Walt Disney: Profits below previous year, despite record sales

In its 100th year as a company, the Walt Disney Company has achieved another record turnover. The Group generated around 88.9 billion US dollars worldwide with entertainment media, theme parks and licence businesses. Compared to the 2022 financial year (ends at the end of September/beginning of October), sales increased by around 7.5 per cent. However, the Walt Disney Company's profit of USD 2.4 billion is around USD 0.8 billion below the previous year, which is partly due to a significant decline in advertising customers. Overall, the business figures are above the expectations of most analysts. Disney shares rose by around two per cent in after-hours trading. 

Disney+ recovers from slump

The streaming service Disney+ (including Disney+ Hotstar) is also recovering from the slump of the previous quarters. From the first to the third quarter of the 2023 financial year, the streaming platform lost almost 20 million subscribers, mainly due to price increases. Measures such as the introduction of a subscription model with ad breaks and discount promotions bore fruit in the fourth quarter - Disney+ again recorded a slight increase of around four million subscriptions.

Source: www.statista.com