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Disney bounces back with 34% revenue growth in Q1

Despite the pandemic, the House of Mouse posted a strong first quarter, with Disney+ growing its paid subscriber base to 129 million.
February 10, 2022

The pandemic may have forced the House of Mouse to make do with significantly reduced revenue from theatrical releases and its parks, cruise ships and resort vacations, but it didn’t stop the company from profiting in Q1 2022. Disney has reported strong quarterly earnings of US$21.8 billion, up 34% from the US$16.2 billion it posted in Q1 2021.

Overall, total subscriptions for Disney’s portfolio of streaming platforms increased to 196.4 million in Q1—this includes 11.8 million new Disney+ subscribers, bringing the SVOD’s total up to 129 million. Quarterly revenue from the linear networks finished flat at US$7.7 billion compared to Q1 2021, with domestic channels up 1% to US$6.2 billion and international channels down by 4% to US$1.6 billion.

In other sectors, direct-to-consumer revenue for the quarter increased by 34% to US$4.7 billion, and content sales and licensing revenue was up 43% to US$2.4 billion.

Despite pandemic-related closures and reduced capacities, Disney Parks, Experiences and Products more than doubled its Q1 revenue year over year, from US$3.6 billion in 2021 to US$7.2 billion in 2022.

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