Canceled: Disney+ Loses 1.3 Million Subscribers After Hiking Prices More Than 25 Percent

Breitbart Reports: Disney fans battered by inflation are hitting the “Cancel” button in droves.

The Disney+ streaming service lost 1.3 million subscribers worldwide during the last three months of 2023 as a steep price hike took a toll on fans’ wallets. In the U.S. and Canada alone, the streamer bid goodbye to 400,000 customers — Disney+’s largest-ever reported domestic decline.

The drop represents a major hit for Disney, which has been pouring billions of dollars into its streaming services without yet reaching profitability. Domestic Disney+ subscriptions have stagnated at around 46 million for the past year, an ominous sign for a streaming service that is only four years old.

The left-wing studio recently hiked Disney+’s monthly subscription price to $13.99 from $10.99 — a 27 percent increase. In 2022, the price rose to $10.99 from $7.99, which means Disney+ subscribers saw their monthly bill climb a total of 75 percent in less than two years.

The latest price increase took effect in October.

Like other streamers, Disney is trying to force subscribers to its ad-supported option, which costs $7.99 a month — the old price for Disney+ without commercials. Studios make more money from ad-supported streaming options due to the revenues from commercials on top of the monthly subscription fees.

Disney+ subscribers worldwide currently stand at 111.3 million, which doesn’t include HotStar customers in India. That’s still a long way off from Netflix, which boasts around 260 million customers around the world.

On Wednesday, Disney announced that its streaming services — which also include Hulu — lost $216 million for the final three months of 2023. That represents an improvement over more recent quarters, when the company was losing more than $1 billion on streaming.

Disney is coming off a disastrous 2023.