Disney lowers subscriber target after IPL streaming rights loss

Media giant Walt Disney revised its latest subscriber guidance for its streaming service Disney+ Hotstar after losing the streaming rights of the Indian Premier League (IPL) to Reliance-backed Viacom18.

The firm revised its subscriber count to 80 million by the end of fiscal 2024 from the projected 100 million.

Meanwhile, the streaming service has added 8.3 million subscribers in the third quarter that ended on July 2, hitting 58.4 million subscribers in India and South East Asia

Disney+ had 44.9 million paid users in the same period last year.

The streaming giant also edged past Netflix with 221 million subscribers at the end of