Millions of people are dropping traditional TV for streaming services, and now Disney is, too.
The Mouse announced Monday it is terminating 100 international TV channels this year, continuing a restructuring that’s funneling the bulk of its content into its Disney+ service.
The company also closed 30 overseas stations last year and has been consolidating major TV and movie production studios.
Disney’s streaming empire focuses on a few key properties:
- Disney+ — which holds a large library of original, classic, and acquired programs — has over 103 million subscribers.
- ESPN+, with around 14 million subscribers, recently acquired broadcast rights to MLB and La Liga, adding those to a portfolio that includes Bundesliga, PGA Tour, MLS, UFC, Wimbledon, and other major tennis tournaments.
- India-based Hotstar, which is bundled into Disney+ and known for its cricket coverage, accounted for a third of new signups to Disney+ in the fiscal quarter that ended April 3.
Disney CEO Bob Chapek said that the network is being proactive in remaking its content for a streaming-focused world.
Chapek noted earlier in May that Disney+ is on pace for 230-260 million subscribers by the end of 2024. Disney’s Hulu subscriptions grew 30% year-over-year to 41.6 million.
