Revenues at The Walt Disney Company were up 23 percent in the second quarter to $19.2 billion, with the company reporting 7.9 million additional customers at Disney+ to reach 137.7 million.
“Our strong results in the second quarter, including fantastic performance at our domestic parks and continued growth of our streaming services—with 7.9 million Disney+ subscribers added in the quarter and total subscriptions across all our DTC offerings exceeding 205 million—once again proved that we are in a league of our own,” said Bob Chapek, CEO. “As we look ahead to Disney’s second century, I am confident we will continue to transform entertainment by combining extraordinary storytelling with innovative technology to create an even larger, more connected and magical Disney universe for families and fans around the world.”
Disney Media and Entertainment Distribution revenues were up 9 percent to $13.6 billion. This includes $7.1 billion from the company’s linear channels, a 5 percent boost, with the domestic services up 8 percent to $5.8 billion and international down 3 percent to $1.3 billion. Direct-to-consumer revenues for the quarter increased 23 percent to $4.9 billion. The company ended the quarter with 44.4 million domestic Disney+ subs, a 19 percent year-on-year gain. Disney+ had 43.2 million international subs, a 39 percent increase, with an additional 50.1 million for Disney+ Hotstar. ESPN+ had 22.3 million customers. Hulu had a total of 45.6 million, with 41.4 million on the SVO-only tier and 4.1 million for live TV and SVOD.
Disney Parks, Experiences and Products revenues for the quarter increased to $6.7 billion.
The quarter includes a $1 billion hit in revenues to terminate license agreements for film and television content that is being retained for the company’s own services.