Disney Q1 Results Positive, Adds New ESPN App

08 February, 2018, 13:18 | Author: Kristine Mills
  • The streaming services are coming

The Disney-Fox deal comes as tech giants like Netflix and Amazon engage traditional medias in an increasingly competitive spending race on content. CNBC reported Monday that fear of being outspent was one of the main reasons Rupert Murdoch made a decision to sell those Fox assets. Analysts had predicted revenue of $4.87bn. The House of Mouse is set to assimilate $52 billion of Twenty-First Century Fox's assets. The decrease in operating income was due to lower advertising revenue, higher production cost write-downs and a decline in program sales income, partially offset by affiliate revenue growth due to rate increases.

Walt Disney Co DIS.N on Tuesday reported a quarterly profit that topped Wall Street forecasts as theme park crowds packed a new "Avatar" land, making up for a decline at the ABC broadcasting network.

Steven Cahall, an analyst at RBC Capital Markets, said: "We see good momentum in Disney's results that support a long-term rerating story around streaming/direct to consumer". The company has said it will pull its content from Netflix when that happens.

Net income soared 78% to $4.4 billion - largely as a result of the one-time benefit from the new federal tax laws. To that end, Iger was asked why Game of Thrones creators David Benioff and D.B. Weiss had not been attached to a similar multi-season series.

More news: Terrorist Who Murdered Rabbi Raziel Shevach, Hy"d, Killed"

Bob Iger, chairman and CEO of The Walt Disney Co., center, and Disney mascot Mickey Mouse ring the opening bell with Tom Farley, president of the NYSE Group, right, on the floor of the New York Stock Exchange on November 27, 2017.

ESPN's new streaming service is coming to your phone this spring.

Disney's media network group's operating income fell 12% to $1.19 billion on flat revenue at $6.24 billion.

Cable network operating income was down 1% to $858 million as revenue rose 1% to $4.49 billion. "When you go to market with "Star Wars" movies, Disney movies, Pixar movies, Marvel-branded and branded television shows under those umbrellas. that will give us the ability to probably spend less than if we had gone to market with a direct-to-consumer service without these brands". But many sports fans might be left wondering what exactly they are paying an extra five dollars a month for. Disney and Netflix announced past year that its landmark streaming deal will expire by the end of 2019, but not all films will leave the platform immediately.

Recommended:

  • Devastating scenes as Taiwan hotel collapses after 6.4 magnitude quake

    Devastating scenes as Taiwan hotel collapses after 6.4 magnitude quake

    Cellphone video from Hualien City shows a large building leaning at a unsafe angle as sirens are heard in the background. A damaged vehicle stands in rubble outside the Marshal Hotel in Hualien, eastern Taiwan early February 7, 2018.
    Supersampling, UI Updates, and More

    Supersampling, UI Updates, and More

    There's a few other little things that will be coming in update 5.50, which you can check out at the PlayStation Blog right here. However, if you aren't already signed up for the PS4 5 .50 beta test, you won't be able to see these beta features until release.
    McDaniels Named Colts Head Coach

    McDaniels Named Colts Head Coach

    He became a defensive assistant two years later before being named quarterbacks coach in 2004 and offensive coordinator in 2005. Schefter didn't specify DeGuglielmois' role either, but I'm guessing he will be the new offensive line coach in Indianapolis .
  • At US outpost in Syria, US general backs Kurdish fighters

    At US outpost in Syria, US general backs Kurdish fighters

    The Organisation for the Prohibition of Chemical Weapons said a fact-finding mission "is investigating all credible allegations". Rebel-held areas in Eastern Ghouta , meanwhile, continue to be a target of airstrikes, a Syrian monitoring group said .

    The 'Freight Train' to Higher Yields Won't Be Derailed So Easily

    Short-term Treasury yields will nearly certainly increase if the Fed sticks to its forecast for three hikes. Yet long-term interest rates remain low, thanks to monetary easing in the US and elsewhere.
    Former Everton boss Ronald Koeman appointed as new manager of The Netherlands

    Former Everton boss Ronald Koeman appointed as new manager of The Netherlands

    As a player, Koeman wore Oranje 78 times, but he is now tasked with guiding Netherlands to Euro 2020 and then the World Cup. He has been appointed on a contract that will run until the 2022 finals in Qatar, which begin in November of that year.
  • Renewed Natalie Wood death investigation may be nearing end

    Renewed Natalie Wood death investigation may be nearing end

    But the case was reopened in 2011 after the captain said he heard the couple arguing the night of her disappearance. Why Has the Case Been Reopened? "As you may recall, Natalie Wood was later reported missing from the boat".
    PSG captain Thiago Silva: Messi tougher to defend than Ronaldo

    PSG captain Thiago Silva: Messi tougher to defend than Ronaldo

    The five-time World Champion topped the group comfortably while losing just once during the qualification. They will both be remembered as two of the greatest - if not *the* two greatest - players of all time.
    All leadership united on Kashmir issue, Pakistan to continue its support: PM

    All leadership united on Kashmir issue, Pakistan to continue its support: PM

    He said brutal force and propaganda cannot gag the voice of freedom, nor it can alter Pakistan's resolute and principled stance on Kashmir.
  • Shock as Kenya ejects Nasa politician Miguna Miguna

    Shock as Kenya ejects Nasa politician Miguna Miguna

    Miguna has been in police custody since Friday morning when he was arrested dramatically from his Runda house, which was extensively damaged.
    Snap's efforts to reel in new users are starting to pay off

    Snap's efforts to reel in new users are starting to pay off

    Those design changes have put a bigger emphasis on user-to-user sharing, as opposed to content created by publishers and brands. That would also put Snap's yearly sales at $793 million, nearly double the $404 million it brought in in 2016.
    Mets reportedly sign Todd Frazier to a two-year, $17 million contract

    Mets reportedly sign Todd Frazier to a two-year, $17 million contract

    The Mets added some instant pop to their lineup Monday, reportedly reaching a deal with free-agent third baseman Todd Frazier . The 31-year-old third baseman hit a combined.213 with 27 home runs and 76 RBI with the Yankees and White Sox last season.


Popular

Syria conflict: United States in rare counter-strike after Deir al-Zour attack
At least 100 militants were killed in the Coalition's attack, a USA military official told reporters on Wednesday. No American troops were wounded or killed in the attack, however one SDF member was hurt.

Red Dead Redemption 2 Battle Royale Mode And Other Big Leaks
Teams will have a limited amount of time to revive teammates if they get downed, after which they will be eliminated for good. Check out two new Red Dead Redemption 2 screenshots that were provided to our TrustedReviews as part of the leak.

USA considers use of first-strike nuclear weapons
Russian Federation is questioning USA compliance with the treaty, whose limitations on long-range nuclear weapons took effect Monday.

Snow and Ice Expected in Putnam County on Wednesday
But the National Weather Service says Wednesday's forecast won't be the big thump of snow some people were hoping for. Colder air will sweep southeastward behind the storm, causing any lingering wet and slushy areas to freeze solid.

Best Buy to stop selling CDs
Target told labels that it no longer wants to take inventory risk on the sales of music and video a year ago . Digital music sales and streaming have made the venerable music CD very close to obsolete for some consumers.

The Cloverfield Paradox Review - A Fascinating But Wildly Uneven Entry
The Cloverfield Paradox cameos of Pegg and Grunberg aren't the only actors to make voice-only cameos in a Cloverfield film . With such a stellar cast, we expected big things from the film , but it just didn't do it for me and other Netflix fans.

'Westworld' Season Two: Premiere Date Revealed & Trailer Aired In Super Bowl Ad
The second season of Westworld lands April 22 internationally, and it's shaping up to be a bloody, bruised battle on all sides. The first trailer for season two appears to pick up exactly where the first season left us, in turmoil.

3 officers shot in Colorado Springs, 1 dead
El Paso County sheriff's deputy Micah Flick was shot and killed Monday during a struggle with a male suspect with a gun. A procession will take a slain El Paso County sheriff's deputy across Colorado Springs at 7:30 p.m.

LAPD: Shooting by 12-year-old girl at school 'not intentional'
Jordan Valenzuela, 12, told The Associated Press he was in class when he heard the bang and screaming. The school was placed on lock down for around 20 minutes as police searched the school's premises.

Newcastle hold on to draw with Eagles
Luka Milivojevic converted a second-half penalty to earn Crystal Palace a 1-1 draw at home to Newcastle in the Premier League . They remain 16th but at kick-off had been level on 24 points with 19th-placed Huddersfield, Stoke and Swansea.