The Walt Disney Company reported a 3% increase in total revenues for fiscal year 2025, reaching $94.4 billion, compared to $91.4 billion in the previous year. The company's net income attributable to Disney surged to $12.4 billion, a significant rise from $5.0 billion in fiscal 2024, resulting in diluted earnings per share of $6.85, up from $2.72. This growth was attributed to a lower effective tax rate and improved operating income across its Entertainment and Experiences segments, despite the impact of the Star India Transaction, which reduced service revenues.
In terms of segment performance, the Entertainment segment generated $42.5 billion in revenue, a 3% increase from the prior year, driven by higher subscription fees and content sales. However, advertising revenue and affiliate fees declined, particularly due to the Star India Transaction. The Sports segment's revenue remained relatively stable at $17.7 billion, while the Experiences segment saw a 6% increase in revenue to $36.2 billion, bolstered by higher theme park admissions and resort sales. The overall operating income for the Experiences segment rose to $10.0 billion, reflecting strong performance in domestic parks and experiences.
Disney's direct-to-consumer services, including Disney+ and Hulu, reported a combined total of approximately 196 million paid subscribers as of September 27, 2025. Disney+ alone had around 132 million subscribers, while Hulu had approximately 64 million. The company noted an increase in average monthly revenue per paid subscriber for both services, indicating a successful pricing strategy despite competitive pressures in the streaming market. The company also announced plans to expand its cruise line operations, with two new ships set to launch in 2026.
The filing highlighted strategic developments, including the completion of the Star India joint venture with Reliance Industries, which is expected to enhance Disney's presence in the Indian market. Additionally, the company is focusing on content production and acquisitions, with plans to invest approximately $24 billion in produced and licensed content for fiscal 2026. Disney's capital expenditures are projected to increase to around $9 billion, primarily for theme park expansions and new attractions.
Looking ahead, Disney anticipates continued growth in its direct-to-consumer offerings, although it acknowledges potential challenges from evolving macroeconomic conditions and competitive pressures. The company remains committed to adapting its business strategies to meet changing consumer preferences and market dynamics, while also managing costs effectively to enhance profitability.
About Walt Disney Co
The Walt Disney Company is a global entertainment conglomerate engaged in media networks, film and television content production, theme parks, resorts, consumer products, and licensing. Its core segments include Entertainment, Sports, and Experiences, offering streaming services, cable channels, theatrical releases, and theme park attractions worldwide. Disney's value lies in its extensive intellectual property, diverse content library, and integrated business model across entertainment, leisure, and consumer products.
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