Disney's streaming service saw its first ever fall in subscribers last quarter, company data showed on Wednesday, as consumers cut back on spending amid higher costs and a souring global economy.

In this file photo taken on March 16, 2022 the Disney+ logo is seen on the backdrop for the "Cheaper by the Dozen" Disney premiere at the El Capitan theatre in Hollywood, California. (File photo: AFP)

Subscribers to Disney+, the streaming archrival to Netflix, fell one percent to 161.8 million customers on December 31, compared to three months earlier.

Analysts had broadly expected the decline, which was part of the first earnings report by Disney since Hollywood veteran Bob Iger was reinstated as CEO in November.