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Hulu Drops Back Down To 4.4 Million Live TV Subscribers


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Hulu finished the first calendar quarter of 2023 with 4.4 million subscribers. Even though this was an increase of the first quarter of the year before, it resulted in a decrease when compared to number of subscribers at the close of the previous quarter.

Hulu Live TV appears to have found itself becoming stagnant of late. While it does see some changes, the subscriber base doesn’t appear to be increasing or decreasing in any meaningful way.

As of April 1, 2023, Hulu Live TV had 4.4 million subscribers, according to the latest quarterly results from Disney (reported as fiscal second quarter 2023). This represents a decrease of around 100,000 compared to the 4.5 million that the company reported at the end of the fourth quarter of last year.

When looking at the year-over-year change, Hulu Live TV was serving live TV to around 300,000 more subscribers than it was at the end of the first quarter of last year. It is worth mentioning that Hulu lost subscribers in the second quarter of 2022, so it will be interesting to see if that happens again at the end of the current three-month period.

When it came to basic Hulu, the number of subscribers increased in the previous quarter. After finishing 2022 with 43.5 million basic Hulu subscribers, Hulu ended the first quarter of 2023 with 43.7 million, an increase of around 200,000 in the past three months.

When taking both of these Q1 2023 changes into consideration, the total number of Hulu subscribers (Hulu and Hulu + Live TV) increased from 48 million to 48.2 million.

For reference, average monthly revenue per paid Hulu Live TV subscriber increased from $87.90 at the end of the fourth quarter to $92.32. In contrast, average monthly revenue per paid Hulu subscriber decreased from $12.46 at the end of Q4 2022 to $11.73.

John Finn


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