At a Glance:
- Disney+ is soon to announce reports from the holiday quarter.
- Analysts predict that Disney+ will surpass 8.5 new subscribers.
- Disney theme parks are major contributors to the Walt Disney earnings, film studios still suffer.
Disney+ is expected to announce the results of the holiday quarter. The Wall Street analysts will examine if the popularity of Star Wars bounty hunter Boba Fett, the Beatles, and Hawkeye have been successful in increasing the subscriber growth.
If the results are positive, the streaming service sector will restore its confidence. Considering the weaker performance of Netflix in the Q1 growth that wiped the stock market gains of the company amid the pandemic.
Disney+ might hit 8.5 million new subscribers
Disney+ is estimated to surpass 8.5 million new subscribers. If these numbers turn out to be accurate, the streaming service will have a total of 127 million subscribers in 2021 and might fulfill half of Disney’s 2024 subscriber goals.
In fiscal Q4, They attracted 2. 1million new subscribers. During the fiscal Q1, the streaming service released a documentary “Get Back” that showcased unseen footage of The Beatles working together in 1969. It also added the Marvel hero Hawkeye series and released the first episode of “The Book of Boba Fett”. They has forecasted that it will reach 230 million to 260 million by the end of fiscal 2024.
Earnings and Profits for Disney
The major contributor to Walt Disney’s earnings has been the Disney theme parks. With theme parks opening for the public, they are projected for a rebound of 76% to $6.3 billion.
Despite the profitable return from the theme parks, the film studio remains still affected by the COVID-19. The studio releases that included the Disney animated film “Enchanto”, “West Side Story” by Steven Spielberg, and Marvel’s “Eternals” accumulated $2.1 billion of the box office in the U.S. and Canada.
COVID-19 has been hard-hitting on theatre releases making it another tough quarter. The only movie that stood the wrath was another Marvel release, Spider-Man: No Way Home. The movie was successful in attracting a big crowd to the big screens and making record success.
The Analysts are predicting that report Q1 earnings of 63 cents/share on revenue of $20.91 billion.
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