“But currently, we do expect that in the fourth quarter, we will see core Disney+ net adds rebound with growth both domestically and internationally.”

In context

“As Bob referenced earlier, we've improved direct-to-consumer operating results by $1 billion in just three quarters. For Q3, operating losses improved by approximately $150 million versus the prior quarter and by approximately $550 million versus the prior year. These results outperformed the guidance we gave on the last earnings call, largely due to lower-than-expected expenses, including from realizing SG&A savings sooner than initially expected. Disney+ core subscribers grew by nearly 800,000 during the third quarter, in line with the commentary we made at our last earnings call, with international growth more than offsetting modest domestic net losses. As Bob mentioned, our progress will vary from quarter-to-quarter and we are more focused on overall economics versus pure sub growth. But currently, we do expect that in the fourth quarter, we will see core Disney+ net adds rebound with growth both domestically and internationally. Disney+ core ARPU increased sequentially by $0.11 driven by higher per subscriber advertising revenue domestically, as well as price increases in certain international markets. With over 40% of gross adds opting for the ad tier, the domestic Disney+ ad tier is continuing to improve our ARPU. And we look forward to the additional market launches announced today, which should serve as a stepping stone on our path to profitability. Disney+ Hotstar subscribers declined this quarter as we adjusted our product from one centered around the IPL to one more balanced with other sports and entertainment offerings. I would also note that this business with its significantly lower ARPU compared to core Disney+ is not a material component of our overall D2C financial results. We will therefore continue”