Disney reported $3.14 billion in profits in 2022, compared to $1.99 billion in profits in 2021. The company’s profitability has substantially changed since 2019 when Disney completed the acquisition of 21st Century Fox with a 71.3 billion deal.
While Disney was highly profitable in 2022, it also faced substantial challenges in 2023.
In the fiscal 2023 third quarter, Disney’s direct-to-consumer segment, which includes Disney+, incurred an operating loss of $512 million[3].
The company’s traditional TV business, including channels such as ABC and ESPN, reported a 23% decline in profit, amounting to $1.89 billion[3].
Disney’s Parks, Experiences, and Products business is the most profitable, with its domestic theme parks and resorts gradually recovering from the COVID-19 pandemic and generating the most profits[1].
In the fiscal 2023 third quarter, Disney reported a net loss of $460 million, compared to a net income of $1.409 billion in the same period the previous year[3].
Despite challenges, Disney’s annual revenue for 2019 amounted to $69.607 billion, marking a 17.12% growth from 2018[5].
These facts illustrate the various challenges and successes impacting Disney’s profitability across its different business segments.
It would be hard to argue for a more recognizable entertainment brand than Disney. Disney is, of course, synonymous with Walt Disney, but it was Walt and his brother Roy who started the company in 1923 in Burbank, California. Disney content is now broadcast on over 100 channels in 34 different languages across the globe.
Gennaro is the creator of FourWeekMBA, which reached about four million business people, comprising C-level executives, investors, analysts, product managers, and aspiring digital entrepreneurs in 2022 alone | He is also Director of Sales for a high-tech scaleup in the AI Industry | In 2012, Gennaro earned an International MBA with emphasis on Corporate Finance and Business Strategy.
