The Disney group published results above expectations on Wednesday, carried by subscribers’ gains and better profitability on streaming, and announced the opening of a new amusement park in Abu Dhabi.
In the first three months of the year, the entertainment giant has garnered 1.4 million additional subscribers to its Disney+online video platform, which now has 126 million.
It is a recovery, after a decline during the last quarter of last year (-700,000), while Wall Street, and Disney itself, anticipated a new contraction.
By adding the subscribers to its Hulu platform, whose programming targets adults more than Disney+, the group has 180.7 million accounts, 2.5 million more than in the previous quarter.
Having become profitable in 2024 only, five years after its launch, streaming has generated an operational profit septuplely over a year.
Disney nevertheless provides only a “modest progression” of its portfolio over the current quarter.
“Building a streaming platform has cost dearly, but the bases are now laid, costs are reduced and income from new subscribers directly feed the profits,” said Aarin Chiekrie, Hargreaves Lansdown analyst.
A park in Abu Dhabi
Another striking fact of the day, the announcement of the opening of a seventh amusement park in Abu Dhabi, via a license agreement with the Emirati Miral group, which will build and manage the site.
The park, installed on the island of Yas Island, will also include hotels, restaurants and shops.
The agreement passed with Miral allows Disney to engage no investment in the project, which will be fully funded by the Emirati group.
The American entertainment giant will oversee the site’s plans and provide his partner with “operational expertise”.
In exchange for his support and the use of the Disney universe, Miral will pay him royalties and commissions.
“The region is sufficiently distant from other parks so that we do not fear cannibalize existing sites,” said Dhabi, Disney boss, Bob Iger from a conference on Wednesday.
For the first three months of the year, net profit is $ 3.4 billion, clearly above that of the same quarter of 2024 (216 million), weighted by a depreciation of assets linked to its Indian subsidiary.
-Reported by action and excluding exceptional elements, given the most followed by the financial markets, the profit reaches 1.45 dollars, that is significantly more than the $ 1.19 provided by analysts, according to a consensus established by FactstSet.
In addition to streaming, the Burbank group (California) was also able to count on the found dynamism of its amusement and cruises in the United States, whose revenues increased by 9% over a year (only 2% in the previous quarter).
It increases 7% compared to the same period of 2024
This performance is partly due to the increase in average spending per visitor in the parks and a larger volume of cruises, in particular thanks to a strengthening of the ship of ships.
Growth in the United States has done more than compensating for international flexibility (-5%), awarded to a slowdown in expenses in Chinese parks.
The third main branch of Disney, the dissemination of sporting events, mainly via the ESPN television group, too, saw its income progress (+8%), but its profitability has deteriorated due to higher costs, in particular production.
In total, turnover is displayed at $ 23.6 billion, up 7% compared to the same period of 2024.
Disney noted his profit forecast by an exceptional share, which he now sees 16%leap, while he was so far on a gain less than 10%.
The publication was well received by the market. Around 2:20 p.m. GMT, the title took almost 10%.
After two disappointments in the first quarter, with the new part of “Captain America” and the version in real shots of “Snow White”, Disney firmly counts on several titles on the cinema side, recalled Bob Iger.
The real version of “Lilo & Stitch” (at the end of May) and the new production of the Pixar studio, “Elio” (mid-June), must thus be released during the second quarter.
Last weekend, the latest version of the Marvel universe, “Thunderbolts”, also experienced a better start than expected.
“Our program (of films) for the year and a half that comes is the strongest I have seen since 2019,” said Bob Iger, “our best year. »»
