Walt Disney Co. reported a smaller-than-expected increase in subscribers to its namesake streaming service, a sign that Disney+ is struggling to broaden its appeal after an explosive start.
The video service gained 2.1 million customers in the fiscal fourth quarter, Burbank, California-based Disney said Wednesday, bringing the total to 118.1 million globally. Analysts were forecasting 119.6 million, the average of estimates compiled by Bloomberg.
The miss was part of a broadly disappointing quarter for the entertainment giant, which also saw profit decline at its film and TV businesses.
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