Disney and NBCUniversal are locked in a dispute about how much the former must pay the latter for absorbing the rest of Hulu. Disney late last year paid Comcast’s NBCU a previously agreed upon floor price of $8.6 billion and both sides had their own bankers calculating how much more, if any, was owed. Not surprisingly, their numbers diverged. Disney’s camp figured it was in the clear, NBCU’s that another $5 billion was due. As provided for in the initial contract, the dispute was handed to a third party, ...

Financial Performance - Net income for the quarter ended July 1, 2023, was $(153) million, compared to $2,842 million for the same quarter in the previous year[7]. - Comprehensive income attributable to Disney for the nine months ended June 29, 2024, was $4,350 million, up from $1,796 million for the same period last year[7]. - Comprehensive income for the quarter ended June 29, 2024, was $2,922 million, reflecting an increase from the previous quarter's comprehensive income of $2,676 million[13]. - The company reported a net income of $6,621 million for the nine months ended June 29, 2024, compared to $3,762 million for the same period in the prior year, representing a 76% increase[150]. - Net income attributable to Disney for the nine-month period increased $2.4 billion to $4.5 billion; EPS increased to $2.46 from $1.14 in the prior-year period[134]. Revenue and Growth - Total revenues for the nine months ended June 29, 2024, were $68,787 million, compared to $67,657 million in the prior year, reflecting a growth of 1.7%[27]. - Total revenues for the quarter ended June 29, 2024, were $23.155 billion, an increase from $22.330 billion for the quarter ended July 1, 2023, representing a growth of 3.7%[37]. - Total segment revenues for the quarter ended June 29, 2024, were $23,155 million, an increase from $22,330 million in the same quarter last year, representing a growth of 3.7%[27]. - Direct-to-Consumer revenues grew by 15% to $5,805 million for the quarter ended June 29, 2024, driven by subscription revenue growth[157]. - Total revenues for Content Sales/Licensing decreased to $2,112 million from $2,210 million, a 4% decline[3]. Expenses and Costs - Total produced and licensed content costs for the quarter ended June 29, 2024, were $6,197 million, compared to $6,088 million for the quarter ended July 1, 2023, reflecting a 1.8% increase[64]. - Cost of services for the quarter increased 2%, or $0.3 billion, to $13.2 billion due to higher sports programming and production costs[123]. - Total operating expenses for ESPN rose by 10% from $3,164 million to $3,482 million[203]. - Total programming and production costs decreased by 11% to $984 million for the quarter ended June 29, 2024, compared to $1,105 million for the prior year[165]. Assets and Liabilities - Total current assets decreased from $32,763 million as of September 30, 2023, to $25,493 million as of June 29, 2024[8]. - Total assets decreased from $205,579 million as of September 30, 2023, to $197,772 million as of June 29, 2024[8]. - Total liabilities decreased from $101,622 million as of September 30, 2023, to $92,469 million as of June 29, 2024[8]. - Cash and cash equivalents decreased from $14,182 million as of September 30, 2023, to $5,954 million as of June 29, 2024[8]. Shareholder Returns - The company repurchased $2,523 million of common stock during the financing activities for the nine months ended June 29, 2024[10]. - Common stock repurchases for the quarter totaled $1,522 million, indicating a significant return of capital to shareholders[13]. - The company paid dividends totaling $5 million during the quarter, consistent with its commitment to return value to shareholders[13]. - The Board of Directors declared a cash dividend of $0.30 per share ($0.5 billion) for the second half of fiscal 2023, and $0.45 per share ($0.8 billion) for the first half of fiscal 2024[73]. Segment Performance - The Entertainment segment reported an operating income of $1,201 million for the quarter, a substantial increase from $408 million in the prior year, marking a growth of 194.6%[27]. - Sports segment revenues increased to $4,558 million for the quarter, compared to $4,335 million in the same quarter last year, showing a growth of 5.2%[27]. - Experiences segment revenues reached $8,386 million, up from $8,198 million year-over-year, indicating a growth of 2.3%[27]. - Entertainment segment revenue for the quarter ended June 29, 2024, was $10,580 million, a 4% increase from $10,127 million in the prior year[150]. Legal and Regulatory Matters - The company faced a consolidated complaint in a securities class action lawsuit, alleging misstatements regarding costs and subscriber growth of the Disney+ platform[88]. - The company intends to vigorously defend against various legal actions, including antitrust lawsuits related to pricing and packaging provisions with virtual multichannel video distributors[90]. Impairments and Charges - The company reported a goodwill impairment of $2,038 million for the nine months ended June 29, 2024[10]. - The company recognized a non-cash goodwill impairment charge of $1.3 billion related to the Star India transaction, reflecting cumulative foreign currency translation losses of approximately $0.8 billion[40]. - Restructuring and impairment charges for the nine months ended June 29, 2024, totaled $2,052 million, a decrease from $2,871 million in the prior year[145]. Cash Flow and Financing - Cash provided by operations for the nine months ended June 29, 2024, was $8,453 million, compared to $5,064 million for the same period last year[10]. - The Company’s total borrowings as of June 29, 2024, amount to $47,584 million, with significant reductions in commercial paper and U.S. dollar denominated notes[48]. - The Company met its financial covenant for bank facilities by a significant margin as of June 29, 2024, with total committed capacity of $12,250 million[48]. Subscriber Metrics - Paid subscribers for Disney+ Core increased by 12% to 118.3 million compared to the prior year[175]. - Domestic Disney+ average monthly revenue per paid subscriber decreased from $8.00 to $7.74, a 3% decline compared to the previous quarter[1]. - Hulu SVOD Only average monthly revenue per paid subscriber rose from $11.84 to $12.73, an 8% increase attributed to higher advertising revenue[1].

FOR IMMEDIATE RELEASE Exhibit 99.1 August 7, 2024 THE WALT DISNEY COMPANY REPORTS THIRD QUARTER AND NINE MONTHS EARNINGS FOR FISCAL 2024 BURBANK, Calif. – The Walt Disney Company today reported earnings for its third quarter ended June 29, 2024. Financial Results for the Quarter: • Revenues for the quarter increased to $23.2 billion from $22.3 billion in the prior-year quarter. • Income (loss) before income taxes improved to income of $3.1 billion in the current quarter from a loss of $0.1 billion in the pr ...

Disney beat its own timeframe to reach streaming profits in an upbeat June quarter that also saw a big contribution from Inside Out 2. For well over a year, the company’s promised a streaming swing to the black in the 2024 fiscal fourth quarter but nailed it earlier, reporting $47 million in DTC operating income in Q3 (vs a $512 million loss the year before).   Disney+ and Hulu actually lost $19 million (on $5.8 billion in revenue) but that was more than offset by ESPN+. Disney+ and Hulu should turn profit ...

The "Partners" statue of Walt Disney and Mickey Mouse, at Cinderella Castle at the Magic Kingdom, at Walt Disney World, in Lake Buena Vista, Florida, photographed Saturday, June 3, 2023. Disney reports earnings before the bell, and Wall Street will be paying close attention to the ongoing turnaround of the company since Bob Iger returned as CEO in 2022 — particularly the results for the company's streaming and theme parks businesses. Here is what Wall Street expects Disney to report, according to LSEG: Earn ...

Key TakeawaysDisney is raising prices for Disney+, Hulu, and ESPN+ starting October 17, about 1 year after it last raised prices in the U.S.Disney will report fiscal third-quarter earnings Wednesday morning.Price hikes are one component of Disney's efforts to make its streaming services profitable after years of spending aggressively to catch Netflix. The Walt Disney Company’s (DIS) various streaming services will get more expensive starting in mid-October, the company said Tuesday. The price of ad-support ...

Ahead of earnings, the company made a move on pricing an important product.Consumers are never crazy about price increases for their favorite products. Such bumps can be encouraging for shareholders of the companies behind the increases, however.That was the case on Tuesday with Walt Disney (DIS 2.50%), following the entertainment giant's announcing hikes for most of its popular streaming video offerings -- one day before it's slated to publish its latest set of quarterly earnings. The company's share price ...

Disney reports earnings tomorrow and this could set the stock on a new course.Disney (DIS 3.72%) hasn't been a stock market favorite the last few years, but the business is improving by the day. Parks are growing and the streaming business is now profitable. In the fiscal Q3 2024 earnings report Travis Hoium is expecting more cash flow from parks and massive growth in streaming. Find out more in this video.*Stock prices used were end-of-day prices of Aug. 6, 2024. The video was published on Aug. 6, 2024. ...

Disney will jack up prices once again for its popular streaming services Disney+, Hulu and ESPN+ as it looks to push consumers to sign up for its bundles, the company said Tuesday.Starting in mid-October, most plans for Disney+, Hulu and ESPN+ will increase by $1 to $2 a month, while the most expensive plans for Hulu, which include live TV, will cost $6 more a month. The company said Disney+ basic and premium will go up $2 and be priced at $9.99 and $15.99, respectively.Hulu with ads will cost $9.99 monthly ...

ToplineSubscription prices for Disney+, Hulu and ESPN+ plans will be slightly increased later this year, Disney announced Tuesday, as the company appears to push customers toward bundled streaming plans.The move comes after a new bundle including Warner Bros. Discovery’s Max was launched. NurPhoto via Getty Images Key FactsThe price of Disney+’s ad-free and ad-supported plans will each be increased by $2 to $15.99 per month and $9.99 per month, respectively, starting on Oct. 17 for customers in the U.S., Di ...