New Delhi: In a mixed bag of results, The Walt Disney Company reported a 6% increase in revenues for the fourth quarter of 2024, ending September. This uptick brought the company’s annual revenue to $91.3 billion, a 3% increase over the previous year.
However, the entertainment giant’s Indian subsidiary, Star India, experienced a significant setback. The company’s revenue plummeted by 37% to $58 million in Q4 2024 compared to the same period in 2023. This decline was compounded by a $210 million impairment charge.
Disney+ Hotstar, the popular streaming service in India, also faced challenges. The average monthly revenue per paid subscriber dropped by 26% in Q4 2024 compared to the previous quarter. This decline was attributed to lower advertising revenue.
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Despite these challenges, Disney’s direct-to-consumer (DTC) business saw a 14% increase in ad revenue for the quarter.
On the same day as the earnings announcement, Disney India and Reliance completed their merger to form a joint venture. This strategic move is expected to strengthen Disney’s position in the Indian market.
“This was a pivotal and successful year for The Walt Disney Company,” said CEO Bob Iger. “We have emerged from a period of considerable challenges and disruption well-positioned for growth and optimistic about our future.”
