Disney had a strong Q4 with revenue reaching US$20.1 billion, up 9% from the same period last year in large part to its streaming success and the return of its park business.

For the full year and fourth quarter ending October 1, the company’s revenue was up 23% to US$82.7 billion year-over-year. Its direct-to-consumer (DTC) revenue climbed 8% to US$4.9 billion, driven by higher subscription revenue in Q4. The company noted that growth was tempered by higher programming and production costs, as well as a lack of “Premier Access” releases (which generate additional subscriber fees) compared to last year’s Q4, which included Black Widow and Jungle Cruise.

Disney+ subscribers are up 39% to 164.2 million, while ESPN+ almost doubled its subscriber base to 24.3 million (a 42% rise) and Hulu got an 8% bump to 47.2 million. In comparison, rival Netflix has around 223 million subscribers as of its Q3 ending September 30.

Disney+’s growth is setting the company up for success into next year, and puts the streamer on track to achieve profitability in fiscal 2024, Disney CEO Bob Chapek said in a release. Disney+ is also rolling out its ad tier on December 8, a move that’s predicted to further bolster its streaming business, he added.

The company’s parks, experiences and products segment climbed to US$7.4 billion, a 36% increase due to increased attendance and visitor spending at parks and cruises returning to regular operating level for the first time this quarter.

Its consumer product business climbed slightly to US$1.3 billion, a 4% increase. Higher sales of Mickey and Friends, Encanto and Toy Story merch drove the increase.

However, Disney also saw declines in its linear networks, content sales/licensing and other segments. Linear network revenue dropped 5% to US$6.3 billion in Q4; for the full year, the segment’s revenue increased only 1% to US$28.3 billion. This drop was due in part to a decrease in its international channels’ advertising revenue, which itself was caused by lower viewership (Disney didn’t have the same big sports events to broadcast, due to the pandemic).

Its content sales, licensing and other revenue was down 15% to 1.7 billion, primarily due to lower TV/SVOD distribution sales to third party networks. Theatrical distribution and stage play revenues offset those losses slightly but Disney also had fewer releases this quarter compared to 2021. Thor: Love and Thunder was its major movie release this summer, compared to the same quarter last year when it had multiple titles on release, such as Free Guy, Shang-Chi and the Legend of the Ten Rings and Black Widow.