Disney revenues fall 4%
Interactive Media arm reports losses of $295 million
Entertainment giant Disney has reported its full year financial results for the 12 months ending October 3, 2009, with headline corporate revenues falling year-on-year by 4 per cent to USD 36.1 billion, while net income was down 25 per cent to USD 3.3 billion.
The Interactive Media segment of the business, which includes Disney Online and Disney Interactive Studios, saw revenues decrease in that period by 1 per cent, while losses for the year stood at USD 295 million - the only segment not to make a profit.
Looking at further detail, Disney Online actually saw improved results thanks to lower marketing costs and higher subscription numbers from Club Penguin - but this was outweighed by a fall in unit sales, lower licensing revenue and higher unit costs for games published by DIS.
Titles released in the period included High School Musical 3 and Sing It, compared to the previous year's line-up for High School Musical, Turok and Pure.
The company's share price closed yesterday down 0.8 per cent to USD 29.05, but was up in after hours trading by 2.24 per cent to USD 29.70.