With more streaming choices than ever, subscribers are switching to different platforms continuously. As viewers continue to cut the cord and test out new platforms, Hulu + Live TV saw a drop of 100,000 subscribers during the first month of 2024, according to Disney’s reported earnings.
The subscriber drop isn’t the first time that Hulu’s live TV streaming platform saw a six-figure decrease in subscribers. In the first quarter of 2023, Disney reported that 100,000 subscribers had said bye to the service, which was a 2% drop from the end of 2022. However, by the end of 2023, Hulu + Live TV was able to bounce back to around 4.6 million subscribers. Factoring in the latest self-reported loss, the live TV streaming platform has around 4.5 million subscribers.
As viewers shift and try out different services, the news comes shortly after the Leichtman Research Group’s latest study that concluded YouTube TV gained more subscriptions in 2023 than Fubo, Hulu + Live TV, and Sling TV combined.
Even with the loss in Hulu + Live TV subscribers, this was the first time that Disney+ and Hulu became profitable. Disney reported that in Q2, the two platforms that made headlines after merging ended the quarter with a $47 million profit. However, when added with ESPN+, the streaming bundle lost $18 million during the quarter. On top of this, Disney and Comcast are also attempting to agree on a final sale price for Hulu.
As Disney continues to adventure into the streaming world, the company will take more steps to achieve profit with its platforms. With plans to partner ESPN with FOX and WarnerBros Discover for a new sports-centered streaming venture, Disney looks to offer new ways to deliver live content outside of Hulu’s service. However, other streaming platforms, such as Fubo, have sued to prevent the mega-sports streaming platform from the trio.
Hulu + Live TV is known as one of the best overall streaming services available as it offers over 95 live channels, including popular sports, entertainment, news, and lifestyle networks. For $76.99 per month, you get access to those channels, unlimited DVR storage, thousands of movies and shows from the libraries of Disney+ and Hulu, and live sports on ESPN+.