In the first quarter of 2024, the Walt Disney Company’s fiscal Q2, Disney’s direct-to-consumer business nearly broke even for the first time since Disney+ was born. From April to June, streaming profitability was finally reached. Disney+ added just 700,000 subscribers during the second calendar quarter of the month, Disney’s fiscal third quarter, according to financial documents released on Wednesday.
It had added 6.3 million subs in the previously-reported quarter. Disney+ now has 118.
3 million subscribers. Hulu added 900,000 subs in the quarter. Disney CEO Bob Iger had previously said DTC will be profitable by the end of September.
He beat his own deadline by one quarter. Disney’s “entertainment streaming was profitable” from January to March, Iger said in May. In other words, blame sports.
Wall Street expected Disney earnings of $1.09 per share on $21.14 billion in revenue.
The company posted adjusted EPS of $1.39 on $23.2 billion in revenue.
“Inside Out 2” was the big theatrical release in the April-June quarter — hell, it is by far the biggest movie of 2024 to-date — though a significant chunk of ticket sales will show up on the next quarterly earnings report. The sequel to 2015’s “Inside Out” ended up generating more than $1.5 billion at the worldwide box office and its $627 million domestic haul is the best ever for a G/PG-rated movie, not counting inflation.
As a matter of fact, probably the only film that could catch “Inside Out 2” in ca.