Disney’s parks, for Q2 2021, have reported $406 million in losses.
The media and entertainment conglomerate Walt Disney Co. reported 103.6 million Disney+ subscribers for Q2 2021 against the forecasted 110.3 million (Bloomberg Consensus). The company saw a dip in sales reaching $15.6 billion against projections of $15.9 billion.
Higher affiliate fees and lower programming costs offset the dip in advertising with Disney’s traditional TV seeing a 15% increase in profits from the same period last year to $2.85 billion. The company’s average revenue per subscriber dropped by 29% to $3.99 a month.
This downward drag of the average is due to the company having rolled out a more economical service in India. Following the release of the Q2 2021 report, Walt Disney’s shares suffered a 5.3% fall in extended trading. The quarter saw the company’s movie studio reporting a profit of $312 million.
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