On November 12, Disney released financial results for the fourth quarter, which ended on October 3. We chose the main thing from the report.
- Disney + reached 73.7 million subscribers in its first year. At the beginning of August 2020, the company reported 60.5 million. Hulu has 36.6 million subscribers, and ESPN + has 10.3 million. By comparison, Netflix has over 195 million subscribers worldwide.
- The company’s total revenue fell 23% to $ 14.71 billion – analysts had expected a drop to $ 14.2 billion. Soon after the report was published, Disney shares were up 5.6% to $ 143.12.
- The streaming segment had a loss of $ 580 million for the quarter, although analysts had forecast a loss of $ 1 billion.
- Revenue in the parks segment against the background of their closure due to the Covid-19 pandemic fell by $ 2.4 billion. According to analysts, Disney has managed to reduce losses from the attraction segment and focus on streaming services, when many people are in quarantine.
- Many Disneylands remain closed and some have been forced to close again due to a strong increase in Covid-19 infections in October. California Adventure Park is scheduled to remain closed until early 2021 or next summer.
- Revenue from film studios against the backdrop of movie theater closings and release transfers fell 61% to $ 419 million. Disney has announced that it will waive its semi-annual dividend in the second half of FY2020 to fund its streaming segment.