American Leisure and Entertainment Giant The Walt Disney Company posted a net loss of $460 million. in the third quarter of the fiscal year, compared to a profit of $1,409 million recorded in the same period the previous year, according to the company.
The Walt Disney Company CEO Robert A. Iger stressed that the results of the quarter reflect what the multinational has achieved. thanks to the “unprecedented” transformation taking place at Disney restructure the company, improve efficiency and bring creativity back to the core of the business.
Transnational turnover between April and June it reached $22.330 million, 3.8% above the income corresponding to the same period of the previous year.
By Business Segment, Media & Entertainment Division its turnover decreased by 1%, to $14,004 million, while the amusement parks division’s revenue rose 13% to $8,326 million.
By the end of the third trimester Disney has registered 105.7 million subscribers to its Disney+ service.while ESPN+ paid users reached 25.2 million and Hulu reached 48.3 million users.
Thus, in the first nine months of his tenure as The Walt Disney Company announced net attributable income of $2.09 billion.almost 30% less than a year earlier.
Turnover of a multinational corporation in the first nine months reached $67,657 million8% more.
In terms of forecasts, the company offered surpass its original registration goal of $5,500 million in savings, as well as improving its direct operating income for consumers by about $1 billion in just three quarters.
The Walt Disney Company announced this Thursday that it will start operating in the European market, which includes Spain and Canada, from November 1st. new ad planafter the previous and “successful launch” of this modality in the United States.
Image: Reuters
In this regard, the multinational company explained that as the prices of various plans will be updated later this year, subscribers in the United States will have access to new combo plan without adsstarting Sept. 6 with Disney+ Premium and Hulu for $19.99/month.
On the international level, Disney+ is also expanding the options. and value with the launch of the new “Standard” tier as well as “Standard with Ads” in select markets in Europe, the Middle East and Africa (EMEA) and Canada.
Specifically, new ad-supported plans will cost €5.99 per month in EMEA and $7.99 per month in Canada.
In addition, existing subscribers in the respective markets will remain at the “Premium without ads” level when their subscription price goes up in December, unless they decide to upgrade to one of the new, cheaper plans.
(Europe Press)
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
