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Disney Tumbles After Posting Decline in Streaming Subscribers

Disney+ service registers second-straight loss of subscribers
Parks shine while traditional TV business continues to decline

Watch: Disney reports quarterly earnings that are in line with estimates.Markets: The Close.”

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By Thomas Buckley

May 10, 2023 at 8:05 PM UTC

Updated on

May 11, 2023 at 1:59 PM UTC

This article is for subscribers only.

Walt Disney Co. shares fell the most in six months after the company posted a drop in subscribers to its namesake streaming service and predicted a wider loss in that business this quarter.

The loss from streaming will increase by $100 million this period because of shifting marketing costs, Chief Financial Officer Christine McCarthy said Wednesday on a conference call with analysts.