Theme parks bounce back as Disney + subscriber numbers slows dramatically
The Walt Disney Company
In the fourth quarter, Disney’s diluted earnings per share (EPS) from continuing operations for the quarter was $ 0.09, compared to a loss of $ 0.39 for the prior year quarter. Diluted EPS for the quarter was an income of $ 0.37 compared to a loss of $ 0.20 in the prior year quarter. Diluted EPS from continuing operations for the year ended October 2, 2021 represented income of $ 1.11, compared to a loss of $ 1.57 the previous year. Diluted EPS for the year rose 13% to $ 2.29 from $ 2.02 the year before. Results for the quarter ended October 2, 2021. The company reported sales of $ 18.53 billion in the quarter.
Disney announced during the call that Disney + has a total of 118.1 million subscribers to date. ESPN + and Hulu have 17.1 million and 43.8 million subscribers, respectively.
Disney Parks, Experiences and Products segment revenue for the quarter increased to $ 5.5 billion from $ 2.7 billion in the prior year quarter. The segment’s operating results increased by $ 1.6 billion to revenue of $ 640 million.
News from the Parks, Experiences and Products segment
The fourth quarter was the first full quarter since the start of the pandemic, with all parks around the world open to visitors. Disney Cruise Line has also resumed service with the four ships that have set sail. The Disney Wish is expected to launch on its inaugural cruise in June 2022, with the inaugural season already nearly 90 percent booked.
Walt Disney World has rolled out the new planning service at Disney Genie Parks. “The response to the service in its only first month has been overwhelmingly positive,” Chapek said. Disney mentioned that nearly a third of all park patrons upgrade to use Disney Genie +, an extra $ 15 per day per person, to spend less time in lines around the four. theme parks. Walt Disney World guest spending increased 30% in the quarter compared to the pre-pandemic 2019 period. Disney Genie will soon launch at Disneyland.
A new experience coming to Walt Disney World is Star Wars: Galactic Starcruiser, which opens March 1, 2022, has almost sold out for the first four months of “trips” for the premium experience.
Disney is almost done reducing the physical footprint of commerce outside of theme parks with things like The Disney Store. Disney is pivoting to focus on its e-commerce platform, shopDisney.com, and retail partnerships such as Disney Store at Target, which will triple the number of locations by the end of the year.
News from Disney +
Marvel Studios Falcon Eye debuts on November 24, 2021 and Star Wars: The Book of Boba Fett debuts December 29 on Disney +. Turning to 2022, Chapek said the new content will mostly air from July through September. There are also over 340 local original titles in various stages of development over the next few years.
Starting Friday, November 12, Disney + will launch in South Korea and Taiwan, and Hong Kong on November 16. “In just two years, we are now present in more than 60 countries and in more than 20 languages. Next year, we plan to bring Disney plus to consumers in more than 50 additional countries, including Central and Eastern Europe, the Middle East and South Africa, ”Chapek said.
Disney expects Q4 2022 to be more revealing of what the list of content releases will look like once it has content from all of Disney + ‘s creative engines. The final quarter will be the first time in the streaming service’s history that it will have original content throughout the quarter from Disney, Marvel, Star Wars, Pixar and National Geographic, including titles like Ms. Marvel, Andor, and Pinocchio. Disney believes it can meet the target of 230 to 260 million subscribers by fiscal 2024 that they set during Investor Day last year. They are also confident that Disney + will achieve profitability in fiscal 2024.