Disney + reached 116 million subscribers, and its parks division returned to profitability.

Disney recorded $ 4.3 billion in total streaming revenue, up 57% from the previous year. The monthly price of a Disney + subscription in...


Disney recorded $ 4.3 billion in total streaming revenue, up 57% from the previous year. The monthly price of a Disney + subscription in the United States increased from $ 1 at the end of March, to $ 8. Disney + also made tens of millions of dollars from “Cruella,” which was made available to subscribers in May – around the same time the film hit theaters – for an additional $ 30. Hulu, that Disney took over in 2019, benefited from higher advertising revenues and growth in the number of subscribers.

Disney said Hulu has around 42.8 million subscribers, a 21% increase from last year. About 15 million people pay to access the company’s ESPN + platform, up 75% from the previous year.

But building a portfolio of streaming services is very expensive. Various costs (content production, marketing, technology infrastructure) contributed to losses of around $ 300 million for Disney’s streaming unit. Yet the division lost double that amount in the same period a year ago.

Citing the pandemic that has ravaged the film world, Disney recently changed its methods of distributing films. Some films that were originally intended to be shown in theaters – animated films, in particular – have been rerouted entirely to Disney +. Others were made available on Disney + when they first opened in theaters, a practice that put the company on war footing with at least one big star and its agents.

Scarlett Johansson, who played superassassin Black Widow in eight films, sued Disney this month, claiming that making “Black Widow” available on Disney + when it opened in theaters “dramatically” reduced box office revenue, costing it tens of millions of dollars in bonus. His trial drew a meteoric response “without any merit” from Disney.

Mr Chapek only commented indirectly on Ms Johansson’s complaint on Thursday.

“It’s definitely a time of anxiety in the market,” he said in response to an analyst question about Disney’s movie release strategy. “These films that we are releasing right now were made in a completely different environment than the one that fate has unfortunately delivered to us. But we are trying to do the best thing for all of our constituents and to make sure that everyone in the value chain, if you will, feel their contractual commitments are being honored from both a distribution and compensation perspective.

The company will continue to make film-by-film decisions about the release of films, said Chapek. “We appreciate the flexibility,” he said.

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Newsrust - US Top News: Disney + reached 116 million subscribers, and its parks division returned to profitability.
Disney + reached 116 million subscribers, and its parks division returned to profitability.
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