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Walt Disney is in the red again. See what he’s making money on

An entertainment factory, a Hollywood studio, but also the owner of several television stations. This is the American multinational company Walt Disney, which was last highlighted not only in cinemas by the film Black Widow of the Marvel subsidiary.

Actress Scarlett Johansson, who plays the main character, sued the company for premature release of the film on streaming platforms.

Fewer people go to the cinemas, streaming platforms are growing

According to her lawyers, the celebrity cost the celebrity the step of the Disney studio $ 50 million, ie up to one billion crowns, as its fee is tied to sales in cinemas.

However, the company allegedly complied with the contract, although it presented the film on silver screens on the same day in its streaming platform. The actress allegedly also received an additional reward of 430 million crowns from her, and according to the company, there is no reason for the lawsuit.

Before the truth turns out, it will be good to remember that the comic film Black Widow only won in American cinemas during the opening weekend. over $ 80 million, ie up to one and three quarters of a billion crowns, and thus became the best – earning pandemic film in this category.

In the following weeks and weekends, however, the film was already struggling in cinemas with a decline in sales by tens of percent. However, the company doubled the number of subscribers to the Disney + streaming service for the third quarter of this year to 116 million accounts year-on-year, with a fee of $ 30.

Almost a fifth higher sales at Disney + and three times higher at parks

It was in the media and entertainment distribution division, which also includes other streaming services such as Hulu and the ABC and ESPN television channels, that Walt Disney earned the most money for the quarter ending on July 3. That’s over $ 12.6 billion, up 18 percent year on year. The company’s total revenue rose 45 percent to $ 17 billion.

Amusement parks such as Disneyland and Disney World experienced a significant year-on-year jump. The division’s revenue rose 290 percent to $ 4.3 billion in the third quarter. This is despite the fact that in many parks there are still restrictions on the capacity of visitors or the obligation to cover the airways.

They have mainly opened the largest entertainment complexes in California, and according to the head of the company, Bob Chapek, there is “great interest” in them. Disney is also one of the largest employers in the United States, requiring vaccinations from its employees.

Disney cares about parks, but also about streaming services

According to investment analyst Joe McCormack, the brand’s ability to open parks and resorts and keep them open is “obviously of the utmost importance.”

However, especially during the pandemic, Disney is turning to the latter segment, where traditional TV channels are declining and streaming services are growing in popularity, the AP agency added.

“Our customer-focused business is a top priority for the company,” Chapek explains, adding that the company expects further subscriber growth to 230 to 260 million accounts by 2024. For example, the Marvel series WandaVision, which for children’s audiences or the title Mandalorian especially successful among fans of the cult saga Star Wars.

Disney’s total revenue for the third quarter of this year exceeded analysts’ estimates. According to a survey by FactSet, they estimated it at about $ 16.8 billion. Shares of the media and film company strengthened by about five percent after the publication of quarterly results.

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