Disney+ lost 700,000 subscribers worldwide in recent months, according to Disney's earnings results for the first quarter of 2025.
Disney said it now has 124.6 million Disney+ subscribers, a decrease of 0.7 million compared to its subscriber numbers in the fourth quarter of 2024. The drop in subscribers comes after Disney+ prices increased in the fall. Disney+ with Ads went from $7.99 to $9.99, while Disney+ Ad-Free went from $13.99 to $15.99.
Disney also began cracking down on Disney+ password sharing in September, introducing a "Paid Sharing" plan in the United States, Canada, and parts of Europe. The system restricts account usage to members of a single household, ending support for use across multiple households unless the primary subscriber pays an additional fee.
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.
For the second quarter of 2025, Disney expects Disney+ subscriptions to see another decline. While Disney+ subscriptions were down, Hulu gained 1.6 million subscribers, during the quarter, reaching 53.6 million total paid subscribers.
Disney's overall revenue grew 4.8 percent during the quarter, largely thanks to Moana 2, which earned more than $1 billion in theaters.
