Disney U.K. Posts Losses of Almost $300 Million But Gross Revenue Is Up
K.J. Yossman Disney’s U.K. subsidiary is in need of a little fairy dust. The London-based outpost for the House of Mouse – The Walt Disney Company Limited – has posted a loss of almost $300 million for the financial year ending Oct. 2, 2021. The number is a significant drop on the previous year’s accounts (for the year ending Oct. 2020), which showed a restated profit of $291 million. The figure comes from the company’s financial report, which was filed at the U.K. business registrar, Companies House, on Thursday. The report represents the first full year of accounts in which Disney+ has been operational (the streaming service launched in March 2020) as well as the first full year impacted by the COVID-19 pandemic.