The Walt Disney Company has reported its third-quarter financial results, and the company saw revenue decline during the period.
In total, the company reported revenue of $22.46 billion for the quarter. That figure fell short of the $22.83 billion predicted by analysts for the period, but is roughly in line with what the company earned during the same time period a year ago.
In the entertainment division — which includes the broadcast TV, streaming television, and motion picture sectors — the company saw a 6% revenue decline.
The company said that its direct-to-consumer revenue rose 8% compared to the previous year. However, linear networks saw revenue decline by $107 million compared to the same time a year ago, with its domestic linear networks being largely affected by the lack of political advertising, which represented $40 million of its revenue during the prior year.
ESPN’s operating income declined 3% year-over-year. However, domestic advertising revenue increased 8% during the quarter.
Included in the report about the Disney financial results was the revelation of updated streaming subscriber counts. Disney+ features 131.6 million subscribers worldwide, split virtually evenly between foreign and domestic subscribers. Hulu, meanwhile, features just under 65 million subscribers. After launching ESPN as a direct-to-consumer offering in August, the company’s leadership has stated it does not plan to regularly disclose subscriber numbers for that project.
The financial results released do not reflect any issues with the recent carriage dispute with YouTube TV, as that came following the conclusion of the quarter that ended on September 30th.
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