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Despite a rough-and-tumble several months related to the coronavirus pandemic, Disney is dazzling financially, and execs are understandably grinning from ear to ear.
During The Walt Disney Company’s fourth-quarter 2021 earnings call yesterday, news about the company’s financial status and gains was shared, and it was good news for the House of Mouse indeed as Disney+ added more subscribers than the company expected during the holiday season. According to MarketWatch, Disney also saw gains as it saw all-time-high records in revenue and profit in its theme parks division for the fourth quarter 2021, which ended on December 31.
According to Forbes, Disney reported quarterly revenue of $21.82 billion. During yesterday’s earnings call, the company announced that its streaming platform now boasts nearly 130 million subscribers (as of January 1, 2022). That’s an increase of nearly 12 million subscribers during the fourth quarter. The company further announced that in total, Disney now has over 196 million subscribers across all its platforms.
Disney’s Parks, Experiences, and Products division saw fourth-quarter revenue of $7.2 billion–higher than the company had projected. During the same quarter in 2020, the company saw revenue of $3.5 billion for the same division, clearly a huge difference easily attributed to challenges presented by the looming coronavirus pandemic.
“We’ve had a very strong start to the fiscal year, with a significant rise in earnings per share, record revenue and operating income at our domestic parks and resorts, the launch of a new franchise with Encanto, and a significant increase in total subscriptions across our streaming portfolio,” CEO Bob Chapek said.
Credit: Walt Disney Animation
Chapek also talked about the new Genie+ and Lightning Lane services that replaced the now-defunct FastPass+ system in October 2021, saying that between 33% and 50% of Guests who visited the Walt Disney World Resort during the fourth quarter of 2021 purchased these services marketed as a Guest convenience that helps make the most of a day spent at a central Florida Disney Park.
Credit: Disney/livingbydisney
In addition to news about the company’s overall revenue and its theme park revenue, Chapek also shared news of upcoming debuts set for 2022, including Ms. Marvel, new PIXAR shorts featuring Baymax from Big Hero 6, a new Cars-themed series of shorts, and the live-action remake of Pinocchio starring Tom Hanks.
Credit: Disney
Chapek also discussed the upcoming debuts of experiences at Disney Parks, including the 30th anniversary celebration at Disneyland Paris which kicks off on March 6, as well as this summer’s opening of Guardians of the Galaxy: COSMIC REWIND at EPCOT, among other new experiences.
