Disney Plus just lost over one million users in the race to catch runaway streaming rival Netflix

Disney Plus has suffered another significant blow in the race to catch Netflix after the streaming giant posted a 1.3 million decrease in users.

During The Walt Disney Company’s Q1 2024 earnings report, the entertainment behemoth confirmed that Disney Plus’ core subscriber base fell from 112.6 million to 111.3 million in the three-month period running September 2023 to December 2023. In the US, 400,000 fans closed their accounts with the streamer, with the other 900,000 walking away internationally.

This is the second big drop-off in users that Disney Plus has experienced over the past 12 months. In February 2023, Disney Plus originally appeared to lose its magic touch when 2.4 million people opted to end their monthly subscriptions. The streaming titan managed to bounce back in the following months, but this latest decline is sure to have some shareholders worried.

Loki holds a watch and TVA prune stick as he looks at the Temporal Loom in Loki season 2

Hit shows like Loki season 2 couldn’t prevent Disney Plus from losing subscribers. (Image credit: Marvel Studios/Disney Plus)

Disney attributed the downturn to the “substantial price increase” it passed onto Disney Plus’ fanbase in the final few months of last year. In August 2023, Disney revealed it would be raising prices across all tiers of Disney Plus and sister streamer Hulu, with those sharp rises coming into effect in October. You can read more about those cost changes in our Disney Plus price guide.

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