Disney's Streaming Churn Doubled, But There's More to the Story

Disney+ and Hulu saw subscriber churn rates double in September, resulting in over 7 million cancellations that coincided with the controversial suspension of Jimmy Kimmel, as reported by Deadline.

• A one-two punch: The Kimmel controversy wasn't the only headwind. Disney also announced another round of price hikes for its streaming bundles around the same time, adding a second, well-known trigger for cancellations into the mix.
• A rising tide lifts all churn: The churn wave wasn't isolated to Disney's kingdom, as HBO Max, Paramount+, and Apple TV+ also saw subscribers head for the exits. The start of the NFL season kicked off the annual subscription shuffle, while the launch of new sports-focused competitors gave customers even more reason to reshuffle their streaming deck.

But the story isn't just about the losses. The wave of cancellations was met by a surge of new sign-ups, with the two services attracting a combined 4.3 million new subscribers—the best month for both since March, according to data from Antenna. It paints a picture of a highly fluid subscriber base, where users are actively and tactically managing their streaming portfolios month-to-month.