Disney+ Distracts Investors From Pandemic Woes

Disney’s core businesses may have gotten pummeled during the third quarter as a result of COVID-19, but investors didn’t even flinch Tuesday when the company reported earnings. Instead, nascent streaming service Disney+ stole the show and sent the stock soaring in after-hours trading, leaving some scratching their heads.

Disney did manage to post a surprise adjusted profit during its Q3, but overall revenue plunged 42% from last year, to $11.78 billion. Aside from Disney’s direct-to-consumer & international segment, which houses Disney+, every single other unit saw year-over-year revenue declines. Disney’s parks segment may have been hit the hardest, but the blow to its studio entertainment segment was also jaw-dropping. Unable to release any new films in theaters since the pandemic ravaged the U.S. in March, studio entertainment revenue sank 55% year-over-year to $1.7 billion.

Disney’s initial goal for Disney+ was to reach 60 million to 90 million subscribers by 2024. Tuesday’s announcement puts Disney four years ahead of plan by hitting the lower end of its target less than one year after launch. Pandemic or not, it was a pretty impressive feat.

I really hope after 2 years disney+ will make top on that chart becuase getting 60.5 million subscribers in just 9 months is not a small thing its a great thing for netflix itself took 3 years for completing 100 million subscribers but disney+ already got half of the subcribers

Quibi... How much 💸💸 has Meg Whitman funneled into that startup?

hedgeclip save $VIAC

Yes, let's laud them for distracting people from a deadly reality.

Ha...I got all top three platforms too!

when is The Stand series releasing

HBOuch Max tho

Is this not counting HBO Go and HBO Now with HBO Max?

This graph is bullshit unless they're all normalised to today, or to the same point in time. You can't compare Jan 2020 to April 2021.

heidi_chung, y’all reported back in January Apple TV+ as having 33M subs... But okay.

^^^Anticipated subscriber count by April 2021. Anticipated by who?

I may subscribe to CBS All Access but how the hell is Hulu just edging it out? Though they’re not like Disney they allow Hulu, Netflix and Amazon pay for classics like Twin Peaks. I wonder is we’ll be getting a season 4 announcement soon..

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