Disney+ Helps Bolster Revenue for The Walt Disney Company
Investor predictions turned out to be true! The Walt Disney Company just reported a 5% increase in revenue for the fourth quarter during today’s investor call.
The Walt Disney Company reported that revenue increased to $21.24 billion, which was still short of Wall Street’s expectations of $21.33 billion. It also marks the first time since 2018 that the company missed expectations two times in a row.
(Charley Gallay / Getty Images for Disney)
Disney can thank Disney+, along with international parks and Disney Cruise Line, for the 5% increase.
Disney+ alone added over 7 million new subscribers from Q3 for a whopping 150.2 subscribers total. It’s far beyond the expectations of 148.15 million subscribers.
Credit: Disney
New releases that drove the success include the live-action “The Little Mermaid,” the Star Wars series, “Ashoka,” and a favorite in my house, “Elemental.”
The Disney Parks and Experience division also reported a 13% increase in revenues for a total of $8.16 billion during the fourth quarter.
Walt Disney Company
As a reminder, this is the first quarter that The Walt Disney Company is using its restructured system to report financials. The new system breaks the company into three divisions, including Entertainment, Sports, and Experiences.
What are your thoughts on today’s numbers? Let us know in the thoughts below!
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Image/Source Credit: Disney
