Leaked Disney+ financials may shed light on recent price hike
Leaked data reveals Disney+ earned about $2.4 billion in Q2 2024, comprising 43% of Disney's direct-to-consumer revenue. Subscriber numbers increased, and prices for streaming services rose by up to 25%.
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Leaked financial data from Disney indicates that Disney+ generated approximately $2.4 billion in revenue during the fiscal quarter ending March 30, 2024. This figure, which Disney typically does not disclose, was revealed through a data breach involving a hacking group called Nullbulge. The leak included extensive internal communications and documents, although Disney has not confirmed the accuracy of this information. The reported revenue accounts for about 43% of Disney's total direct-to-consumer revenue of $5.64 billion for the same quarter, which reflects a 13% increase from the previous year. Additionally, subscriber numbers for Disney+ and Hulu rose year-over-year. Just before announcing its Q3 financial results, Disney implemented price increases of up to 25% across its streaming services, likely aimed at encouraging customers to opt for bundled packages. Disney's CFO suggested that the price hikes were justified by the value of its streaming catalog. The leaked data provides insight into Disney's financial performance and strategic decisions regarding its streaming services.
- Disney+ generated approximately $2.4 billion in revenue for Q2 2024.
- The revenue represents about 43% of Disney's total direct-to-consumer revenue.
- Subscriber counts for Disney+ and Hulu increased year-over-year.
- Disney raised prices for its streaming services by up to 25%.
- The leaked data came from a significant breach involving a hacking group.
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8 commentsI am sure Disney is renting Disney+ ancient content at premium market rates and so the platform appears to be unprofitable.
https://thewaltdisneycompany.com/app/uploads/2024/05/q2-fy24...
So, the streaming service (which is largely back-catalog?) seems to be subsidizing other stuff. I’d hope that most of the $2.4b is going into new content / artists, but I’m guessing it is not.
What happened to the company that made Cool Runnings and other great films?
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