In the entertainment industry, there are many companies which try to earn huge amount of revenues, but most of them fail to do so because there are already well-established companies which are dominating this industry, Disney is one of them. Walt Disney which is an entertainment giant company reported its fiscal first-quarter earnings reports which show that it has beaten every analysts and investors expectation. Disney managed to earn $15.30 billion of revenue as compared to analysts expectation of $15.14 billion. On the other hand, the company gave its investors a steady EPS of 1.84 per share versus analysts prediction of $1.55 per share.
Disney is that company which rules on entertainment industry and company said that their new sports streaming platform called ESPN+ had gained more than 2 million paid subscribers in just five months. Disney is directly building those entertainment platforms which will allow them to reach to customers directly and that’s why it’s thinking of making more platforms like ESPN+ in future. Currently, Disney is the talk of acquiring Twenty-First Century Fox, and if the deal goes successfully, then Disney will have more dominance on entertainment industry also it will become a primary stakeholder in movie streaming platform Hulu.
A few days ago Disney said that they are trying to get into movie streaming business with their new venture called Disney+ which will allow them to compete with their biggest competitor Netflix. Currently, movie streaming industry is getting lots of popularity. Disney won’t like to stay behind of its competitors when they have the necessary resources and power. However, the company’s plan of building a streaming services platform have higher risk also because it includes a massive amount of money to make such things. It will be interesting to see how Disney will enter into movie streaming business which is currently dominated by Netflix with its 56 million paid subscribers.
Jeffrey is acting editor in chief of AmazingNews24 with over seven years of experience in the field of online news under his belt. Jeffrey has worked with multiple media houses and is currently leading a team of journalists, sub-editors and writers through his entrepreneurial endeavours.