Disney stops reporting streaming subscriber numbers

Disney has confirmed that it will no longer report subscriber counts for Disney Plus, Hulu, and ESPN Plus in its quarterly earnings. Instead, the company will shift its focus toward streaming profitability. This change comes as Disney follows in the footsteps of Netflix, emphasizing that subscriber numbers are no longer the most important metric for evaluating the success of its streaming business.

Disney streaming services shift focus to profits

Disney’s leadership, including CEO Bob Iger and CFO Hugh Johnston, explained that paid subscriber counts have become less meaningful as the media landscape evolves. Starting with Q4 2025 for ESPN Plus and the following quarter for Disney Plus and Hulu, the company will stop reporting membership figures and average revenue per user. Instead, future updates will highlight overall financial performance and streaming profit growth.

Comparisons to Netflix’s approach

The move mirrors Netflix’s strategy, which stopped emphasizing subscriber numbers in 2024. Netflix highlighted that subscriber counts are only one piece of the puzzle, as new revenue streams like ad-supported plans and paid sharing models play a bigger role in long-term growth. By adopting a similar approach, Disney aims to reassure investors that profitability is the key measure of streaming success.

Disney Plus, Hulu, and ESPN Plus performance in 2025

Despite the shift, Disney’s most recent earnings report showed a 6% year-over-year increase in streaming revenue, generating a $346 million profit. Disney Plus and Hulu collectively reached 183 million subscribers, with Disney Plus accounting for 128 million. ESPN Plus remains at 24.1 million subscribers, as it prepares for the launch of a new “unlimited” ESPN streaming service that will include access to its linear TV channels. Disney’s new focus on profitability suggests the company is prioritizing long-term sustainability over raw subscriber growth.