Q4 Revenue Boost for Disney

Fourth quarter revenues at The Walt Disney Company rose 6 percent to $22.6 billion, lifted in part by its streaming and content sales segment.

“This was a pivotal and successful year for The Walt Disney Company, and thanks to the significant progress we’ve made, we have emerged from a period of considerable challenges and disruption well positioned for growth and optimistic about our future,” said Robert A. Iger, CEO. “Our solid performance in the fiscal fourth quarter reflected the success of our strategic efforts to improve quality, innovation, efficiency and value creation. In Q4 we saw one of the best quarters in the history of our film studio, improved profitability in our streaming businesses, a record-breaking 60 Emmy Awards for the company, the continued power of live sports, and the unveiling of an impressive collection of new projects coming to our Experiences segment. As a result of our strategies and our focus on managing our businesses for both the near- and long-term, we are differentiating ourselves from traditional competitors, leveraging the deepest and broadest set of entertainment assets in the industry to drive attractive returns and further advance our goals.”

Entertainment revenues, encompassing linear networks, DTC and content sales, rose 14 percent to $10.8 billion. Linear networks fell by 6 percent to $2.5 billion, while DTC was up 15 percent to $5.8 billion and content sales rose almost 40 percent to $2.6 billion. Disney+ reported 56 million North American subs at the end of the quarter, a 2 percent gain on the previous quarter, while international subs rose 5 percent to 66.7 million. Disney+ Hotstar was flat at 36 million subs. Hulu had a total of 52 million customers, 47.4 million for SVOD only and 4.6 million for live TV with SVOD.

The sports segment was stable at $3.9 billion, while in experiences—encompassing theme parks and consumer products—revenues were stable at $8.2 billion.