Disney’s revenues climbed 26% in its last quarter of the fiscal year, though analysts expected more growth in its streaming networks.
The company brought in $18.5 billion in the three months ending Oct. 3, buoyed by a 99% increase in its Parks, Experiences and Products segment to $5.5 billion.
Disney’s media and entertainment division drew $13.1 billion, representing 9% year-over-year growth.
- Disney+ subscribers grew 60% year-over-year to reach 118.1 million.
- ESPN+ subscribers were up 66% year-over-year to 17.1 million.
- Hulu subscribers climbed 20% year-over-year to 43.8 million.
Still, Disney’s streaming networks lost $600 million in total, an increase from $400 million in the same period last year, largely due to high production costs.
Disney has looked into combining ESPN+, Hulu, and Disney+ into a single offering, but is partly limited by ESPN’s rights deals.
It also explored spinning off ESPN, in part so the sports media company could make a more fulsome embrace of sports betting without conflicting with the rest of the brand’s family-friendly stance.
ESPN was reportedly seeking to license its name to a sports book in a deal worth at least $3 billion, as of September.
Disney’s stock dipped as much as 5% in after hours trading, before partially recovering.