Disney Plus hits almost 29M subscribers in 3 months

Disney Plus hits almost 29M subscribers in 3 months”

During the quarter, Disney says its direct to consumer and worldwide business (which includes streaming) saw revenue increase from $0.9 billion to $4.0 billion year-over-year, while the unit's operating loss increased from $136 million to $693 million.

On the earnings call, Iger teased that there will be more Mandalorian after season 2 and that Disney Plus is looking into spinning off characters from the standout Star Wars series.

Iger also gave an update on Disney Plus subscription sign-ups and it was very good news for the company. "Thanks to our incredible collection of brands, outstanding content from our creative engines and state-of-the-art technology, we believe our direct-to-consumer services, including Disney+, ESPN+, and Hulu, position us well for continued growth in today's dynamic media environment". Disney+ also had a promotional tie-in with Verizon Communications Inc. The stock advanced 2.4% to $144.73 at the close in NY and is up nearly 30% in the past 12 months.

"We had a strong first quarter, highlighted by the launch of Disney+, which has exceeded even our greatest expectations", Disney CEO Robert Iger said.

Overall revenue rose 36% to $20.86 billion, beating estimate of $20.79 billion according to IBES data from Refinitiv. The number was well above the 20.8 million subscribers projected by the Bloomberg Consensus, and has since jumped to 28.6 million, Chief Executive Officer Bob Iger said Tuesday.

The drop in profit reflects costs from the company's $71 billion purchase of Fox's entertainment assets a year ago, as well as the ongoing investment in movies and TV shows for streaming.

More news: Lillard helps Portland blaze past Utah with a 51 point charge

The company's shares rose 1.3% to $146.72 in trading after the bell.

Profit at the theme parks division grew 8.6 per cent in the quarter, but Disney is now facing a new threat to its tourist business from the coronavirus.

The company has closed its Shanghai and Hong Kong park due to the outbreak.

Among those subscribers are Verizon customers, who received a free year, as well as bundle customers (people who get Disney Plus, Hulu and ESPN Plus). That countered higher costs for sports rights and fewer subscribers at ESPN.

"The quarter itself, it really seemed fairly positive", he said.

Like this



05 February 2020
First Nations’ challenges to TMX pipeline project dismissed
The federal court of appeal will today announce its decision on the latest challenge of the Trans Mountain pipeline expansion. The 95-page ruling says there is no legal basis to interfere with the federal cabinet's approval of the project.

05 February 2020
Chelsea defender Rudiger proud of Leicester double: Massive point
We need to score more from set-pieces, particularly in games against good opposition when it's tight. It would have been someone from whom I can learn and steal your ideas to add them to mine.

05 February 2020
WestJet flight diverts back to Toronto after passenger's coronavirus claim
Reports indicate that there were 243 passengers on board the flight - passengers who had their winter vacation plans disrupted. Peel Regional Police confirmed a 28-year-old man from Thornhill was arrested in connection with the incident.

05 February 2020
Eric Trump Defends Father Against Backlash Over Alice Johnson Super Bowl Ad
Donald Trump aired a couple of ads during the Super Bowl last night, one of which featured a woman named Alice Johnson . Why should he get a box to stand on? His campaign assailed Trump for his fake hair, his obesity, and his spray-on tan.

04 February 2020
Jurgen Klopp: Salah was never selfish
Ralph Hasenhuttl, on the other hand, was also proud of what his Southampton side was able to produce. The way we played was unbelievably good and I am proud and stand by our plan.

04 February 2020
World Health Organization working on recommendations for resuming flights to China
Hong Kong reported its first death from the newly identified coronavirus on Tuesday, the second outside mainland China. Around the world, airlines have suspended flights and countries have closed borders in response to the virus' spread.

04 February 2020
Kathleen Kennedy Hints at Future Star Wars Movie Female Director
And if you enjoy listening to film podcasts, why not check out Small Screen Radio wherever you get your podcasts! Then we'll finally crack open what could be one of the strangest, most obscure secrets in the sequel trilogy.

04 February 2020
Beyonce & Jay-Z sat for Super Bowl national anthem
Demi's manager, Scooter Braun , took to Instagram to thank the "Crazy In Love" rapper for the opportunity, penning: "Wow wow wow". As a partner of the NFL, Jay-Z co-produces the half-time show and has a say in who has the honour of performing the USA anthem.

04 February 2020
Suspensions And Fines Were Handed Out For The Grizzlies-Knicks Scuffle
Morris apologized via Twitter minutes after making the comments and reiterated his apology to reporters at practice on Friday. Oladipo missed more than 12 months with a quad tendon that tore near the point where it attaches to his right knee.

04 February 2020
James has a triple-double, Lakers throttle Kings
De'Aaron Fox scored 24 points and Buddy Hield 22 for the Kings, who won three of their last four. The Los Angeles Lakers (36-11) take on the Sacramento Kings (18-30) at Golden 1 Center.