Tuesday November 28, 2023

Disney Closes 100 TV Stations, Pivot To Streaming Continues

  • Disney is closing 100 international TV channels.
  • The company is focusing its efforts on Disney+ and its other streaming services, which have over 100M subscribers.
Disney/Design: Alex Brooks
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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.

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