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.
Sources:
[1] https://www.investopedia.com/how-disney-makes-money-4799164
[2] https://apnews.com/article/disney-earnings-iger-fox-hulu-bdb8b52dbeca1358270d0ee60e97cbfd
[3] https://www.vintageisthenewold.com/game-pedia/is-disney-in-financial-trouble
[4] https://www.byrdseed.com/the-surprising-financial-failures-of-walt-disney/
[5] https://www.investing.com/academy/statistics/walt-disney-facts/