Ka-ching! Disney Turns Streaming Profit For First Time And Ahead Of Schedule
deadline.comDisney beat its own timeframe to reach streaming profits in an upbeat June quarter that also saw a big contribution from Inside Out 2.
For well over a year, the company’s promised a streaming swing to the black in the 2024 fiscal fourth quarter but nailed it earlier, reporting $47 million in DTC operating income in Q3 (vs a $512 million loss the year before).
Disney+ and Hulu actually lost $19 million (on $5.8 billion in revenue) but that was more than offset by ESPN+. Disney+ and Hulu should turn profitable and combined streaming income grow in the current September quarter.
Yesterday, Disney announced price hikes across most streaming plans starting in October. There’s been a sea change in how the industry looks at streaming, a pivot to profits over subscriber growth.
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