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6 days ago
- Business
- Yahoo
ESPN swallowing NFL RedZone, Hulu getting integrated, and Wrestlemania: Disney's big streaming swings, explained
The streaming wars entered yet another new iteration on Wednesday as Disney announced a major change to the division that it calls direct-to-consumer: Disney+ will integrate Hulu's operations, transforming into something that looks a lot like the old linear TV bundle. As CEO Bob Iger told investors on the company's third-quarter earnings call, 'combining Hulu into Disney plus [will] create a unified app experience featuring branded and general entertainment, news, and sports resulting in a one of a kind entertainment destination for subscribers.' The night before Disney released its third-quarter earnings, the company confirmed it had struck a deal with its long-time partner in sports, the National Football League, an asset and equity swap that sees the NFL getting a 10% stake in Disney's ESPN division and ESPN/Disney acquiring several streaming assets from the NFL. The NFL's 10% stake in ESPN is valued between $2 billion and $3 billion, per estimates from Octagon. ESPN will gain the rights to three additional NFL games per season, previously broadcast by the NFL's own networks, meaning more of America's highest-rated TV show, live football, will be Disney's as the company fortifies its streaming war chest. Disney has been reconstructing ESPN to survive the decline of linear TV with the launch of a standalone streaming service, and it will now plug in content beloved by football fanatics: the NFL Network, NFL RedZone distribution rights, and NFL Fantasy Football. In streaming, Netflix and Amazon have each acquired more NFL rights over recent years, so Disney's move shows its playing defense and some offense, too, on this front. Disney also announced an expanded agreement with the WWE, another recent Netflix partner, which subsequently emerged as a $1.6 billion deal that will make Disney the home of the marquee event, Wrestlemania. Iger said on the earnings call that ESPN 'will be the exclusive home for WWE Premium Live Events, further expanding ESPN's rights portfolio.' On Disney's plans in this area, Iger added Disney is 'building ESPN into the preeminent digital sports platform with our highly anticipated direct to consumer sports offering.' Disney revealed in its earnings that the sports division, anchored by ESPN, saw revenue fall 5% to $4.3 billion, mainly because of higher NBA and college-sports rights fees. Segment profit, however, soared 29% to $1 billion as a merger in its Indian unit took some losses off its balance sheet. Streaming profitable amid linear TV, movie studio decline Overall, third-quarter earnings showed resilience in key business segments for Disney such as streaming and theme parks, even as its traditional TV and film studio divisions showed fatigue. Total revenue for the quarter ending June 28 rose 2% year-over-year to $23.7 billion, just under Wall Street forecasts, while adjusted earnings per share climbed 16% to $1.61, surpassing analyst expectations of $1.47. Net income before taxes rose 4% to $3.2 billion. A headline achievement for Disney was the solid performance of its streaming business, which posted a 6% revenue increase to $6.2 billion and achieved operating profit of $346 million—a substantial turnaround from a $19 million loss reported in the same quarter last year. Subscriber metrics reflected steady gains, with Disney+ ticking up 1% quarter-over-quarter for a total of 128 million and Hulu by the same margin to 55.5 million subscribers. The combined Disney+ and Hulu subscriber base climbed to 183 million, up 2.6 million versus the previous quarter. Disney also finalized its acquisition of the remaining stake in Hulu from Comcast/NBCUniversal in June, setting the stage for a tighter integration of its streaming brands later this year. Meanwhile, Disney's studio entertainment segment saw a more modest 1% revenue growth to $10.7 billion, weighed down by a 15% drop in operating income to $1 billion. Theatrical releases, including original animated and live-action remakes, underperformed compared to last year's strong box-office showing with 'Inside Out 2.' Additionally, Disney's linear TV networks, including ABC and Disney Channel, recorded a 15% year-over-year decline in revenue to $2.3 billion, underscoring ongoing challenges from cord-cutting and lower international results following the Star India deal. Looking ahead, Disney expects total subscriptions for Disney+ and Hulu to rise by over 10 million in the next quarter, driven in part by an expanded agreement with Charter Communications. Theme parks and experiences shine Disney's 'Experiences' segment—which covers theme parks, cruise lines, and consumer products—delivered robust numbers, outstripping earlier forecasts. Q3 revenue increased 8% year-over-year to $9.1 billion, fueled by a 22% surge in operating income at domestic parks and experiences to $1.7 billion. Disney pointed to strong guest spending and higher occupancy rates in its parks and cruise lines, especially at Walt Disney World, despite the highly anticipated opening of competitor Universal's Epic Universe in Orlando. Executives emphasized the 'continued resilience' of Disney's park business in the face of new competition. Guidance raised, optimism for 2025 Notably, Disney raised its guidance for fiscal 2025, projecting adjusted earnings of $5.85 per share—an 18% increase over the prior year. The company also anticipates double-digit segment operating income growth in entertainment and sports, with an 8% gain in experiences for the full year. CEO Bob Iger affirmed Disney's commitment to global expansion, noting more active park expansions than at any time in Disney's history and highlighting ongoing strategic investments in streaming, theme parks, and sports as drivers for future growth. 'Disney is not done building, and we are excited for the future,' Iger said following the earnings release. For this story, Fortune used generative AI to help with an initial draft. An editor verified the accuracy of the information before publishing. This story was originally featured on
Irish Times
29-04-2025
- Irish Times
The challenges of moving to another country
The trials and tribulations of moving abroad were a common theme throughout the abroad section this month. Brianna Parkins writes about how she noticed an influx of videos on TikTok 'deinfluencing' people from moving to Australia. It is a hard thing to do, she says, uprooting your whole life – and that's without the added bonus of visa limitations, housing shortages and pressures from social media. This being said, don't let what others post online dampen how you spend your days. She writes: 'The best thing about the beach is that you can go any time of the day. Don't let these influencers who base their day around getting a cute coffee at 7am convince you otherwise. Who cares what people at home think – you're already so far in advance of everyone else who just talked about [leaving] but never followed through.' Laura Kennedy, who is also based in Australia, writes about how the 'lead against bone' feeling of homesickness crept up on her in recent weeks. Though agonising, she acknowledged: 'This homesickness is not a dissatisfaction with the life you have built abroad. Neither is it a wish to return home for good. It isn't a yearning for return but rather for reconnection. It is an involuntary tendency to feel a little lost inside the distance between this and your other life – the one you left behind but which continued without you.' READ MORE Building a meaningful life wherever you settle is important and Margaret E Ward looks at just how to do this. Moving country, finding a job and settling into a social scene can all be exciting, but how can you avoid the loneliness trap once the novelty wears off? Ward suggests building habits and exploring your interests, to name a few, and chats with Dubliner down under Rachel Rushe about the network she built in Sydney when she moved in 2020. Meanwhile, Deirdre McQuillan spoke to Lauren McNicholl , a Ballymena native who is possibly the only Irish woman tailor in Spain. McNicholl finds the people sociable and welcoming. She says: 'If you make an effort to speak the language, they will encourage you to keep going and they love to chat and talk so it is very similar to Irish culture.' Rita Hogan, an Irish teacher based in China, writes about her experience meeting an everyday hero in Wu Guo Liang, a security officer who put her at ease after a frightening incident. The pair got to know each other and Hogan learned of the selfless acts he took on to make their campus, and the world, a better place. 'I really believe in 'one world, one family',' Wu told her. Lucan native Conor O'Driscoll is now based in Columbus, Ohio, in the United States, and speaks to Frank Dillon about how he won $100,000 on NFL Fantasy Football. Having coached the sport for years before he left Ireland, he put his winnings to good use and bought a house with his wife, Lauren – a feat he does not think would have been possible had he stayed in Ireland. There are pros and cons, as always, as O'Driscoll explains: 'Columbus is an easy city to live in. The cost of living is a lot cheaper than Dublin. The wages are at least comparable, and the commute is short – it's just 20 minutes to drive anywhere in Columbus. The only thing is that you don't have the same variety as you would have in Dublin where you can go to the coast or the mountains, which are things I miss.' For Sibéal Turraoin, a landscape and travel photographer, a permanent move abroad wasn't on the cards . The Waterford native and her aunt, the musician Máire Breathnach, were the first Irish women to navigate through the Northwestern Passage to Alaska in 2010. When another sailing voyage to Greenland was thwarted due to problems with the boat, Turraoin decided to take a hiking trip to Iceland and stay for the winter. 'And then, sure I'll stay for the summer and then make that a year – and I am still here eight years later,' she says with a laugh. Having lived in the country for so long, she says it's changed her. 'When I come home, I am quite Scandinavian and quieter. I lived for 10 years in Dublin and can't imagine going back and when I do come back to Ireland, it is to home in the Gaeltacht in Ring [Co Waterford].' In 2002, 25-year-old Ronan Guilfoyle was mesmerised by life on the Cayman Islands and, all these years later, has no intention of leaving. On his laptop in rainy Cork way back when, he 'could see pictures of Irish people enjoying sun-drenched beaches, a GAA club and an Irish bar. What the hell I am doing here, I thought?' He's now raising a young family alongside wife Cait Kelleher (sister of Liverpool goalkeeper Caoimhín) and says he gets his fill of Irishness through regular trips home. Finally, Paul Kearns, a freelance journalist from Dublin but based in Tel Aviv, Israel, writes about how he has questioned why he remains in the country in light of the occupation of Gaza. He says: 'I felt a pit in my stomach, and couldn't help but think to myself: why am I here? Why am I here at all, in Israel, with my two young Israeli daughters? And that despite the undeniable rise in anti-Semitism and a visceral hatred of all things Israeli in Ireland, would it not be better for them to grow up in Dublin?' You'll find plenty more stories by and about the Irish diaspora that you might have missed on . If you would like to contribute by writing your own story, you can contact abroad@ . Thanks for reading.
