Chief Bob Iger says ‘slowdown’ in experiences segment offset by box office success of films such as ‘Inside Out 2′
Inside Out 2, with characters Joy and Anxiety, was a big success as Disney's movie business returned to form but theme parks have had a poor year. Photograph: Disneyboosted Walt Disney’s third-quarter earnings and revived confidence in the Pixar animation studio, but the company warned that slowing consumer demand at its US theme parks could continue into next year.
But Disney warned on Wednesday that revenues and operating income from its parks unit were hit by a “moderation of consumer demand ... that exceeded our previous expectations” towards the end of the June quarter. Mr Iger described it as “a bit of a slowdown that is being more than offset by the entertainment business”.Mr Iger praised the progress in the entertainment businesses, which had been suffering from a dearth of box office hits and losses at its streaming services.
Together Disney’s three streaming services – Disney+, ESPN+ and Hulu – reported an operating profit of $47 million in the quarter, compared with a $512 million operating loss a year ago.
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