Disney Plus has lost millions of subscribers since its peak, but the exact number depends on which period you measure
Disney Plus reached its highest subscriber count in late 2022, when the service had roughly 160 million subscribers worldwide. By the end of 2023, that number had fallen to around 150 million. The company has not released a single "total lost" figure, so the number varies depending on whether you measure from the peak or from a specific quarter. What matters more than the raw number is understanding when the losses happened and why.
The service grew rapidly after its November 2019 launch, adding tens of millions of subscribers each year through 2021 and 2022. Growth slowed in 2022 and turned negative in the second and third quarters of 2023, when Disney reported subscriber declines. By late 2023 and into 2024, the company stabilized the subscriber base and began reporting modest growth again, partly through cracking down on password sharing and raising prices.
Key Takeaways
- Disney Plus peaked at around 160 million subscribers in late 2022 and had declined to approximately 150 million by the end of 2023.
- The largest subscriber losses occurred in the second and third quarters of 2023, when the company reported consecutive quarters of decline.
- Price increases, password-sharing restrictions, and competition from other streaming services all contributed to subscriber losses during this period.
- Disney reported returning to subscriber growth in late 2023 and 2024 after implementing stricter account policies and bundling options.
When Disney Plus Subscriber Numbers Peaked and Started Declining
Disney Plus grew steadily from its launch in November 2019 through 2021, adding roughly 30 to 50 million subscribers per year. The service reached approximately 130 million subscribers by the end of 2021. Growth continued into 2022, pushing the total to around 160 million by September or October of that year. This represented the service's highest point.
The decline began in late 2022 and accelerated through 2023. In the second quarter of 2023 (April through June), Disney reported losing 4 million subscribers. The third quarter (July through September) saw another loss of 1.3 million. These were the first back-to-back quarters of decline since the service launched. By the end of 2023, the company had stabilized the base and reported modest growth returning in the fourth quarter.
Why Subscribers Left During 2023
Disney raised prices on Disney Plus multiple times between 2022 and 2023. In December 2022, the company introduced an ad-supported tier at a lower price point, but also raised the price of the ad-free option. In October 2023, Disney raised prices again on both tiers. These increases pushed some subscribers to cancel, particularly those on fixed budgets who were paying for multiple streaming services.
Password sharing had become a major issue for Disney and other streaming platforms. Millions of households shared one account across multiple locations, inflating subscriber numbers without generating revenue. In May 2023, Disney began enforcing restrictions on password sharing, similar to moves Netflix had made months earlier. This policy directly caused subscriber losses in the short term, as shared accounts were forced to convert to paid accounts or cancel entirely.
Competition intensified during this period. Netflix, Amazon Prime Video, and other services were all investing heavily in original content. Some subscribers chose to rotate between services rather than maintain multiple subscriptions year-round, or they cut services they used less frequently. The novelty of Disney Plus had also worn off by 2023, meaning fewer new subscribers were signing up to try the service for the first time.
How Disney Responded to Subscriber Losses
Disney's primary response was to enforce the password-sharing policy more strictly and to introduce bundle options. In October 2023, the company began offering a bundle that combined Disney Plus, Hulu, and ESPN Plus at a discounted rate compared to paying for each service separately. This bundle was designed to increase the perceived value and reduce cancellations among existing subscribers.
The company also shifted focus from growth at any cost to profitability. Disney's streaming division had been losing money for years as the company invested heavily in content and infrastructure. By raising prices, enforcing account policies, and bundling services, Disney prioritized making money from existing subscribers over adding new ones. This strategy appeared to work—by late 2023 and into 2024, the company reported returning to subscriber growth.
Comparing Disney Plus Losses to Other Streaming Services
Disney Plus was not alone in losing subscribers during 2023. Netflix had reported subscriber losses in early 2022 before stabilizing and returning to growth. Other services like HBO Max (now Max) and Paramount Plus also faced subscriber pressure during this period. The entire streaming industry was adjusting to a mature market where growth could no longer be taken for granted.
What distinguished Disney Plus was the scale. Losing millions of subscribers sounds dramatic, but Disney Plus still retained 150 million subscribers by the end of 2023, making it one of the largest streaming services in the world. Netflix, by comparison, had roughly 250 million subscribers at the same time. The losses were significant enough to concern investors and prompt strategy changes, but they did not threaten the service's viability.
What the Numbers Mean for Current and Potential Subscribers
Subscriber losses do not directly affect the quality or availability of content on Disney Plus. The service still produces and licenses thousands of hours of programming. What subscriber trends do indicate is the company's priorities and financial health. When a service is losing subscribers, it often means price increases, fewer new shows, or both may be coming.
Conversely, when a service stabilizes or grows again, it suggests the company believes it has found a sustainable model. Disney's return to growth in late 2023 suggests the company believes its current pricing, bundle strategy, and content investment are working. This does not mean prices will not rise again—they likely will—but it does suggest Disney is not in crisis mode.
Frequently Asked Questions
Did Disney Plus lose more subscribers than Netflix?
No. Netflix lost around 1.3 million subscribers in early 2022 before stabilizing. Disney Plus lost roughly 5 million total across 2023, but from a much smaller base. Netflix still has significantly more subscribers overall. Both services have since returned to growth.
Will Disney Plus raise prices again?
Disney has not announced future price increases, but the company has raised prices multiple times since launch. Streaming services typically raise prices annually or every other year as costs increase. Whether and when Disney raises prices again depends on content costs, competition, and subscriber retention.
Is Disney Plus still worth the subscription cost?
That depends on how much you watch and what content matters to you. Disney Plus offers thousands of hours of programming from Disney, Pixar, Marvel, Star Wars, National Geographic, and other brands. If you watch at least a few shows or movies per month, the cost may be reasonable. If you watch rarely, it may not be.
Can I get Disney Plus cheaper through a bundle?
Yes. Disney offers a bundle combining Disney Plus, Hulu, and ESPN Plus at a lower total price than subscribing to each separately. The exact price depends on which tier of each service you choose (ad-supported or ad-free). Bundles are typically the cheapest way to access all three services.
Why did Disney lose subscribers if it has so much content?
Content alone does not retain subscribers if the price is too high or if people are not actively watching. Many subscribers sign up, watch a few shows, then cancel. Price increases and password-sharing restrictions also forced some households to downgrade or cancel. Subscriber losses are normal in a mature streaming market.