Disney Turns Streaming Profit And It Gets Even Better For Mickey

However, things aren’t always as they seem, and operating income still implies some loss in different segments. Disney+ and Hulu actually lost $19 million, which isn’t all that surprising considering that Disney, just like the vast majority of streaming services, struggled to maintain profitability. However, even those losses are significantly lower than the previously lost $505 million (in 2023), which significantly improved Disney’s financial position. However, what pushed Disney’s streaming to the positive was ESPN+ earnings, which offset Disney+ and Hulu’s losses.

The aforementioned streaming services aren’t falling all that far behind, and Disney expects them to turn profitable by September, with their combined earning growing further. As previously mentioned, the reason for the celebration at Disney is to achieve the company’s financial goal well ahead of time. Disney streaming is projected to turn profitable in the next quarter, which means that the business started earning a whole quarter ahead of its previous guidance—but not without some magic.

Disney+ added approximately 1 million new subscribers in the US and Canada, which brought the total subscriber count to nearly 153 million. Hulu’s subscriber base also grew by nearly a whole million to 51 million, and if we combined the two, the total subscriber count would make Disney streaming Netflix’s biggest competition, with over 204 million subscribers. It’s worth noting that this isn’t a big jump; in fact, the subscriber growth is relatively flat, with Disney seeking new ways to make more money out of its existing subscriber base.

When it comes to its highest earners, the arrival of Marvel Jesus to the MCU spelled a “ka-ching” moment for Disney. As we previously mentioned, the recently released Deadpool & Wolverine movie was well on its way to defeating an R-rated Jesus movie, and that moment came to pass—the movie made just over $1 billion thus far, making it a contender for the highest grossing movie of 2024. That title currently belongs to Disney’s top earner, Inside Out 2, and its upcoming release had an effect on Disney’s streaming profit boost.

Disney reported that the original Inside Out generated more than a million new sign-ups to Disney streaming since the first Inside Out 2 trailer was released, and the upcoming release of the latter, along with the arrival of Deadpool & Wolverine, is likely to boost the profits further. This is truly great news for the House of Mouse, but as Disney streaming turns profitable, theme parks aren’t doing as great. Domestic parks and experiences saw a 6% fall in operating income, while international parks and experiences’ operating income went up by 2%.