✔️ 2022-05-11 23:44:14 – Paris/France.
Published on: 11/05/2022 – 23:44 Modified: 11/05/2022 – 23:42
San Francisco (AFP) - Disney said on Wednesday that its profits fell in the last quarter, but that its service of Streaming televised and its parks were booming.
The entertainment giant reported net profit of $470 million, just over half the $912 million profit it made in the same period a year earlier.
Attendance at the park, which had fallen due to the pandemic, has however rebounded and the service of Streaming Disney+ television gained 7,9 million subscribers to 137,7 million.
When adding subscriptions to the services of Streaming from Disney Hulu and ESPN, the total number exceeds 205 million.
“Our strong results in the second quarter, including the fantastic performance of our national parks and the continued growth of our Streaming, have once again proven that we are in a league of their own,” said Walt Disney Company Chief Executive Bob Chapek.
He told analysts that Disney was ready to raise the price of its subscription to the service. Streaming in the future, but had no specific plans. Disney+ is pursuing a version of the service that would be ad-supported, Chapek said.
Disney+ has gained more subscribers than analysts had expected, in stark contrast to the fall in subscriber numbers reported by its rival Netflix in the first quarter of this year.
A drop of only 200 users – less than 000% of the total customer base of Netflix – sent shares of the Silicon Valley company plunging and prompted a shareholder to file a lawsuit accusing the television titan of Streaming for not having specified that the subscriber numbers were at risk.
Competition in the television market in Streaming has intensified, especially from Disney+, with the cost of producing coveted original shows also increasing.
New York Comic Con 2021 – Day 3 Bryan Bedder GETTY IMAGES NORTH AMERICA/AFP
Disney said that while its television service in Streaming continues to grow strongly, its resorts and parks generally operate without any of the significant Covid-19 related capacity restrictions that were in place last year.
The pandemic continues to hamper movie and TV production, Disney said, but it has been able to release movies in theaters so far this year.
"Our slate for the rest of this year is incredibly strong," Chapek told analysts while discussing the company's show lineup for the Streaming and theatres.
Chapek acknowledged the difficulties in getting Disney films released in China, saying the situation there is "very fluid and complicated."
He was encouraged by the fact that a freshly released "Dr. Strange" movie based on a Marvel comic book character made over $500 million in its first week, even without showing in China.
"We're quite confident that even if we continue to have difficulty securing titles in China, we will continue to do well," Chapek told analysts.
Disney shares fell nearly 3% in aftermarket trading following the release of earnings figures.
2022 © AFP
SOURCE: Reviews News
Do not hesitate to share our article on social networks to give us a solid boost. 🤟