Disney+ adverts help House of Mouse rake in £4bn
The introduction of adverts on Disney+ has helped sales near the £4bn mark at the House of Mouse’s European arm, it has been revealed.
The Walt Disney Company has posted a turnover of £3.9bn for the 12 months to 28 September, 2024, up from the £3.8bn it achieved in the prior year.
New accounts filed with Companies House show that the group’s UK and Ireland turnover increased in the year from £1bn to £1.1bn and from £2.5bn to £2.6bn in the rest of Europe.
In the rest of the world, Disney’s turnover declined from £195.1m to £172.5m.
The new results also show that the group’s pre-tax profit jumped from £718.4m to £766.6m during its latest financial year.
The US giant’s turnover was boosted by the launch of adverts on Disney+ in the UK, France, Germany, Switzerland, Italy, Spain, Norway, Sweden and Denmark in November 2023.
The group’s sales had also been boosted in its prior financial year thanks to price increases for Disney+.
A statement signed off by the board said: “The increase in turnover and profit for the period is mainly driven by the strong performance of Disney+ in the year, supported by the introduction of the new subscription tier model in November 2023, offset by a small downturn in theatrical performance in the year when compared to the very strong results in the prior year.
“The profit has also been offset by the increase in amortisation of the Marvel and Lucasfilm intellectual property as a result of the increase in the historical purchase price as reflected in the prior year.”
That increase resulted in a total impairment of £104.3m across the two entities.
Disney cruises to sales and profit growth
Separately filed accounts have also revealed the latest financial performance of Disney’s cruise line.
Despite being part of the wider group, Disney’s Magical Cruise Company submits its accounts in the UK and are not disclosed in the US.
According to the latest results, Magical Cruise Company achieved a turnover of $2.4bn for the year to 28 September, 2024, up from the $2.1bn it achieved in the prior year.
Its pre-tax profit also surged from $188.2m to $358.8m.
The business has six ships in its fleet and operates out ports in North America, Europe and the South Pacific.
A statement signed off by the board said: “Revenue and operating income improved compared to the prior year, primarily due to higher average ticket prices and an increase in passenger cruise days.
“These factors were partially offset by costs associated with fleet additions, inflation and dry dock costs.”