Hulu ended the third calendar quarter of 2025 (Disney Q4 FY25) with 4.4 million Live TV subscribers. Although an increase in general, Hulu Live TV continues to hit a stumbling block in terms of growth.
Key Takeaways
- Hulu Live TV ended the most recent quarter with 4.4 million subscribers, an increase of 100,000 on the previous quarter but a decline of 200,000 year-over-year.
- Hulu’s SVOD business continues to show strong growth, adding 8.5 million subscribers in Q3 to reach a total of 59.7 million.
- Following the recent price hikes, and new subscriber discounts, it remains unclear how Hulu’s subscriber base will be affected during the current quarter.
Hulu Live TV closed out the previous quarter with 4.3 million subscribers, resulting in the addition of 100,000 between July and September of this year.
However, following Hulu’s closure of the first calendar quarter of the year with 4.4 million subscribers, the Q2 2025 subscriber count represented a loss of around 100,000 during the previous quarter, and highlights no real change over the past six months.
Hulu Live TV also closed the third calendar quarter of last year with 4.6 million subscribers, resulting in a loss of around 200,000 subscribers on a year-over-year basis.
In general, Hulu Live TV continues to hit a stumbling block in terms of growth. While always seeing some degree of increase or decline during a particular quarter, Hulu continues to hover between 4 and 4.5 million subscribers.
Hulu Continues To Grow In General
The picture continues to be a little better for the wider Hulu platform. After closing out the previous quarter with 51.2 million SVOD subscribers, Hulu ended the most recent quarter with 59.7 million, resulting in the addition of 8.5 million between July and September.
When adding the SVOD subscribers, Hulu closed out the third calendar quarter of 2025 with a total of 64.1 million subscribers.
This represented an increase of 8.6 million subscribers over the previous quarter, and an increase of around 12.1 million on the third calendar quarter of last year.
One of the notable changes to Hulu during the third quarter was the introduction of another price increase, affecting both Hulu SVOD users and Hulu Live TV subscribers.
Since that price increase, Hulu has also been offering a discount to new Hulu Live TV subscribers.
With an increase for existing subscribers, and a healthy discount for new subscribers, it remains unclear whether Hulu Live TV is more or less likely to add or lose subscribers during the current quarter.
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