Bob Iger affirms Disney's commitment to India

Bob Iger expressed Disney's interest in maintaining a presence in India and exploring strategies to strengthen its position. He shared this sentiment on Wednesday, highlighting that while Disney's TV business in the country remains profitable, its prized streaming service, Hotstar, is grappling with a decline in subscribers.
Hotstar experienced a loss of 2.8 million subscribers in the quarter ending in September, contributing to an overall decline of approximately 23 million subscribers over the past year. During this time, Disney+ continued to attract new subscribers, adding nearly 7 million in the quarter and reaching an overall subscriber base of over 150 million worldwide, including Hotstar subscribers.
Disney anticipates a potential increase in Hotstar's subscriber count in the next quarter, currently standing at 37.6 million subscribers.
The company is moving closer to finalizing a deal with Reliance to divest its India business, as reported by Bloomberg, in an effort to mitigate losses.
Iger revealed during the analyst meeting that the company intends to cut an additional $2 billion in costs beyond previous plans as it works to reduce losses in its streaming business. Disney aims to achieve profitability in the streaming sector in approximately a year.
Disney's primary business in India revolves around its portfolio of several profitable cable TV channels. Iger said: "Our linear business actually does quite well, it's making money." However, he acknowledged that other aspects of the business face challenges, and Disney is actively exploring various options to strengthen its position in the Indian market.