Disney earnings hit by theme parks and movies but boosted by streaming



The Walt Disney Company has successfully ridden out one of the hardest periods in its history. Bob Iger had spent his tenure building up a company with strong branded content that could then bring in revenues from several different channels. However, the Coronavirus temporarily disabled two of the most profitable channels.


Movie viewing and theme park visitation ground to a halt, and while Disney World is open, most theme parks and movie theaters remain closed. Despite these headwinds, the company was able to squeeze out a slight profit, fueled by shocking numbers from their streaming businesses.


The company’s direct to consumer platforms reached the major milestone of 100 million total subscribers. Disney+ alone hit 60.5 million, reaching the guidance of 60-90 million subscribers by 2024 way ahead of schedule.