Disney reported its performance for the quarter ending in June, with all of Disney’s streaming businesses (including Direct-to-Consumer group or DTC along with ESPN+) making a first-time profit of $47 million, compared to the previous quarter, where only DTC (Disney+ and Hulu) saw profits.
CEO Bob Iger stated that the entertainment business had a robust growth in the past quarter, with both Box Office movies and the profitable streaming business seeing unprecedented success. Inside Out 2 grossed over $1.5 billion worldwide, becoming the highest-grossing animated film of all time.
Disney+ has a global subscriber base of 118.3 million accounts, not including Disney+ Hotstar with 35.5 million accounts, while Hulu has 51.1 million accounts.
Overall, Disney saw a 4% increase in revenue from the same period in the previous year, totaling $23.155 billion, with a net profit of $2.842 billion.
Source: Disney
TLDR: Disney’s streaming services saw a profit for the first time while the entertainment business experienced significant growth, with Disney+ reaching a huge global subscriber base.
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