Walt Disney is posting big profits thanks to strong demand for its streaming service and once again well-visited theme parks. In the past quarter, the US entertainment giant achieved a net result of $ 1.15 billion after only $ 29 million in the same period last year.
According to yesterday’s data, Netflix competitor Disney+, which has only been on the market for a good two years, reached 129.8 million subscribers worldwide at the start of the year. This is 35 million more than a year earlier and also more than analysts expected. In the stock market, Disney’s quarterly report caused enthusiasm. The stock jumped eight percent in after-hours trading.
Amusement park business is also starting up again
In addition to the theme parks and the movie business with the streaming offer, Disney also owns cruise ships and various television channels. All of them together generated sales of around $ 21.8 billion in the first fiscal quarter ended January 1, which is 34 percent more than in the same period last year. It is expected that in view of the dwindling Omikron concerns, the business with theme parks will now gain even more momentum. In the past quarter, revenues doubled to $ 7.2 billion.
The Disney company will be 100 years old next year. Company CEO Bob Chapek said he was very confident in defining entertainment “for the next 100 years” as well.