On the night of February 11-12, the guide Disney held another online meeting with investors, during which new data on the company’s financial condition were announced. In particular, we are talking about successes Mickey Mouse houses in the “streaming war”.
As told by the head of Disney Bob Chapek, the audience of streaming services is growing faster than expected. So, the number of subscribers Disney + exceeded 94.9 million people. Interestingly enough, the 90 million mark was hit even before the show was released. “Wanda Vision“(WandaVision) from Marvel… The company promises to add new content on a weekly basis.
Auditorium of the sports ground ESPN + doubled over the year – up to 12.1 million people. However, advertising revenues were down 4% due to disrupted events. Lecture hall Hulu grew to 39.4 million viewers (+ 30%), making it the fifth largest pay TV operator in the United States.
For the first fiscal quarter of 2023, Mickey Mouse’s home income was $ 16.9 billion, which was higher than analysts’ expectations. To understand the big picture – a year ago the company earned $ 20 billion. Separately, it was said about the increase in revenues from the sale of video games, which is associated with the release Spider-Man: Miles Morales…
Theme parks remain Disney’s Achilles heel. Because of them, the company lost $ 2.6 billion in the first quarter. At the same time, it was decided to turn parks in the United States into vaccination centers (more than 100 thousand doses of COVID-19 vaccine were delivered).
Bob Chapek noted that the average revenue per user of streaming services also decreased from 5.56 to 4.03 dollars. This is due to the launch of the budget subscription option Disney + Hot Star (they ask for content less than two dollars a month). According to preliminary data, such a package of services has issued a third of 94.9 million Disney + subscribers.
Library Hot star for Disney + will also be available to subscribers starting February 23 in Europe, Canada, New Zealand and Singapore. It’s about more mature content from Fox and new products to be released under the brand Star…
As for future plans, Disney still doesn’t know how to deal with the film. “Black Widow“(Black Widow). The company is trying to show “flexibility” in the market, but still hopes to release the Marvel tape in theaters in May 2023.
House of Mickey Mouse was pleased with the model of distributing premium films through Disney + (for an additional $ 30 upwards). Release “Mulan“(Mulan) the company considers in the current conditions more or less successful, and the release of the cartoon Pixar “Soul“(Soul) allowed to attract a new audience and keep the old one.
Disney + will premiere the cartoon “Raya and the last dragon“(Raya and the Last Dragon). The formation of the entertainment giant’s further strategy depends on its success. According to Chapek, the new creation Walt disney animation studios dedicated to the “empowerment of women” (Women’s empowerment).
Although Disney +’s audience is growing faster than the company expected, streaming remains a losing product (the market prefers to turn a blind eye to this in the current environment). Disney management hopes that the platform will only start making money for it in fiscal 2024, although the forecast may be refined in the future.
Judging by the comments of Bob Chapek, in order to increase the flow of money and get content on a monthly basis, the Mickey Mouse house is ready to literally “milk” its franchises. In addition, the emphasis will be on “promoting diversity and inclusion” (Diversity & Inclusion).
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