Q3 Gains for Disney

The Walt Disney Company’s revenues in the third quarter rose by 2 percent to $23.7 billion, with total segment operating income rising by 8 percent to $4.6 billion.

“We are pleased with our creative success and financial performance in Q3 as we continue to execute across our strategic priorities,” said Robert A. Iger, CEO. “The company is taking major steps forward in streaming with the upcoming launch of ESPN’s direct-to-consumer service, our just-announced plans with the NFL, and our forthcoming integration of Hulu into Disney+, creating a truly differentiated streaming proposition that harnesses the highest caliber brands and franchises, general entertainment, family programming, news and industry-leading sports content. And we have more expansions underway around the world in our parks and experiences than at any other time in our history. With ambitious plans ahead for all our businesses, we’re not done building, and we are excited for Disney’s future.”

Entertainment segment revenues were largely flat at $10.7 billion amid a 15 percent drop in linear revenues to $2.3 billion as D2C gained 6 percent to $6.2 billion and content sales gained 7 percent to $2.26 billion. The company reported a total of 127.8 million Disney+ subs, led by international, which rose to 69.9 million subscribers. Hulu SVOD customers rose by 2 percent to 51.2 million, while the live TV plus SVOD tier was down by 2 percent to 4.3 million customers.

Sports segment revenues were flat at $4.3 while experiences revenues were up 8 percent to $9.1 billion with gains at the domestic and international parks and in consumer products.