Disney+ Hotstar misplaced almost a fourth of its buyer base, or 12.5 million subscribers, within the quarter ending June, Disney disclosed in its earnings Wednesday, the continued setback on the India-focused streamer that’s reeling from the dearth of cricket content material.

That is the third consecutive quarter during which Disney has misplaced subscribers. Up to now three quarters ending June, Hotstar has misplaced total 18 million subscribers. The autumn in subscribers comes at a time when Disney is rumored to be exploring a sale or forming a three way partnership for the broader India enterprise.

Bob Iger, Disney CEO, didn’t essentially supply a robust India outlook on the earnings name. Requested how Disney+ Hotstar was shaping the corporate’s view on long-term worldwide streaming technique, and whether or not Disney was mulling exiting some markets, Iger mentioned:

“We even have been taking a look at a number of markets all over the world with a watch towards prioritizing these which are going to assist us flip this enterprise right into a worthwhile enterprise. What that mainly means is there are some markets that we are going to make investments much less in native programming however nonetheless keep the service. There are some markets that we could not have a service in any respect. And there are others that we’ll take into account, I’ll name it, high-potential markets the place we’ll make investments properly for native programming, advertising and mainly full-service content material in these markets. Principally, what I’m saying shouldn’t be all markets are created equal. And when it comes to our march to profitability, one of many methods we imagine we’re going to try this is by creating priorities internationally.”

The Indian streaming platform, a crown jewel in Fox’s portfolio to change into a part of Disney with the acquisition, attracted tens of tens of millions of consumers previously decade partially by offering livestreaming of cricket matches, significantly the native IPL match. That modified when Disney was outbid for the final season’s IPL digital rights by Viacom18, an organization backed by billionaire Mukesh Ambani’s Reliance Industries. To aggressively win clients, JioCinema streamed this 12 months’s IPL totally free in India.

“In essence, this consequence allowed the brand new entrance of the nation’s largest cell telecom operator (backed by one the wealthiest males on this planet) right into a market as soon as dominated by Disney. The protection of the linear enterprise by way of securing IPL rights by Disney made little sense as soon as Reliance launched their IPL cell product totally free. As cell operators in India like Vodafone have discovered through the years, it has exhausting to compete with an area champion hellbent on disrupting the market with cut-rate or free choices,” wrote boutique analysis home MoffettNathanson in a report final month.