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Disney revenues rise in Q3 as Disney+ hits 116 million subscribers

The Walt Disney Company’s revenues for the third quarter were up 45% to US$17 billion, as subscribers across the company’s direct-to-consumer services hit a combined 174 million. Disney’s Media and Entertainment Distribution ...
August 13, 2021

The Walt Disney Company’s revenues for the third quarter were up 45% to US$17 billion, as subscribers across the company’s direct-to-consumer services hit a combined 174 million.

Disney’s Media and Entertainment Distribution unit posted $12.7 billion in revenues for Q3, up 18% from the year-ago quarter.

Direct-to-Consumer revenues surged 57% to $4.8 billion, with subscription gains across the board. Disney+ subscribers soared once again to 116 million, up from 57.5 million in the prior-year quarter and 103 million in Q2 of this year.

ESPN+ subscribers topped 14.9 million, up from 8.5 million in Q3 2020. Total Hulu subscribers came in at 42.8 million, an increase from 35.5 million in the previous year.

Linear Networks revenues for the quarter increased 16% to $7 billion, and operating income decreased 33% to $2.2 billion. Domestic Channel revenues increased 13% to $5.6 billion and operating income decreased 37% to $1.8 billion.

International Channels revenues for Q2 increased 29% to $1.4 billion and operating income decreased 23% to $169 million.

Content Sales/Licensing and Other revenues for the quarter decreased 23% to $1.7 billion and operating income decreased 58% to $132 million.

“We ended the third quarter in a strong position, and are pleased with the company’s trajectory as we grow our businesses amidst the ongoing challenges of the pandemic,” Disney CEO Bob Chapek (pictured) said in a statement. “We continue to introduce exciting new experiences at our parks and resorts worldwide, along with new guest-centric services, and our direct-to-consumer business is performing very well, with a total of nearly 174 million subscriptions across Disney+, ESPN+ and Hulu at the end of the quarter, and a host of new content coming to the platforms.”

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