Disney has released its earnings results for the first quarter of 2025, and it reveals that the company’s Disney+ streaming service lost 700,000 subscribers worldwide in recent months.
Disney said it now has 124.6 million Disney+ subscribers, down 0.7 million from its fourth quarter of 2024 subscriber numbers. The drop in subscribers comes after the streaming service increased its subscription prices in the fall. Disney+ with Ads increased from $7.99 to $9.99, while Disney+ Ad-Free jumped from $13.99 to $15.99.
Disney+ also began cracking down on password sharing in the last quarter of 2024, introducing a “Paid Sharing” plan in the United States, Canada, and parts of Europe.
Q1 2025 marked the first quarter where Disney+ lost subscribers since the service launched, but Disney CEO Bob Iger said during an earnings call discussing the results that the subscriber churn was not as bad as expected.
Disney expects Disney+ subscriptions to see another decline during the second quarter of 2025. While Disney+ subscription numbers fell, Hulu subscriber numbers increased by 1.6 million during the quarter, with 53.6 million total paid subscribers.
Disney’s overall revenue grew 4.8% during the quarter, largely thanks to the release of Moana 2, which earned more than $1 billion at the box office.
