The Walt Disney Company concluded its 2024 fiscal year with strong results, driven by robust performance in its film and streaming segments. The company reported total revenue of $22.57 billion, a 6% year-over-year increase. In Q4 alone, Disney+ gained 4.4 million new subscribers, pushing its core subscriber base past 120 million. On the film front, blockbusters such as Inside Out 2 and Deadpool & Wolverine contributed $316 million in content sales and licensing revenue, significantly bolstering the company’s overall financial performance.
Streaming Growth Continues
with Double-Digit Gains in the U.S. and International Markets
Disney’s streaming segment performed strongly in 2024, with revenue reaching $5.8 billion and operating income at $321 million, a marked improvement compared to last year’s losses. Disney+ subscribers in the U.S. and Canada grew by 2%, reaching 56 million, while international subscribers (excluding Hotstar) rose by 5% to 66.7 million. Disney+ Hotstar subscribers also increased to 35.9 million. Hulu surpassed 52 million subscribers, including 4.6 million subscribers to its live TV and streaming bundle.
Blockbusters Boost Film and Entertainment Division
Inside Out 2 and Deadpool & Wolverine achievement
Disney’s film and entertainment segment saw a 14% revenue increase, totaling $10.8 billion. The stellar box office performances of Inside Out 2 and Deadpool & Wolverine significantly contributed to the division’s operating income of $1.07 billion. Disney CEO Bob Iger highlighted this quarter as one of the best in the division’s history, showcasing the company’s success in innovation, efficiency, and value creation.
Steady Performance in Sports and Experiences
Led by U.S. Theme Parks
體育業務（主要包括 ESPN 及 ESPN+ ）營收達到 $39 億美元，雖然營業收入較去年下降 5%，達 $9.29 億美元，但穩定表現依舊不俗。體驗業務方面，受美國主題公園帶動營收增長 1% 至 $82 億美元，然而國際業務表現不佳，令體驗部門的營業收入下滑 6% 至 $17 億美元。
Future Outlook: Streaming Growth and Continued Expansion in Experiences
Looking ahead, Disney forecasts high single-digit earnings per share growth in 2025 and plans to boost streaming operating income by $875 million. The company expects steady growth in its sports and experiences divisions in the coming years. While the experiences segment may face a $130 million impact from hurricanes in 2026, its long-term outlook remains stable. Iger remarked, “This year marked a pivotal transformation for Disney. Thanks to our strategic progress, we have successfully navigated challenges and are poised for future growth. Our film division achieved record-breaking results, streaming profitability has significantly improved, and we set a historic record with 60 Emmy Awards. Additionally, new initiatives in our sports and experiences divisions have delivered exciting results.”
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