Disney's Theme Parks See Significant Growth, While TV Unit Struggles
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Disney reported narrower streaming losses in its second fiscal quarter as price increases helped offset the loss of 4 million Disney+ subscribers. Disney's parks, experiences, and products divisions saw a 17% increase in revenue, while its linear TV unit struggled. The entertainment and media company's direct-to-consumer operating income losses were narrower than expected, and it saw higher subscription revenue at Disney+. The company plans to add Hulu content to its Disney+ streaming app and raise the price of its ad-free service. Disney faces ongoing challenges, including a lawsuit against Florida Gov. Ron DeSantis and production shutdowns due to the writers' strike. Shares fell over 5% in Thursday's extended trading.
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