Disney fires 7,000 employees globally, while it’s business in India marks a loss of 6% paid subscribers

The streaming platform, Disney+Hotstar marks a loss of 6% paid subscribers in India. The platform stood with  61.3 million subscribers in October, to 57.5 million in December 2022. According to reports, this is Disney+Hotstar’s very first fallout after its launch in India ( 3 years prior).

To bring back its audience and user base, the platform is using several tactics. From long duration shows and special series to catering to streaming daily soaps from various Indian channels. The platform streams content in various Indian languages from Hindi, Marathi, Gujarati, Tamil, English, etc.

“We believe the work we are doing to reshape our company around creativity, while reducing expenses, will lead to sustained growth and profitability for our streaming business, better position us to weather future disruption and global economic challenges, and deliver value for our shareholders,”  said Robert Igert.

Referring to further media reports, Hotstar plans on firing 7000 employees globally to bring back the financial balance that it enjoyed a few months back.