Disney Company Posts Nearly $400 Million Loss During 2023

in Cosplay, Entertainment

Tatiana Maslany in She-Hulk: Attorney at Law

Credit: Marvel

The Walt Disney Company lost a lot during 2023, but the numbers are getting better.

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Credit: Disney

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There’s no denying that the Walt Disney Company has adapted and evolved significantly in 2023, bringing new experiences to its collection of theme parks around the world and releasing some of the most fun and nostalgic films of the company’s entire history. There’s also no denying that Disney has faced some of its harshest opposition and toughest battles during 2023, ranging from issues within its theme parks as well as political battles against Florida Gov. Ron DeSantis.

However, financially speaking, Disney has been floundering, at least in terms of its streaming service.

Flounder and Sebastian in Disney's The Little Mermaid.
Credit: Disney

Over the course of the last 12 months, we’ve seen The Walt Disney Company stock price hit record lows, reaching points we have not seen since 2014. Couple the shaky performance on Wall Street with some major failures at the theme parks, such as th permanent closure of a $250 million Star Wars experience, and it’s easy to see that 2023 has been quite shaky for Disney.

According to recent reports, Disney is set to lose hundreds of millions on the streaming side of things as well.

A family in their room inside of Star Wars Galactic Starcruiser at Disney's Hollywood Studios in Walt Disney World Resort
Credit: Disney – Star Wars Galactic Starcruiser

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As reported by VarietyThe Walt Disney Company will be posting $387 million in losses during Q4 of 2023. Despite this number being quite large, this actually represents a year-over-year improvement of 74% from a loss of $1.4 billion in Q4 of 2022.

By the end of the fiscal fourth quarter, Disney+ reached a whopping 150 million subscribers, which is up from 147 million in the previous quarter.

“While we still have work to do, these efforts have allowed us to move beyond this period of fixing and begin building our businesses again. We have a solid foundation of creative excellence and innovation built over the past century, which has only been reinforced by the important restructuring and cost-efficiency work we’ve done this year, and we’re on track to achieve roughly $7.5 billion in cost reductions.”

This information comes as The Walt Disney Company holds its Q4 2023 earnings call, which you can check out here.

Chris Pratt as Star-Lord in Guardians of the Galaxy Vol. 3
Credit: Marvel Studios

Despite these losses, Disney+ is an incredible streaming service, one that truly rivals Netflix, Amazon Prime Video, and MAX. Disney+ was significantly beefed up in 2023, allowing fans to watch some major summer blockbusters on-demand. Movies like Haunted Mansion (2023), Indiana Jones and the Dial of Destiny, and Guardians of the Galaxy Vol. 3 (2023) are all available to stream in the comfort of your own home. Fans of animation can enjoy Disney Pixar’s Elemental (2023), which became one of the company’s biggest hits.

Disney+ is also the home of Star Wars and Marvel, offering countless hours of entertainment. From Secret Invasion to Ahsoka, there’s something for everyone to enjoy. Disney+ is also home to hundreds of iconic and classic Disney films, like The Little Mermaid (1989), Cinderella (1950), and Snow White and the Seven Dwarfs (1937).

The Walt Disney Company recently announced its plans to purchase Hulu, indicating the company has no intention of pulling out of the streaming game early.

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