It misses Wall Street expectations on revenue in its fiscal Q4, but leadership says the Parks division had its best year ever.
“The rapid growth of Disney+ in just three years since launch is a direct result of our strategic decision to invest heavily in creating incredible content and rolling out the service internationally, and we expect our DTC operating losses to narrow going forward and that Disney+ will still achieve profitability in fiscal 2024, assuming we do not see a meaningful shift in the economic climate,” Chapek said.
Notably, average revenue per user fell at both Disney+ and Hulu, with the company citing more subscribers to the Disney Bundle as one of the reasons.
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