Disney Earnings: Quarter One 2022 Shows Disney’s Resilience Despite A Challenging 2021
The Walt Disney Company
The company reported a revenue of $21.82 billion in the quarter. Disney announced during the call Disney+ has a total of 129 million subscribers as of January 1, 2022, which is an increase of 11.8 million in the last quarter. In total, across all streaming platforms, Disney has amassed 196.4 million subscribers. The Disney Parks, Experiences and Products segment revenue for the quarter is $7.2 billion, compared to $3.5 billion in the prior-year quarter, which Chapek mentioned was the second-best quarter of all time.
“We’ve had a very strong start to the fiscal year, with a significant rise in earnings per share, record revenue and operating income at our domestic parks and resorts, the launch of a new franchise with Encanto, and a significant increase in total subscriptions across our streaming portfolio to 196.4 million, including 11.8 million Disney+ subscribers added in the first quarter,” said Bob Chapek, Chief Executive Officer, The Walt Disney Company in a statement.
News about Disney Media and Entertainment Distribution (DMED)
Disney announced the highly-anticipated Obi-Wan Kenobi series will debut on Disney+ May 25. Chapek also announced that West Side Story will debut on March 2 on Disney+ in most markets.
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“The remainder of this fiscal year will feature compelling Disney+ originals from across our brands and franchises, beginning with Pixar’s Turning Red and the Marvel series, Moon Knight,” said Chapek. The new entertainment options will debut on March 11 and March 30, 2022, respectively.
During the call, Chapek also mentioned the back of fiscal 2022 will see the debut of Ms. Marvel, shorts based on Pixar’s Big Hero Six and Cars, a live-action reimagining of Pinocchio that will star Tom Hanks, and Hocus Pocus 2.
News about Disney Parks, Experiences and Products (DPEP)
Genie+ and Individual Lightning Lanes continue to be popular with guests visiting Walt Disney World. Chapek mentioned between 33 and 50 percent of guests purchase the paid services when visiting the theme parks in the quarter.
Upcoming openings that Disney Parks fans should be excited about include the launch of an all-new immersive Star Wars experience with Star Wars: Galactic Starcuiser, which opens March 1, 2022, at Walt Disney World. Also at the Orlando resort, guests will be able to ride the all-new Guardians of the Galaxy: Cosmic Rewind attraction later this summer. At Disneyland Paris, Avengers Campus will open this summer as part of the resort’s 30th anniversary.