Disney+ Subscriber Gains Reassure Investors, for Now

Bloomberg2022-02-10

Growth at the streaming service and a rebound at theme parks give the entertainment giant some breathing room.Happier days return.Photographer: Joshua Sudock/Walt Disney World ResortsIs the streaming ...

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Sing Options
2022-02-10
Sing Options
Hopefully the beginning of a new chapter
nxw
2022-02-10
nxw
Like pls
benjaminlsk
2022-02-10
benjaminlsk
Nice

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The results should quell some doubts that the company won’t be able to reach its longer-term projection of between 230 million and 260 million subscribers to Disney+ by 2024. Disney finished the quarter with 129.8 million subscribers.News of the subscriber gains sent Disney shares up around 7% in after-hours trading. The entertainment giant reported total sales of $21.8 billion, while earnings rose to $1.06 a share, beating analysts’ median estimate of 57 cents a share and compared with 32 cents in the same period a year earlier.In recent months investors had grown increasingly pessimistic about Disney and other businesses making big commitments in streaming. Disney shares had fallen 27% from their March 2021 peak as of today’s close. Concerns about subscriber growth intensified last month after rival Netflix forecast its worst start to the year in at least a decade, dragging shares of the entire streaming industry down with it.Covid-related production delays at Disney added to the uncertainty around the streaming business.Even if Disney+ meets its ambitious growth expectations, it is spending exorbitant amounts to get there. Disney bumped up its overall content budget to $33 billion in 2022, an amount that will delay profitability of the business beyond 2023, according to Bloomberg Intelligence analysts.The company also is enjoying a strong rebound in its theme parks business as people become comfortable returning to leisure activities. Parks revenue more than doubled to $7.2 billion compared with the same quarter a year earlier. That came after Comcast Corp.’s Universal theme parks reported their most profitable quarter ever last month. With omicron subsiding, Disney should continue to see a solid performance in its parks business, offering investors betting on a return to normal more upside from here.Results were less impressive at Disney’s large broadcast and cable division, which includes networks such as ESPN and ABC. Revenue for the quarter was essentially flat at $7.7 billion while operating income decreased 13% to $1.5 billion.That makes the streaming push even more important. One bright spot in that endeavor is Disney’s latest animated movie “Encanto,” which has been popular on the streaming service. It fared less well in theaters as Covid fears kept moviegoers away.“Encanto” won’t necessarily help Disney attract subscribers outside its core family-oriented market. Disney said today it wants to add more general entertainment to Disney+ to broaden its reach beyond families, yet it still has some catching up to do with the vast libraries offered by the likes of Netflix and HBO. Its bundle offering with Hulu, which alone has 45 million subscribers, has helped drive some of the subscriber growth at Disney+.To connect with new viewers, Disney+ will need to ramp up content delivery. Otherwise, it could continue to see subscribers join for a specific movie or series only to cancel afterward, as millions appear to have done after the streaming release of “Hamilton” in 2020. Disney+ has a big lineup of movies and series slated for 2022, with releases skewed toward the second half of the year.But with the bar set low after Disney reported a meager 2.1 million new subscribers in the previous quarter, 2022 looks to be off to a good start.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9096755467,"gmtCreate":1644469613280,"gmtModify":1676533930807,"author":{"id":"3579900452493704","authorId":"3579900452493704","name":"Sing Options","avatar":"https://community-static.tradeup.com/news/29d0ba2323a2667b2b0bfce5059b16a6","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"Hopefully the beginning of a new chapter","listText":"Hopefully the beginning of a new chapter","text":"Hopefully the beginning of a new chapter","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9096755467","repostId":1185243927,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9096756348,"gmtCreate":1644468931020,"gmtModify":1676533930736,"author":{"id":"3555755639757611","authorId":"3555755639757611","name":"nxw","avatar":"https://static.tigerbbs.com/0a3041e78835567c8db5934504534a17","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"Like pls&nbsp;","listText":"Like pls&nbsp;","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9096756348","repostId":1185243927,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9096726818,"gmtCreate":1644466634103,"gmtModify":1676533930533,"author":{"id":"3571707309049146","authorId":"3571707309049146","name":"benjaminlsk","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/ae1f49570794979e009a5efdeb6f4789","crmLevel":1,"crmLevelSwitch":0},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9096726818","repostId":1185243927,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":49,"commentSize":3,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1185243927"}