Disney + will be the home of family fare.
Disney reported quarterly and full-year results on Thursday for perhaps the last time before it bought most of the 21st Century Fox, and the results did not disappoint Wall Street as strong results for Incredibles 2 and Ant Man and Wasp helped the conglomerate film studio to increase sales by 50 percent.
Analysts expect Disney to earn $ 1[ads1].34 per share of $ 13.73 billion in revenue in the fourth quarter, but the conglomerate posted $ 1.48 per share on sales of $ 14.31 billion. For the entire fiscal year, Disney was expected to earn $ 6.94 per share of $ 58.87 billion, although it reported $ 7.08 per share of $ 59.43 billion in revenue.
Disney shares fell 1 percent on Thursday to $ 116.09, but after the closing time when the Company released its earnings, the shares increased 2 percent.
In connection with revenues, Disney CEO Bob Iger announced that the company's forthcoming streaming service to compete with Netflix is called Disney +, similar to the ESPN streaming product called ESPN +. Earlier reports had incorrectly stated that the upcoming service would be called Disney Play.
Disys acquisition of Fox's most entertainment activities, the company controlled by Rupert Murdoch and his sons, is ready to close early next year if regulators approve the transaction and Iger said Thursday he is sure it will happen before it became originally expected.
The Fox transaction includes that the company's 30 percent of Hulu gives Disney 60 percent of the asset, and Iger made it clear that Hulu and Disney + can
Disney will have "significant say in how Hulu is driving" given that Comcast and AT & T will remain minority shareholders, and he suggested either, or both may choose to dispose of their interest in Hulu.
Iger said Hulu is "valued" because of his young demographic ability and ability to deliver targeted ads and he said he would invest more in original programming and perhaps increase monthly subscription ption fees, currently starting at $ 5 , 99 a month.
Hulu, said Iger, will be for general entertainment while Disney + will be the home of family fare. In this way, he announced a prequel series to Rogue One: A Star Wars Story for Disney + is in the works.
in studio education, Disney's revenues increased from $ 1.43 billion in the quarter last year to $ 2.15 billion this time with Black Panther, Avengers: Infinity War and Star Wars: The Last Jedi each makes a hefty contribution to the top line.
Disney's largest segment, media network, increased quarterly revenue by 9 percent to $ 5.96 billion, with most of the growth attributable to broadcasting of television instead of cable.
Parks and resorts gave 9 percent revenue growth to $ 5.07 billion and consumer products and interactive media so revenues decline 8 percent to $ 1.12 billion.