Dory helps Disney find profit
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