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.
It’s the second quarter in a row in which Hulu lost that amount of subscribers. In the same period, Fubo said it lost 118,000 subscribers, while Dish’s Sling TV lost 2 million subscribers.
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.