Disney recently released its earnings report for the second quarter of 2024 and held its quarterly earnings call. It’s already been a big year for the company, especially with Tokyo DisneySea’s MASSIVE expansion, Fantasy Springs, opening soon, the company moving ahead with plans for its OG resort Disneyland, and its plans to expand Magic Kingdom and re-theme part of Disney’s Animal Kingdom.

The second quarter earnings report gave us a good look at the company’s general revenue, streaming, and more. We also learned how Disney Parks are faring financially, so let’s dig into those details of what we’ve learned about Disney’s Parks, Experiences, and Products division.

Overall

Disney Parks, Experiences, and Products revenues for the quarter increased overall by 10% from $7.6 billion in the same quarter last year to $8.3 billion this quarter. The better results this year were due to Disney World, Disney Cruise Line, and the international parks having higher results. However, the increase was offset by Disneyland having lower results.

International Parks

Disney’s international parks are also doing well. Revenue internationally increased by 29% since last year at this same time. This year, the international parks saw a revenue of $1.5 billion this quarter compared to $$1.1 billion in the same quarter last year.

Overall, this increase at the international parks was due to higher ticket prices, an increase in food, beverage, and merchandise being sold, higher attendance and occupied room nights at hotels, and an increase in the number of days the parks were open this quarter. Of course, new offerings like World of Frozen in Hong Kong helped a great deal as well. Which is great to see right before Tokyo Disney opens Fantasy Springs!

Domestic Parks

But what about Disney World? Well, according to the report, Disney World saw an increase in revenue due to an increase in guest spending which Disney attributes to higher ticket prices. There were also higher costs inside the resort due to inflation, but the revenue generated from that was partially offset by lower depreciation and cost-saving initiatives made by the company.

As far as Disneyland goes, the West Coast park took a hit and had lower revenue this year compared to last year at this time. This is attributed to the lower percentage increase overall for the domestic parks of 7% over last year. The domestic parks had $5.9 billion in revenue compared to $5.5 billion last year. Disneyland’s lower revenue is due to higher costs driven by inflation, and while there were higher volumes of attendance, it was offset by lower occupied room nights at the hotels.

Disney Cruise Line

Disney Cruise Line is also doing well! The cruise line saw an increase in revenue this quarter which Disney attributes to a higher average ticket price. However, this was partially offset by higher costs for the company.

Consumer Products

The last part of this division is Consumer Products, which saw an increase in revenue this quarter due to higher games licensing revenue. Overall, it has been a great second quarter for Disney’s parks, experiences, and consumer products. We look forward to the coming quarter as Fantasy Springs opens, DisneylandForward gets its final vote, and Disney World begins new expansions and opens new rides!

Stay tuned to DFB for more Disney news.

See How Much It Costs to Book a Room on the Disney Treasure Cruise Ship!

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The post NEWS: Disney Reports Higher Ticket Prices Drive 7 MILLION Revenue INCREASE first appeared on the disney food blog.

We just got more information about the future of ESPN and Disney’s new ESPN sports streaming service, and it includes a BIG change coming to Disney+ THIS YEAR. 

Today is the 2024 Q2 Earnings Call meeting for The Walt Disney Company, and we are tuned into the webcast to make sure we don’t miss anything! Disney made some big announcements about its streaming service and ESPN, and we’re breaking down all the updates here.

The Walt Disney Company just gave us new details about ESPN as well as the new ESPN+ streaming service, which is a NEW streaming service for sports assets that’ll combine things from ESPN, Warner Bros. Discovery, and FOX. This new streaming service will be available to ESPN+, Hulu, and Max subscribers in Fall 2025, with each company owning one-third of the product.

Prior to the introduction of ESPN+ in 2025, the Disney+ app will be seeing the addition of an ESPN tile by the end of this year. This is similar to the new Hulu tile that was added to Disney+ in March 2024. So, when the ESPN tile is added, it’ll join the Disney, Pixar, Marvel, Star Wars, National Geographic, and Hulu tiles.

This addition will be “a start in terms of essentially conditioning the audience or subscribers to Disney Plus and Hulu the fact that sports is going to be there.” The Walt Disney Company is confident that sports will continue to shine moving forward, and the addition of the ESPN tile on Disney+ is just the beginning.

Bob Iger stated that The Walt Disney Company has already locked up numerous long-term deals with sports organizations, including the College Football Championships, NCAA championships, and the NFL. Iger was also confident that they would end up with an NBA deal.

This means that there will be lots of exciting live sports to watch on ESPN, and it’s good news for the upcoming launch of ESPN+ in Fall 2025. Iger said that the company feels good about the potential package that they will end up with. The company mentioned that they are currently being selective with international rights for sports and are mostly focused on rights in the United States. The company is “walking before [they] run in that regard.”

With the ESPN+ service, you’ll have access to multiple sports networks including ESPN, ESPN2, ESPNU, SECN, ACCN, ESPNEWS, ABC, FOX, FS1, FS2, BTN, TNT, TBS, truTV, as well as ESPN+. This new streaming service will also include shopping features, robust personalization features, and ESPN Bet. ESPN Bet is ESPN’s sportsbook betting service that debuted in 2023. The Walt Disney Company has big plans for this new sports streaming service. The full suite of ESPN’s channels will become a standalone and highly interactive streaming service in Fall 2025.

In a previous earnings call in 2023, Disney CEO Bob Iger spoke about “building ESPN into the preeminent digital sports platform.” The addition of ESPN to Disney+ and the development of ESPN+ are steps towards this goal.

We will keep you updated as we learn more! Make sure to stay tuned to DFB as we report on all the conversations during today’s earnings call.

Read more about the HUGE Disney+ change that just happened!

Will you be signing up for this new streaming service? Let us know in the comments!

The post BREAKING: Huge CHANGE Coming to Disney+ THIS YEAR first appeared on the disney food blog.

Disney+ added more than six million subscribers in the second quarter of 2024.

While they are anticipating a loss in streaming services in Q3, Disney also noted they expect Disney+ to achieve profitability in Q4 of 2024 and further into fiscal 2025.

Disney+ will be cracking down on password sharing soon.

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The post Disney+ Adds Over 6 Million Subscribers in Second Quarter of 2024 appeared first on WDW News Today.

Disney CEO Bob Iger returned to his job in 2022 and has since been busy working on several key priorities he has for the company before he departs again in 2026.

Although his job includes working with everything going on with the theme parks and Disney movies, he stated then that his number one priority was making Disney’s streaming profitable. On May 7th, the Walt Disney Company held its second quarter 2024 financial earnings call and we learned more about how streaming is working out for the company.

During Disney’s Q1 2024 earnings call, the company still seemed on track to reach profitability with streaming by the fourth quarter of 2024.

First, we can take a look at the growth in subscribers overall. Compared to the end of 2023, paid Disney+ subscribers in the United States and Canada have increased to 54 million, resulting in a 17 percent growth between December and March. Internationally, Disney+ and Hotstar subscriptions decreased to 63.6 million from 65.2 million — resulting in a 2 percent drop. Disney+ Core subscribers increased by more than 6 million in the second quarter, and Disney+ Core ARPU increased sequentially by 44 cents.

Now, let’s see what Disney’s average monthly revenue per paid subscriber looks like. This number decreased by 2 percent domestically. Internationally, on the other hand, average monthly revenue increased by 13 percent. International monthly revenue (excluding that from Hotstar) increased from $5.91 to $6.66 due to “increases in retail pricing and a lower mix of subscribers to promotional offerings.”

 

On the Hulu side, in Q1 2024, Hulu subscribers were up 1.2 million from the previous quarter. Now, Hulu subscribers have increased by a total of one percent if looking at both live television and streaming. Subscribers for both now sit at 50.2 million.

Disney also said, “Sports operating income declined slightly versus the prior year, reflecting the timing impact of College Football Playoff games at ESPN, offset by improved results at Star India.” Making ESPN the preeminent sports streaming service is one of Bob Iger’s most ambitious goals, so it’ll be interesting to see if these numbers turn themselves around during the second half of the year.

We’ll be keeping an eye out for more big Disney news, so stay tuned to DFB for more.

Everyone Thought Streaming Would Fix This Problem…But It Only Made Things WORSE

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The post BREAKING: Disney+ Subscribers INCREASED by 6 Million. Are Iger’s Plans WORKING? first appeared on the disney food blog.