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Random freezes, missing sound and display glitches usually trace back to one bad driver. Find and replace yours safely.Free scan · under a minuteDisney+ had 125 million subscribers on December 28, 2024, a sequential decline of 700,000 from the previous quarter. Disney reported the result on February 5, 2025. The company also reported higher average monthly revenue per paid subscriber, citing price increases. Those figures show the timing and business context, but they do not establish that price increases alone caused every cancellation.
What Disney reported about the 700,000-subscriber decline
The figure refers to Disney+ subscribers, not a combined Disney+ and Hulu total. Disney’s Q1 FY2025 ended December 28, 2024; its earnings release reported 125 million Disney+ subscribers, down 0.7 million from Q4 FY2024. The decline is sequential—a comparison with the immediately preceding quarter—not a year-over-year figure. Disney’s Q1 FY2025 earnings release announced the result on February 5, 2025.
How price increases fit the result
Disney reported that average monthly revenue per paid subscriber rose in both domestic and international Disney+. The company cited price increases in both cases. Its figures describe revenue per paid subscriber, not the number of subscribers, and do not by themselves explain why individual customers stayed or canceled.
| Disney+ scope | Average monthly revenue per paid subscriber | Disney’s explanation |
|---|---|---|
| Domestic | $7.70 to $7.99 | Price increases, partly offset by a higher mix of promotional subscribers |
| International | $6.78 to $7.19 | Price increases and higher advertising revenue, partly offset by promotional mix |
These are the Q1 FY2025 comparisons in Disney’s earnings tables. They provide evidence that monetization per paid subscriber increased while the overall subscriber count fell. They are not a measure of how much any particular customer paid, nor a causal accounting of the cancellations.
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What Disney’s CEO said about churn
On the February 5, 2025 earnings call, CEO Bob Iger said Disney expected churn to be significantly greater after recent price increases, but that results were better than expected. He was discussing Disney+ and Hulu together: “We actually are very pleased with where we are sub wise for Disney+ and Hulu. As you know, we took prices up significantly, fairly recently, and expected the churn would be significantly greater, and it turned out we delivered numbers that were better than we had expected.” The official earnings-call transcript does not make this combined-service comment a Disney+-only subscriber result.
Did Disney+ subscribers recover afterward?
In Q2 FY2025, Disney reported that Disney+ subscribers increased by 1.4 million from Q1, reaching 126.0 million. That subsequent increase appears in the company’s May 7, 2025 earnings release. It is a later quarter’s movement, not proof of what caused the previous quarter’s decline or a guarantee of a lasting recovery.
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Why older subscriber figures need care
Disney said it added nearly 7 million Disney+ core subscribers in Q4 FY2023, according to its November 8, 2023 earnings release. That is useful historical context, but it covers a different period and uses the “core subscribers” description. It should not be treated as a like-for-like comparison with the 125 million Q1 FY2025 total.
The 125 million figure is a dated Q1 FY2025 result, not a current subscriber update. Disney’s Q1 FY2026 release, dated February 2, 2026, does not establish the latest subscriber total or reporting policy as of October 8, 2026: Disney Q1 FY2026 earnings release.
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