Disney results get box office boost

Mr Incredible, Elastigirl and Edna Mode pose at the UK Premiere of Disney-Pixar's 'Incredibles 2' at BFI Southbank on July 8, 2018 in London, EnglandImage copyright
Getty Images

Image caption

Incredibles 2 and Ant-Man and the Wasp boosted Disney’s results

Walt Disney saw higher profits and revenue in the most recent quarter, boosted by blockbusters Incredibles 2 and Ant-Man and the Wasp.

Revenues in the media company’s studio division jumped 50% in the three months to 29 September to $2.15bn (£1.6bn).

The gain lifted the firm’s total revenues to $14.3bn, up 12% year-on-year, while profits rose 33%.

The box office success provided a boost to the company as it shifts its focus to online streaming.

The firm has already launched a sports-focused online streaming site, and is planning one for its Disney brand, to launch in 2019.

The move comes amid declines in television advertising and increased competition from digital giants such as Netflix and Amazon.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *