Dory helps Dis­ney find profit

7 Days in Dubai - - BUSINESS -

Pop­u­lar films such as Find­ing Dory, The Jun­gle Book and the Marvel saga Cap­tain Amer­ica: Civil War helped boost Dis­ney’s third-quar­ter profit above ex­pec­ta­tions. But The Walt Dis­ney Co’s ca­ble and broad­cast chan­nel rev­enue growth was weaker. Dis­ney said it will also spend $1 bil­lion for a 33 per cent stake in the Ma­jor League Base­ball video stream­ing ser­vice BAMTech. Me­dia com­pa­nies like Dis­ney are try­ing to adapt to the in­creas­ing pop­u­lar­ity of on-de­mand stream­ing video and ‘skinny bun­dles’ — cheaper, slimmed­down chan­nel pack­ages, some of which omit ex­pen­sive chan­nels like ESPN. CEO Bob Iger said that tra­di­tional ca­ble pack­ages known as “mul­ti­chan­nel bun­dles" are most prof­itable for Dis­ney. But he ac­knowl­edged that new dig­i­tal-video op­tions of­fer con­sumers choice and va­ri­ety. Ca­ble net­work rev­enue, in­clud­ing ESPN, edged up 1 per cent to $4.2 bil­lion. Broad­cast rev­enue rose 5 per cent to $1.71 bil­lion. Rev­enue from film, by con­trast, rose 40 per cent to $2.85 bil­lion.

HIT: Find­ing Dory has been a suc­cess

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