Disney Parks Thrive in Q2 with Addition of 1.4 Million Streaming Subscribers

per share, which beat Wall Street’s expectations of $1.18. Revenue for Disney rose 7% to $23.62 billion, also exceeding projections.

The success of Disney’s Entertainment division, which encompasses its movie studios and streaming service, saw a 9% increase in revenue. This was complemented by a 6% increase in revenue for the Experiences division, which includes Disney’s theme parks. Recent blockbuster hits like “Moana 2” and “Mufasa: The Lion King” have contributed to this growth. Additionally, Disney’s latest film, “Thunderbolts,” is currently leading the box office.

Disney’s streaming service, Disney+, continues to flourish. The direct-to-consumer business, which includes Disney+ and Hulu, reported quarterly operating income of $336 million, a significant improvement compared to the prior year. With a total of 126 million Disney+ subscribers, the platform experienced a 1% increase in paid subscribers.

The success of Disney’s content is evident in the streaming numbers. “Moana 2,” for example, has garnered over 139 million hours of streaming time since its debut on Disney+. The first “Moana” film remains the most watched movie on Disney+, with over 1.4 billion hours streamed. This success at the box office translates into engaging content for Disney’s streaming platform.

While Disney’s domestic parks saw a 13% increase in operating income, international parks faced challenges, with a 23% decline due to softness in Shanghai and Hong Kong. Despite these fluctuations, Disney remains committed to managing its diverse business components effectively.

Looking ahead, Disney is projecting full-year adjusted earnings of $5.75 per share, surpassing analyst expectations. As the company continues to navigate its business operations, it is also focusing on finding a successor to CEO Bob Iger. Internal and external candidates are being considered, with Disney aiming for a smooth leadership transition.

Overall, Disney’s second-quarter performance reflects a strong balance between its theme parks, entertainment division, and streaming services. With successful box office hits and a growing subscriber base, Disney’s position in the entertainment industry remains robust.