Disney, another magical quarter

Borrowing from Disneyland's slogan, their parent company experienced another magical quarter.

In the three months ended January 1, 2022, Disney's revenue exceeded $21.8 billion, 30% more than the same period in the previous year, and operating profit and net profit after tax depreciation achieved triple-digit growth.

The Omicron mutation didn't hurt the theme park's business much, with $2.15 billion in ticket revenue four times the same period last year, and visitors bought $1.63 billion worth of merchandise and food in the park, bringing Disney the second-best park performance in history.

The film, television and streaming businesses continue to act as cash cows, with total revenues of $14.6 billion. Among them, Disney+ had 129.8 million subscribers at the end of the season, adding 11.7 million subscribers in the current period. Other services disney owned, such as Hulu and ESPN+, also added more users than Wall Street expected. Total streaming revenue reached $4.7 billion.

CEO Bob Chapek said the company started its 99th fiscal year so strongly, adding to a rich asset package and a unique place in the culture that it has a strong confidence to "continue to define entertainment for the next 100 years."

In 1923, Walt Disney and Three Brothers Roy drafted the Brothers Animation Studio, and their image of Mickey comforted and inspired a generation of Americans in the wave of unemployment and bankruptcy six years later. In 1942, when the United States entered World War II, Mickey was used by the government to make propaganda posters calling on the public to buy government bonds to raise military funds.

Curiosity Daily quoted a 1935 New York Times article as saying, "Everyone can find traces of themselves in Mickey, and it is a bridge to the self." ”

From the 1950s onwards, Disney began to diversify its operations, opening its first theme park. At its age of 100, Disney is no longer a Mickey Mouse company, and their business revolves around theme parks, merchandise, music, publishing, film and television, and online video.

Some have criticized them for long since their creative flair and have pointed the finger at Robert Iger, who will be Disney's CEO from 2005 to 2021. But the former CEO, who knows what audiences want, bought Pixar and Marvel to reinvigorate Disney's entertainment industry. He also bet on Shanghai to open the mainland's first Disney theme park in 2016. (Gong Fangyi)