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Perhaps the most alarming development has been the shift in Disney Plus subscriptions. In the final quarter of 2022, Disney reported a loss of 2.4 million subscribers for the first time in its history—a clear indication that the platform's growth was stalling. Disney promptly attributed this decline to specific issues in India, where the service lost access to the Indian Premier League broadcasting rights, which impacted local subscriber numbers. Despite assurances that the U.S. market remained strong, the reality proved otherwise.