Disney said it plans to stop reporting subscribers numbers with its quarterly reports, calling the numbers less meaningful to evaluating its business following Netflix move to do the the same.
“We are focused on managing our businesses to deliver growth in a sustained way, and to align our
financial reporting with how we operate. Since we began reporting the number of paid subscribers and
ARPU, our DTC strategy and the operating environment have evolved. Given this evolution, we plan to
implement changes to our Entertainment and Sports financial disclosures. Among our planned changes,
we believe quarterly updates on the number of paid subscribers and ARPU have become less meaningful
to evaluating the performance of our businesses, and we will no longer report these metrics starting with
the first quarter of fiscal 2026 for Disney+ and Hulu and the fourth quarter of fiscal 2025 for ESPN+.
While we will no longer disclose subscribers and ARPU, we will provide information on Entertainment
Direct-to-Consumer profitability,” said Disney CEO Bob Iger and CFO Hugh Johonston in a earnings commentary along with the fiscal third quarter numbers.
“We believe our reporting going forward will better align with changes in the media landscape, the
unique nature of our integrated assets, how we operate our businesses, and will reflect how management evaluates the progress and success of our strategic initiatives.”
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