Disney says its Entertainment Direct-to-Consumer business was profitable in the second quarter ended March 30, 2024 as Disney+ increased both subscribers and ARPU.
“Our results were driven in large part by our Experiences segment as well as our streaming business. Importantly, entertainment streaming was profitable for the quarter, and we remain on track to achieve profitability in our combined streaming businesses in Q4,” said Disney CEO Bob Iger.
Disney+ Core subscribers increased by more than 6 million and ARPU increased by 44 cents.
International Disney+, which excludes Disney+ Hotstar in India, increased from $5.91 to $6.66 due to increases in retail pricing and a lower mix of subscribers to promotional offerings.
Hotstar’s average monthly revenue per paid subscriber decreased from $1.28 to $0.70 due to lower advertising revenue.
The House of Mouse expects revenues to tail off in the third quarter, but is looking to a profitable fourth quarter for its streaming services.
