking down on password-sharing from June, CEO Iger says

Reuters · 1y ago

Disney to start cracking down on password-sharing from June, CEO Iger says

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.

Not enough bang for the binge, Indian streamers flip the script

Economic Times

Economic Times · 2m ago

Not enough bang for the binge, Indian streamers flip the script

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.

Disney to start cracking down on password-sharing from June, CEO Bob Iger says

Economic Times

Economic Times · 1y ago

Disney to start cracking down on password-sharing from June, CEO Bob Iger says

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.

Netflix India’s net profit soars 75% to INR 35 cr in FY23

Inc42 · 1y ago

Netflix India’s net profit soars 75% to INR 35 cr in FY23

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.

Disney gambles on free cricket to turn the tables in India streaming war

Reuters · 2y ago

Disney gambles on free cricket to turn the tables in India streaming war

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.

Star India’s operating losses widen by 45% to $314 mn in June quarter | Mint

Livemint

Livemint · 1y ago

Star India’s operating losses widen by 45% to $314 mn in June quarter | Mint

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.

Disney follows Netflix's lead, plans to crack down on password-sharing from June

Livemint

Livemint · 1y ago

Disney follows Netflix's lead, plans to crack down on password-sharing from June

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.

Can Netflix keep flexing its pricing muscle?

Livemint

Livemint · 10m ago

Can Netflix keep flexing its pricing muscle?

Netflix's third-quarter results showcase its success in the streaming market, with a $2.9 billion operating profit and higher-than-expected revenue and subscriber growth. The stock rose 5%, but some investors are looking for potential price hikes as Netflix currently offers a cheaper ad-supported plan compared to its competitors. However, Netflix has expressed its love for the low price point and increased accessibility of its ad plan, indicating that a major price increase may not be imminent. Nonetheless, with an aim to reach 300 million paid members soon, the streaming giant will face challenges in attracting new viewers.

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