Skip to content Group in full transformation after focusing its strategy on the Direct-to-Consumer, The Walt Disney Company presented the 10 November its third quarter results 2021, which is the fourth of its staggered fiscal year, therefore also publishing the figures for its full financial year. In this year still very marked by the pandemic, especially in amusement parks, revenues are up slightly, return profits. The group, however, disappointed analysts, only announcing 2 million additional subscribers in the quarter to 118 million to its Disney+ platform, which indicates a certain slowdown, although over a year subscriptions more than double, streaming revenue growth offsetting other declines.
Among the reasons mentioned is the same as for Netflix in the previous quarter : a period less provided in terms of powerful new series, in particular due to delivery delays linked to the pandemic, demonstrating how dependent these platforms are on large program launches to recruit. During the audio webcast commenting on the results, Group CEO Bob Chapek expressed confidence in the long term, many things being in production, while the platform will again expand significantly geographically. Two days later, the 12 November, on the occasion of two years of the platform, was organized the promotional event on Disney + Day to entice on its original content to come, without giving a very precise agenda on the outings, that have been impacted by pandemic-related delays.
Disney+ is counting above all on its international development to give a new boost to subscriptions. Currently present in 60 country and issuing in 20 languages, she plans to add more 50 the year to come, expanding further in Asia starting with South Korea, Taiwan and Hong Kong, then in Central and Eastern Europe, in the Middle East and South Africa. The objective is to double and achieve the 160 country by the end 2023. The group maintains its forecast for Disney+ to reach 230 at 260 million subscribers and the balance for 2024. But do not expect constant growth from quarter to quarter, said Bob Chapek.
The group did not detail its spending on content. According to Bob Chapek, investments could be higher than planned, Disney+ notably boosting local and regional orders, in connection with its international development.
Media timeline : return of a window for the room but remaining flexible
After having recently released many of his theatrical films simultaneously, and even for some only, south Disney+, the group has confirmed its intention to re-allocate a window in the dining room a priori 45 days (or 30 for some people) to movies, as announced in September as theaters reopened more widely. As for WarnerMedia, its strategy had been criticized, in addition, the group had been sued by the actress of Black Widow, Scarlett Johansson, considering themselves aggrieved by the simultaneous release of the film on Disney+, because having in its contract a right to receipts on the entries room.
On the media timeline, Bob Chapek clarified that the group nevertheless intended to remain flexible, not knowing in particular the reaction of the market with regard to the return to theaters of films intended for a family audience, and the idea is to continue to practice shorter windows than before so that Disney+ can benefit from the films more quickly. " Finally, we will do what is best for the shareholders”, he added.
Do you know Disney+ Day?, the group put a dozen new contents online, including (except in France) Shang-Chi and The Legend of The Ten Rings (photo illustrating the article), film having found, with success, a priority window at the cinema. Released on 3 last September in the United States, it will therefore have benefited from a little over two months of theater exclusivity before its launch on Disney+ (he leaves the 30 November on DVD) .
Original content : no rest for superheroes
Do you know Disney+ Day?, were also published several teasers on the series in production, the group making some announcements. A large number of them are declined from the different universes and brands of the Disney group, and primarily Marvel superheroes. After Wandavision, The Falcon & The Winter Solder, et Loki, who broke the ceiling of series budgets, a trailer dedicated to Marvel Studios listed the many projects adapted from its universe in production, although many will not arrive immediately. Hawkeye is the next Marvel series announced for the 24 November, while first images have been unveiled for Moon Knight et She-Hulk, planned in 2022, as well as Secret Invasion with Samuel L.. Jackson, and that a spin-off of Wandavision from the character of the witch, Agatha House of Darkness, also for 2022.
Lucas Films Side, Star Wars, The Book of Boba Fett must be launched on 29 December while Disney+ promoted the fictional series Willow adapted from the 1988 film scheduled for 2022, when is also expected the series Obi-Wan Kenobi, of which Disney has unveiled just a few images.
The platform also announced in a tweet the adaptation into a fantastic live action series of children's books The Spiderwick Chronicles, which have already given rise to a film in 2008, while in another register the character of Cinderella gave rise to a modernized musical which will be released on Disney+ in February, Sneakerella where Cinderella loses, not his glass shoe, corn on the sneaker..
New Marvel Animation Series, Disney and Pixar
Animation remains a strong axis, Disney+ also announced three new animated series from Marvel Studios, who recently got into animation: Spiderman The Freshman Year , XMen97 (provided for 2023), et Marvel Zombies.
Pixar, including the latest films Soul et Luca were released directly on Disney+ without going through the theater box, has also diversified into the animated series, currently producing Cars on the road a derivative of cinema films Cars, planned in 2022, as well as a baseball series Win or Loose pour 2023.
Disney+ also announces a summer release 2022 from the Serie Baymax, spin-off you film they 2014 Big Hero 6/The new heroes (also based on a Marvel Comics) produced by Walt Disney Animation Studio, which also produces the short series for the platform Zootopia+ (based on the film by 2016) planned in 2022, as well as for the following year, Princess Tiana, spin-off series from the film 2009, The Princess and the Frog.
A franchise spin-off film is also planned. Ice Age du catalogue de 20th Century Fox (that Disney to racheté in 2019) , The Ice Age Adventures of Buck Wild, which will be released live-to-Disney+ in January 2022.
Wide-open and spectacular documentary series
Finally, documentary side, Disney+ has shown the first images from several National Geographic series including Welcome To Earth, in six parts led by Will Smith who sets out to discover the land, scheduled for December, as well as Limitless With Chris Hemsworth where he explores his limits. Disney+ and National Geographic are therefore renewing the experience of calling on actors to embody documentary series, after The World According to Jeff Goldblum where the latter seeks to understand the why of things with humor. Another series scheduled for 2022, of which Disney+ showed the first spectacular images, the nature and animal series in six episodes, America The Beautiful (The Wonders of America), which films in particular large spaces seen from the sky. Peter Jackson's Beatles series is also due to launch very soon.
After Karl Lagerfeld, Balenciaga, goal of 60 original series in Europe from here 2024
The day of Disney+Day, the platform also published a press release regarding its projects in Europe, announcing on this occasion the order of its first original series in Spain on the designer Balenciaga. This is Disney+'s second fashion series., having also announced during Series Mania last August a series project at Gaumont on Karl Lagerfeld. Ce 12 November, Disney+ also unveiled the trailer for one of its first French orders, the comedy of 8×26′ , Week-end Family, with Eric Judor.
Regarding his plans in Europe, Disney+ had initially announced a dozen first projects last February, including four in France and the others in Italy, Germany and the Netherlands, the platform had also entrusted the French company Xilam Animation with the production of the animated series Chip’n’ Dale: Park Life (The Adventures of Tic & Tac in the park) launched last July. Since, the president of Jan Koeppen, president of the Walt Disney Company EMEA announced at Séries-Mania that Disney+ was increasing its objectives to 60 series produced in EMEA (Skip to content, Middle East Africa) from here 2024 instead of 50 originally planned. Other series have been started bringing the total to 21, dont 16 fiction and 5 documentaries, from UK, of France, from Germany, of Italy, and the Netherlands, including an epic English adventure series, Nautilus, inspired by 20 000 leagues under the seas.
otherwise, in information unrelated to Disney+ Day, Fremantle has announced that it has sold the Italian anticipation series by Niccolò Ammaniti, Anna (which has just been broadcast on Arte, co-producer with Sky in Italy) to Disney+ for several European territories.
- Link to the group's financial press release on his site : The Walt Disney Company Reports, fourth quarter and full year earnings for fiscal 2021
- The press release Disney+ Debuts First Looks, Exclusive Footage, And New Trailers In Celebration Of Disney+ Day with the list of announcements by studio, and the one relating to European orders, Disney+ in Europe unveils more new content for subscribers
Further reading :
- The article of Deadline on the chronological aspect of the media: Disney Boss Bob Chapek “Sticking With Our Plan Of Flexibility” When It Comes To Theatrical Day & Date
- The articles of Hollywood Reporter : Disney+ Subscriber Growth Slows, Company Misses Wall Street Expectations, et Disney CEO: We’re Ready for “Our Own” Metaverse
- The one of Variety, not very convinced by Disney+Day : Disney Plus Day Tries to Deliver the Goods Without Having Many Goods
A CA of 67 billions of dollars, including $28 billion for linear channels
During the last trimester, The Walt Disney Company was able to breathe a little on the pandemic side, its amusement parks having been able to reopen more widely, and activity Parks, Experiences and Products having progressed from 99% compared to the equivalent quarter the previous year, while linear chains were down 4%, and streaming up 38%.
Over the entire fiscal year, which ended on 2 october 2021, the turnover of the American giant increases by 3%, at 67,4 billions of dollars, operating income is down by 4% at 7,8 Md$, while the net result becomes positive again at $2bn after being strongly negative last year. Despite the good results of the last quarter, branch Parks, Experiences and Products remains down over the year 3%, at 16,6 Md$ (against $26 billion in 2019 before pandemic) but with operating income up by 4% to 471M$. The branch number Disney Media and Entertainment Distribution, which represents, therefore, three-quarters of the group's activity, progress for its part 5% at 50,9 Md$ (+9% in the last quarter), with operating income down by 5% à 7,3Md$.
Inside this branch, the activity Linear Networks, or traditional TV channels, always first in terms of revenue, sees its turnover increase by 2 % over the year to 28 Md$, with operating income down by 11%, at $8.4 billion. Advertising revenue is up thanks to the return of sporting events, but this increase is counterbalanced by an increase in the cost of sports rights, indicates Disney. Remember that the group owns the ABC network, ESPN sports channel, FX, Disney children's channels and National Geographic documentary channels. In 2020, 30 cable channels had been shut down internationally, to make way for streaming and Disney+, and last May the group indicated that it was pursuing a market-by-market strategy according to the agreements in progress, but plan to continue on this path, wanting to give priority to direct-to-consumer. No new information on the subject in this last document, which does not really address it except to justify a drop in revenue from the license fee for international channels.
Increase in 55% for streaming over the year at $16bn (and $1.7 billion in losses)
The turnover of Direct-to-Consumer (streaming platforms), notably carried by Disney+, leaps for its part from 55 % à 16,3Md$, while the activity reduces its losses of 42 %, always however consistent, at $1.679 billion. Improvements from US platforms Hulu and to a lesser extent ESPN+ are partially offset by higher losses for Disney+, due to marketing investments, in production and technology, indicates Disney.
Drop of 33% for the position selling content and licenses
The activityContent Sales/Licensing and Other is down by 33% à 7,3Md$, with an operating result that loses 51% at $567M, results that Disney attributes mainly to the cinema distribution business, affected by the cancellation of major film releases (some also being released directly on Disney+ Editor's note), even if this was partially offset by the resulting savings on marketing and distribution costs and on the amortization of these films, indicates the group.
Update 30/11/21. According to the international press, The Walt Disney Company's annual report that was sent to the Securities and Exchange Commission foresees an investment in content, whether in production or acquisitions, sports rights included, of 33 $bn all-inclusive in 2022, up from 8 $ billion compared to this year. The group plans in particular to release 50 feature films in theaters or on its platforms. The article of Hollywood Reporter
Update January/2021 : Hawkeye ends up. Series Hawkeye (whose episodes were introduced online gradually on a weekly basis) saw, according to Nielsen figures quoted by the Hollywood Reporter, its audience increase in the United States on Disney+ at 938 million minutes viewed (third on the Nielsen weekly top) the week of 20 december vs. 853 million minutes for the first two episodes 1 month earlier.
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