Disney profit beats forecasts as streaming plans expand
Updated 3 months ago3 new reports, including New York Post, Fortune, MarketWatch.
The short version
Disney reported third-quarter profit that topped Wall Street forecasts, fueled by strong theme park attendance and box office success. The company also outlined plans to expand its streaming business, including exploring a free ad-supported tier.
Disney's third-quarter profit beat Wall Street estimates, according to multiple reports.6,7,1 The company reported revenue of $25.2 billion for the quarter, up 7% from the prior year.5 Disney's theme parks in California and Florida contributed to the profit beat, with resilience noted in domestic attendance.7
Box office revenue reached $1 billion, driven by the film "Toy Story 5".2 Disney CEO Josh D'Amaro confirmed the company is exploring a free streaming option for consumers.4,8 D'Amaro stated that a free tier would help reach more price-sensitive customers, calling it a strategic priority.4,8
Disney also announced a global short-form content sharing deal with TikTok, bringing Disney-focused fan content to the Disney+ app.2 The company is considering launching FAST (free ad-supported streaming TV) channels as part of its streaming growth strategy.3 Disney's profit beat was attributed to soaring income from its entertainment division and theme parks, offsetting international tourism weakness.7,2
“We are exploring a free product for consumers.”
“A free tier will help drive growth and expand the streaming service's reach to a customer segment that's more price sensitive.”
Why it matters
Disney+ is a subscription streaming service launched by The Walt Disney Company in November 2019, competing with platforms like Netflix and Amazon Prime Video.4,8
FAST channels are free, ad-supported streaming services that offer linear TV-style programming, popularized by platforms like Pluto TV and The Roku Channel.3
The Walt Disney Company operates four main business segments: Entertainment, Parks, Experiences and Products, Disney Media and Entertainment Distribution, and Studio Entertainment.7
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