Disney’s EMEA Business Posts $731 Million Profit for 2023, Driven by Disney+ and Strong Film Performance

Exciting news from The Walt Disney Company! The entertainment powerhouse has reported a stellar year for its Europe, Middle East, and Africa (EMEA) division, amassing a remarkable profit of $731 million (approximately £570.98 million) and an impressive turnover of $4.86 billion (around £3.8 billion) for the fiscal period from October 2, 2022, to September 30, 2023.

The standout contributors to this financial success include Disney+ and the EMEA team’s strong film lineup over the year, featuring crowd-pleasing titles like Pixar’s “Elemental” and the live-action remake of “The Little Mermaid.” Of course, the continued allure of series such as “The Bear” and “The Kardashians” played a significant role as well. However, it’s worth noting that there was a downside in licensed content distribution which somewhat offset these gains.

In a detailed report to the U.K. business registrar Companies House, Disney disclosed that turnover from diverse revenue streams—ranging from television licensing and advertising to sales of character merchandise and vacation packages—reached an all-time high. Specifically, television, streaming, film distribution, and theatrical productions brought in $4.2 billion of the total turnover, with the remainder stemming from Disney’s experiential sectors, such as vacation packages and character merchandise.

A closer look at the numbers reveals that the U.K. and Ireland contributed $1.4 billion to the turnover, with the rest of Europe almost doubling that amount. Additionally, the value of EMEA’s intellectual property rights related to Marvel and Lucasfilm skyrocketed to $2.16 billion.

The fiscal triumphs come against the backdrop of Disney’s concerted efforts to push its streaming services towards profitability. As of the second quarter of 2024, they have narrowed direct-to-consumer losses by an impressive 97%. Despite a softer third quarter forecast, due to seasonal factors, Disney’s CEO Bob Iger remains optimistic about streaming’s potential to drive future growth.

What do you think of Disney’s latest financial milestones and the incredible success of its streaming services and film releases? We’d love to hear your thoughts, so share in the comments below and feel free to spread the news across your favorite social media platforms!

(Note: Financial figures and source details are credited to the company’s report filed with the U.K. business registrar Companies House and shared by Lucas Manfredi on TheWrap.)