{"id":249508,"date":"2021-05-14T10:20:37","date_gmt":"2021-05-14T07:20:37","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/disney-sees-positive-signs-for-business-as-streaming-growth-cools\/"},"modified":"2021-05-14T10:20:37","modified_gmt":"2021-05-14T07:20:37","slug":"disney-sees-positive-signs-for-business-as-streaming-growth-cools","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/disney-sees-positive-signs-for-business-as-streaming-growth-cools\/","title":{"rendered":"#Disney sees positive signs for business as streaming growth cools"},"content":{"rendered":"

“#Disney sees positive signs for business as streaming growth cools<\/strong>”<\/p>\n

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\n The Disney+ logo is seen on the backdrop for the World Premiere of “The Mandalorian” at El Capitan theatre in Hollywood on November 13, 2019
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The Walt Disney Company on Thursday said it was seeing “encouraging signs of recovery” across a wide range of its businesses while its streaming television service grew slower than expected in the recently ended quarter.<\/p>\n

TV streaming service Disney+ ended the quarter with nearly 104 million subscribers, fewer than expected but still part of a stable of “direct-to-consumer” services that saw audiences swell as people turned to the internet for entertainment because of the pandemic.<\/p>\n

Disney said that it was seeing positive signs across its operations including parks, cruises, and resorts which took the hardest hit from COVID-19.<\/p>\n

“We’re pleased to see more encouraging signs of recovery across our businesses, and we remain focused on ramping up our operations,” Disney chief executive Bob Chapek said in the earnings release.<\/p>\n

“This is clearly reflected in the reopening of our theme<\/a> parks and resorts, increased production at our studios, the continued success of our streaming services.”<\/p>\n

Disney held firm to its target of reaching 230 million to 260 million subscribers by the year 2024.<\/p>\n

“Disney+ has been a major success for the company, however, growth is significantly decelerating as the initial pandemic boost has waned,” said eMarketer analyst Eric Haggstrom.<\/p>\n

Executives on the earnings call said show production is returning to full levels as it continues to invest in new content for its streaming services as well as theatrical releases.<\/p>\n

The entertainment titan’s franchises include Disney, Marvel, Pixar and Star Wars.<\/p>\n

Disney also owns ESPN, Hulu, and Hotstar.<\/p>\n

“Hulu remains one of the market leaders in streaming video advertising,” Haggstrom said.<\/p>\n

“Hulu has become one of the crown jewels in Disney’s massive video ad business alongside ABC and ESPN.”<\/p>\n

La Liga on display<\/b><\/p>\n

US sports broadcasting giant ESPN has acquired television rights for Spain’s La Liga in a record deal worth $1.4 billion over the next eight seasons starting from the 2021-2022 campaign, the company said Thursday.<\/p>\n

A statement from ESPN said all La Liga game<\/a>s each season would be available live through its streaming platform ESPN+, with selected games on its traditional networks.<\/p>\n

The value of the agreement was not officially disclosed, but a source with knowledge of the deal confirmed to AFP it was worth $1.4 billion or $175 million for each of the eight seasons covered.<\/p>\n

“This deal bolsters ESPN-Plus’s position as a top destination for soccer in the United States,” Chapek said.<\/p>\n

Mask-less Mickey?<\/b><\/p>\n

A relaxing of mask-wearing mandates by US officials on Thursday was welcomed as good news<\/a> for Disney parks.<\/p>\n

The Centers for Disease Control and Prevention (CDC) removed mask requirements for people who are fully vaccinated against COVID-19, a watershed moment in the pandemic that comes more than a year after the federal government recommended people cover their faces in public.<\/p>\n

“Today’s guidance from the CDC … is very big news for us,” Chapek said.<\/p>\n

“Particularly if anybody has been in Florida in the middle of summer with a mask on\u2014that could be quite daunting.”<\/p>\n

Disney’s parks and resorts are likely to take several years to return to pre-pandemic attendance levels, according to Third Bridge senior analyst Joe McCormack.<\/p>\n

Disney reported revenue of $15.6 billion, down 13 percent from the same period a year earlier.<\/p>\n

Net income for the company was reported at $901 million.<\/p>\n

Shares in the Los Angeles-based entertainment giant were down four percent in after-market trades that followed release of the earnings figures.\n <\/p>\n\n

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Disney streaming services gaining ground on Netflix\n <\/p><\/div>\n

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\n \u00a9 2021 AFP<\/p>\n

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Citation<\/strong>:
\n Disney sees positive signs for business as streaming growth cools (2021, May 14)
\n retrieved 14 May 2021
\n from https:\/\/techxplore.com\/news\/2021-05-disney-positive-business-streaming-growth.html<\/p>\n

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