Disney's media business is thriving with profitable streaming services and successful movie releases

From CNBC: 2024-08-07 12:32:18

– Disney’s media business is no longer dragging the company down, with streaming services turning a profit for the first time ever, making $47 million this quarter.
– The success of “Inside Out 2” and “Deadpool & Wolverine” has propelled Disney to become the first studio in 2024 to surpass $3 billion in worldwide ticket sales.
– Despite moderation in demand for theme parks, Disney CEO Bob Iger is bullish on the future of the company’s streaming services, hinting at growth in fiscal 2025.
– Disney plans to crack down on password sharing, increase streaming prices, and release a lineup of highly anticipated movies to further strengthen its position in the market.
– The company intends to invest $60 billion in its theme parks and cruise lines over the next decade to assure investors that its media units are not hindering share prices.



Read more at CNBC: Disney’s media assets are generating more excitement than parks