Disney's Streaming Swings to $321M Profit as Disney+ Adds 4.4M Subscribers; Projects $1B Profit in 2025

Nov 14, 2024, 02:08 PM

The Walt Disney Company reported its fiscal Q4 2024 earnings, revealing that its streaming business, including Disney+, Hulu, and ESPN+, swung to a $321 million operating profit for the quarter after years of heavy investment, cutting $2.6 billion in losses in one year. Disney+ added 4.4 million subscribers during the quarter, reaching 122.7 million Disney+ Core paid subscribers, better than expected. The company shared growth expectations through 2027, projecting profits to jump over the next three years and expects more than $1 billion profit in its streaming division for fiscal 2025. Disney announced plans to spend $24 billion on content in fiscal 2025. CEO Bob Iger had a hot-mic moment revealing that about 60% of new Disney+ subscribers in the US are opting for the ad-supported tier. Bob Iger stated, "We see a consumer that's slowly but steadily likely to get better."