73 million Disney + subscribers and other details from Disney’s quarterly report

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.
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