Disney + will be home for family price. Disney reported quarterly and year-round financial performance on Thursday for perhaps the…
Disney reported quarterly and year-round financial performance on Thursday for perhaps the last time before it acquired the 21st Century Fox, and the results did not disappoint Wall Street as a strong result for Incredibles 2 and Ant Man and Wasp helped the conglomerate film studio to increase its revenue by 50 percent.
Analysts expected Disney to earn $ 1
.34 per share of $ 13.73 billion in Q4 revenue, but the conglomerate published $ 1.48 per share on a turnover of $ 14.31 billion.
For the full fiscal year, Disney was expected to earn $ 6.94 per share of $ 58.87 billion, although it reported $ 7.08 per share of $ 59.43 billion in revenues.
The shares in Disney fell 1 percent on Thursday to $ 116.09, but after closing the company’s release, the stock grew by 2 percent.
In connection with the result, Disney CEO Bob Iger announced that the company’s upcoming streaming s Ervice, which is to compete with Netflix, is dubbed Disney +, just as ESPN-streaming product is called ESPN +. Earlier reports had wrongly shown that the upcoming service would be called Disney Play.
Disy’s acquisition of Fox’s entertainment facilities, the company controlled by Rupert Murdoch and his sons, is ready to close at the beginning of next year if the regulatory authorities approve the transaction and Iger said Thursday he is convinced that it will happen earlier than what was originally expected.
The Fox transaction includes 30 percent of Hulu, giving Disney 60 percent of that asset and Iger made it clear that Hulu and Disney + can
Disney will have “significant say about how Hulu is running” because Comcast and AT & T will remain minority shareholders, and he either proposed, or both may choose to divest their interest in Hulu.
Iger said Hulu is “appreciated” because of his young demographic and ability to deliver targeted ads and he said he will invest more in original programming and perhaps increase the monthly subscription Ption fees, currently starting at $ 5.99 per month.
Hulu, said Iger, will be for general entertainment while Disney + will be home for family fare. Under these lines, he announced a prequel series to Rogue One: A Star Wars Story for Disney + is in the work.
in studio education, Disney revenues increased from $ 1.43 billion in the quarter last year to $ 2.15 billion this time, with Black Panther, Avengers: Infinity War and Star Wars: The Last Jedi was a strong contribution to the top line.
Disney’s largest segment, media network, saw quarterly revenue up 9 percent to $ 596.96 billion, with most of the growth attributable to television rather than cable.
Parks and resorts increased 9 percent of revenue growth to $ 5.07 billion and consumer and interactive media saw revenues fell 8 percent to $ 1.12 billion.