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Home News & Reports

November 18, 2024

Disney+ Reports 6% Revenue Growth In Q4, Reaching $22.6 Billion
News & Reports
November 18, 2024

by Staff Writer BMA
November 18, 2024
in News & Reports, OTT & Streaming
Businessman use electronic pen writing rising colorful graph from 2023 to 2024 year of business planing and stock investment growth concept.

Businessman use electronic pen writing rising colorful graph from 2023 to 2024 year of business planing and stock investment growth concept.

The Walt Disney Company has announced a 6% increase in its earnings for the fourth quarter (Q4) and the full year ending September 28, 2024, reaching US$22.6 billion, compared to US$21.2 billion in Q3. For Q4, the media conglomerate highlighted a 23% growth in total segment operating income and a 39% rise in adjusted earnings per share (EPS), which climbed to US$1.14 from US$0.82. For the entire year, adjusted EPS rose 32%, reaching US$4.97 from US$3.76.

In the Entertainment segment, operating income surged to US$1.1 billion, reflecting an increase of US$0.8 billion from last year’s quarter. The Direct-to-Consumer (DTC) sector, encompassing Disney+ and Hulu, achieved a 14% growth in ad revenue during Q4, leading to an operating income of US$253 million. Overall, the combined DTC streaming services saw profitability improvements, with an operating income of US$321 million in Q4.

By the end of the quarter, Disney had amassed 174 million subscriptions for Disney+ Core and Hulu, with over 120 million paid subscribers to Disney+ Core alone, a growth of 4.4 million from the previous quarter.

Disney’s recent releases, such as Pixar’s Inside Out 2 and Marvel’s Deadpool & Wolverine (now available on Disney+), set several box office records, contributing US$316 million in operating income for Content Sales, Licensing, and Other segments in Q4. However, the sports segment reported a slight decline, with operating income at US$0.9 billion, down US$0.1 billion from the previous year. Still, domestic ESPN advertising revenue rose 7% in Q4 from last year.

The Experiences segment saw record revenue and operating income for the full year, although Q4 performance was mixed. Revenue increased by US$0.1 billion (1%), but operating income declined by US$0.1 billion (6%) compared to the same period last year.

Domestic Parks & Experiences experienced higher operating income in Q4 due to comparable attendance levels and increased guest spending despite rising expenses and costs related to new offerings, particularly from Disney Cruise Line. Conversely, international Parks & Experiences saw a decline in operating income during the same quarter.

CEO Bob Iger remarked, “This was a pivotal and successful year for The Walt Disney Company. We have emerged from a challenging period, are well-positioned for growth, and feel optimistic about our future. Our strong Q4 performance underscores our strategic efforts to enhance quality, innovation, efficiency, and value creation. We achieved one of the best quarters in our film studio’s history, improved profitability in our streaming sector, secured a record 60 Emmy Awards, showcased the enduring appeal of live sports, and unveiled an exciting lineup of new projects in our Experiences segment. Through our strategies and a focus on immediate and long-term business management, we are setting ourselves apart from traditional competitors and leveraging a comprehensive array of entertainment assets to drive substantial returns and advance our objectives.”

Tags: OTTStreamingWalt Disney Company
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