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Disney falls on Wall Street after reduction in subscribers to its streaming platform

Disney shares fell sharply this Thursday on Wall Street after the entertainment giant recorded significant drops in the number of subscribers to its main streaming platform in the first quarter, one of its big bets.

An hour after the opening, the company’s titles were left almost 9%, by far the largest drop among the thirty values ​​that make up the Dow Jones, the main index of the New York stock market, which today was sailing lower.

Disney’s losses came after the company presented its accounts for the first half of its fiscal year after the stock market close on Wednesday, when it had profits of US$ 2,550 million (2,321 million euros), 62% more year-on-year.

In addition, it announced an improvement in the finances of its streaming segment, which increased its quarterly revenue to 5,514 million (12% more) and reduced its operating losses by 26% to 659 million.

However, there was a general reduction in subscribers, since the Disney+ platform, the main one, lost 4 million subscribers, down to 157.8 million, and Hulu and ESPN+ had slight increases, standing at 48.2 million and 25.3 million. of subscribers

According to analysts, these were the data that today punished the company in the markets, which yesterday also announced that it plans to combine the content of its on-demand content services Disney + and Hulu in a single application that will be available in the US. later this year.

Source: Elcomercio

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