Disney’s Hulu is continuing its retreat.
The media giant said on Wednesday that Hulu lost 100,000 live TV subscribers to a total of 4.3 million. The total number of streaming video on demand customers rose by 300,000 to 44 million.
Even as more customers cut the cord and embrace streaming services, the sheer number of options available — from streaming giant Netflix to free ad-based Pluto — means there are smaller slices available for all of the players.
Disney has banked on the bundle of ESPN+, Hulu and Disney+ to drive growth to all of the services, but that doesn’t appear to be the case anymore. ESPN+ lost 100,000 customers and Disney+ domestic service lost 300,000 subscribers.
Disney CEO Bob Iger teased potentially merging the apps, and the company is reportedly considering spinning ESPN off as a standalone company.
In total, Disney posted a net loss of $460 million, or 25 cents a share, compared with a year-earlier profit of $1.41 billion, or 77 cents a share. Revenue rose to $22.3 billion vs. $21.5 billion a year ago. Excluding one-time items, per-share earnings were $1.03 a share.
Analysts, on average, forecasted earnings of 95 cents a share on revenue of $22.5 billion, according to Yahoo Finance.