“Disney’s third-quarter earnings slid 27% from a year ago as the company’s movie studio bled red ink,” TheStreet.com reports. “Disney earned $379 million, or 19 cents a share, in the quarter, compared with $516 million, or 25 cents a share, a year ago. Backing out stock options expenses, an accounting change and several other items, earnings were 20 cents a share. Analysts were forecasting 18 cents a share in the latest period. Disney said revenue rose 3% from a year ago to $7.73 billion, about $150 million short of estimates.”
TheStreet.com reports, “The main contributor to Disney’s lower earnings was its studio entertainment segment, where revenue slid 20% to $1.5 billion and the operating loss totaled $304 million before options expenses, reversing a small profit in the year-ago period. Disney blamed declining home video sales partially offset by an improvement in domestic theatrical motion picture distribution and lower film cost write-downs… Disney didn’t provide earnings guidance in its release although it did tout its ability to capitalize on new technology, citing a recent agreement with Apple to provide video content for the iPod. ‘As a modern media company Disney is well positioned to take advantage of these changes by continuing to develop strong content and leverage that content across our businesses and new technologies. Our agreement with Apple to make programming available on the iPod is a fitting example of our efforts in that regard. As the media landscape continues to change, our creative excellence and consumer focus will enable us to continue delivering benefits to shareholders.'”
Full article here.
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eah, , ,
Disney is having success with iTunes videos, THUS additional content is forthcoming?
One would hope. A handful of shows will not keep selling well. Disney needs to unleash it’s catalog of classic shows, and ABC’s current and classic shows too. Disney isn’t stupid, and hopefully with Iger at the helm, they won’t miss out on this.
Here´s what MDN wanted to say in their 2cents comments section….
“Because of the iTunes ABC deal ABC is toast! They are losing ad revenue because the old network model is dead. People by the millions are switching off their TVs and going iPod to watch Lost and Desparate Housewives. That´s why Disney has a lower profit. But Apple is Profiting mightly. And then you throw in Pixar….well, Disney ought to just sign its company over to Steve Jobs to be owner/operator.”
Eeeeek!
The reason Lost’s ratings are down lately is because of multiple weeks broadcasting re-runs, not because of iTunes downloads of the show.
That scraping sound you hear is Walt spinning in his cryogenic capsule.
Why would it make a scraping sound when he spins?
the ice crystals rubbing against the inside of the glass tube is what makes the scraping sound.
When are Disney and Apple going to realize that there’s a huge catalog in Disney’s vaults of made-for-iPod content….cartoons! Disney has thousands of high quality, 10 minute cartoons perfectly suited to the iPod/iTunes technology. The only way to make money faster would be to print it.
Walt was Cremated, not Frozen. Not that it matters.
what retired cryotube is he using, say? Mine is all soft and cozy.
i can only twice the comments about retro Disney content. Bring on the classics! Disney as of the last 15 yrs is dead anyway. Last good epic toon was Bernard & Bianca. Okay, the Iron Giant could have been a classic had it not been reedited to death etc. But I’d love to be able to DL short toons.
someone said the people behind nijai (ninjai.com) are working on some new fierce content for the ipod. Cant wait. Ninjai is still the best flash based story i’ve ever seen. thatone and Burton’s Stainboy
Hey Evinruder! Get your hands off your Johnson, cuz we know you are crazy about that Mercury!
Iron Giant was Warner Bros. Not Disney
Disney has loads of kids movies that were shown on TV as well – “Escape from Witch Mountain” and the like – they used to have that “Wonderful World Of Disney” show on sunday nights at 7pm. They should exhume all of that old content if they really want to “capitalize on new technology”