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Disney Streaming and Parks Shine in Fourth Quarter, but some TV Networks, Movies Weaker

Disney+ and Hulu subscriptions grew by 12.4 million to 195.7 million, while theme parks operating income rose 13%, offsetting declines in networks and film revenues.

  • Last month, The Walt Disney Co. reported mixed fourth-quarter results with $22.46 billion revenue, below the $22.86 billion estimate, and earned $1.31 billion, or 73 cents per share.
  • Direct-to-Consumer operating income rose to $132 million, and the Disney Experiences division's operating income climbed 13% to $1.88 billion, Disney said.
  • Subscriber totals surged to 195.7 million at quarter end, with Disney+ paid subscribers reaching 132 million, up from 128 million last quarter.
  • Investors reacted as Disney said it will stop reporting paid-subscriber metrics for Disney+ and Hulu starting fiscal 2026's first quarter, and the stock fell 5% before the market open on Thursday.
  • Distribution disputes and programming moves left Disney content dark on YouTube TV last month and drove Disney+ and Hulu cancellations after ABC briefly pulled Jimmy Kimmel Live!.
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Disney streaming and parks shine in fourth quarter, but some TV networks, movies weaker

Disney’s fiscal fourth-quarter performance was mixed, as a weak performance from its television networks and some films was buffered by strength in its streaming business and theme parks.

·United States
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Disney's performance in the fourth quarter was mixed, as a weaker performance of its television networks and some films were offset by the strength of its streaming business and theme parks.

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The Hamilton Spectator broke the news in Hamilton, Canada on Thursday, November 13, 2025.
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