ESPN revenue grew by about 1% to $3.45 billion, with higher operating results attributed to decreases in programming and production costs thanks to lower college football costs, and a growth in ESPN+ subscription revenue and “modest” increases in advertising revenue.
Disney still expects its streaming division to reach profitability by the fourth quarter of fiscal year ’24, though its letter to investors noted that progress “may not look linear from quarter to quarter.”
This quarter, entertainment revenues for Disney made up $9.5 billion, with DTC accounting for more than $5 billion.
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