Disney is joining the trend set by streaming giants like Netflix by discontinuing the reporting of subscriber numbers for its Disney+, Hulu, and ESPN+ services. The company announced that it will no longer disclose paid subscribers or average revenue per unit (ARPU) for these platforms, stating that these metrics are no longer as relevant in evaluating business performance. The change will take effect starting from the first quarter of fiscal 2026 for Disney+ and Hulu, and from the September 2025 quarter for ESPN+.
In a quarterly earnings commentary, Disney CEO Bob Iger and CFO Hugh Johnston explained that the decision to stop reporting subscriber numbers and ARPU is part of a broader strategy to focus on sustainable growth and align financial reporting with operational practices. Moving forward, Disney will provide information on Entertainment Direct-to-Consumer profitability instead of subscriber metrics.
The company’s streaming revenue for the June 2025 quarter showed a 6% increase, with the segment turning a profit of $346 million. As of the end of June, Disney’s combined Disney+ and Hulu subscribers reached 183 million, marking a growth of 2.6 million compared to the previous quarter. Core Disney+ subscribers reached 128 million, while Hulu subscribers reached 55.5 million.
Looking ahead to the July-September 2025 period, Disney projects a total increase of over 10 million subscribers for Disney+ and Hulu, driven mainly by an expanded deal with Charter. The company anticipates a modest increase in Disney+ subscribers for the current quarter.
By adapting its financial reporting to reflect the evolving media landscape and the unique nature of its integrated assets, Disney aims to better evaluate the progress and success of its strategic initiatives. The decision to shift focus from subscriber numbers to profitability signals a strategic shift in how the company measures and communicates its performance in the competitive streaming market.
