The Walt Disney Company posted revenues of $24.7 billion, a 5 percent increase, in Q1, driven by direct-to-consumer and content sales and licensing activities.
“Our results this quarter demonstrate Disney’s creative and financial strength as we advanced the strategic initiatives set in motion over the past two years,” said Robert A. Iger, CEO. “In fiscal Q1, we saw outstanding box office performance from our studios, which had the top three movies of 2024; we further improved the profitability of our Entertainment DTC streaming businesses; we took an important step to advance ESPN’s digital strategy by adding an ESPN tile on Disney+; and our Experiences segment demonstrated its enduring appeal as we continue investing strategically across the globe. Overall, this quarter proved to be a strong start to the fiscal year, and we remain confident in our strategy for continued growth.”
Revenues in the entertainment segment rose by 9 percent to $10.9 billion, with operating income doubling to $1.7 billion. The segment saw linear revenues drop by 7 percent to $2.6 billion, with the U.S. stable while international dropped by 31 percent, largely from the company partnering with Reliance on the Star India business. Direct-to-consumer, meanwhile, was up by 9 percent to $6 billion, with the segment posting a profit of $293 million. The company had a total of 124.6 million Disney+ subs at the end of 2024, a 1 percent decrease due to some erosion in its international base. Hulu SVOD subs rose to 49 million. Content sales and licensing revenues rose by 34 percent to $2.2 billion, boosted by theatrical releases like Moana 2.
Sports revenues were flat at $4.85 billion, with the segment delivering a profit of $247 million. Experiences revenues gained 3 percent to $9.4 billion, while operating income was stable at $3.1 billion.
