Today a Disney meeting was held with its investors to discuss financial issues regarding its last fiscal year, where interesting announcements were made such as the confirmation of Moana 2 for the end of this year and also the association with Fortnite to expand in video games. However, the negative part could not be missing, and that is directly related to subscribers with its streaming platform, which does not have the expected numbers.
The news highlights that the company went from 112.6 million subscribers on September 30, 2023 to 111.3 million on December 30, 2023. It also shared that Hulu, on the other hand, gained 1.2 million subscribers as it went from 43.9 million to 45.1 million in the same time period. Which would not have affected the company much, given that they can recover part of the loss with the price increase that was made not long ago.
For its part, it was said at the conference that in other parts of the company, disney generated all-time records in revenue, operating income and operating margin in the first quarter for its experiences department, including Disney Parks. It also brought in revenue for the quarter that was comparable to the prior-year quarter at $23.5 billion. So while the interactive divisions continue to add attractions like the ones in Star Wars and Pixar.
Here what was mentioned by Robert A. Igerexecutive director of The Walt Disney Company:
Just over a year ago, we outlined an ambitious plan to return The Walt Disney Company to a period of sustained growth and shareholder value creation. Our strong performance in the past quarter demonstrates that we have turned a corner and entered a new era for our company, focused on strengthening ESPN for the future, turning streaming into a profitable growth business, revitalizing our film studios and driving growth of our parks and experiences.
In conclusion, they have lost a more or less considerable number of subscribers, but despite that the ship has stayed afloat in other aspects and streaming profits remain stable, after all the price increase helped this process. . And there are people waiting for future programs that they want to see as soon as they premiere on the platform.
Editor’s note: It seems that this year is looking better for Disney, because to begin with there are Pixar releases that never made it to theaters, that is the first sign, to that we add the collaboration with Fortnite and not to mention that Deadpool paints to save the MCU. We will have to wait and see.