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Tag: The Walt Disney Co

  • Aditi Guha joins Prime Video as head of programming & content insights

    Aditi Guha joins Prime Video as head of programming & content insights

    MUMBAI: Amazon Prime Video has roped in media veteran Aditi Guha as head of programming & content insights for Prime Video and Amazon MGM Studios India. She joined the content giant in May 2025 and made the announcement today on Linkedin. 

    With over two decades of experience across media planning, consumer insight, content strategy and product monetisation, Guha is set to shape the streamer’s data-led storytelling and business decisions.

    Prior to this, Guha served as senior product researcher at Netflix APAC, where she led consumer insight across South Korea, Japan, India, Australia, and Southeast Asia, focusing on partnerships, churn, retention and commerce growth. Before that, she held multiple leadership roles at The Walt Disney Co in Singapore, launching Disney+ in Southeast Asia and building audience strategies across studios, media networks and licensing verticals.

    Her career began in media planning at Universal McCann and WPP, before she made her mark at Viacom18’s MTV Insight Studio and ABP News. Guha is an alumna of Symbiosis Institute of Media and Communication and has earned certifications from NUS Business School, IdeoU, and General Assembly in analytics and design thinking.

    With content wars heating up in the Indian OTT space, her appointment signals Amazon’s continued push to double down on data-fuelled programming decisions, local insights and international storytelling chops.

  • Tanuj Luthra elevated as chief business officer at CarDekho Group

    Tanuj Luthra elevated as chief business officer at CarDekho Group

    NEW DELHI: Auto-tech platform CarDekho Group has named Tanuj Luthra as its chief business officer, (CBO) marking a significant leadership elevation for the digital veteran with over two decades of experience in media, digital, banking, and telecom.. 

    Luthra, who joined CarDekho in 2023 as vice president – new auto, has since April 2025 (when he was named CBO) has been overseeing  the group’s entire business strategy, revenue leadership, and partnerships. His remit includes driving growth across digital ads, branded content, SaaS offerings, and white-label IPs, while accelerating the company’s digital transformation journey in the automotive space.

    A business engineer-turned-marketer with an MBA and a senior management programme from IIM Ahmedabad, Luthra has previously held key roles at Network18 and Star India, The Walt Disney Co, and Citibank. Known for cracking Rs 100-crore+ deals and pioneering brand-led content integrations, he has worked with top-tier brands including Dabur, Coca-Cola, Patanjali, and Alibaba.

    Industry insiders say Luthra’s mix of deal-making prowess, strategic acumen, and deep client relationships puts him in the driver’s seat to unlock the next chapter of growth for CarDekho.

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  • Urvashi Sharma joins Havas Play, bringing digital flair to experiential marketing

    Urvashi Sharma joins Havas Play, bringing digital flair to experiential marketing

    MUMBAI:  Urvashi Sharma has announced her move to Havas Play, taking on the role of associate vice president. This appointment marks a significant step in Sharma’s career, transitioning her extensive digital advertising sales experience into the realm of experiential marketing. 

    Sharma’s career boasts a strong track record in digital advertising sales, with significant tenures at MX Player and Zee5. At MX Player, she held various roles, including LCS lead: north and regional manager, demonstrating her expertise in strategy, account management, and business development. Her time at Zee5 as a business partner: north LCS further solidified her skills in digital brand solutions and strategic partnerships.

    Prior to her digital media roles, Sharma gained experience in brand solutions and events management at Bennett Coleman and Co Ltd. (Times group), askme.com, The Walt Disney Co, BloombergUTV, and Fever FM (HT Media Ltd.). These positions honed her abilities in client relations, negotiation, and large-scale event management. Her foundational experience includes a stint as a relationship specialist at Genpact

  • Yash Raj Films promotes Hemant Kundnani to sr general manager communications

    Yash Raj Films promotes Hemant Kundnani to sr general manager communications

    MUMBAI:  Hemant Kundnani has been promoted to senior general manager – communications at Yash Raj Films (YRF), one of India’s most prestigious film production companies. The promotion comes after three years of service at the Hindi cinema  powerhouse, where he previously held the position of general manager – communications.

    Kundnani brings industry experience to his elevated role, having previously served as head of marketing at Pooja Entertainment from March 2020 to August 2021. During his tenure there, he oversaw marketing for Bellbottom, notably one of the first film projects globally to complete production during the coronavirus pandemic.

    Before joining Pooja Entertainment, Kundnani spent nearly six years at The Walt Disney Co in increasingly senior positions. He served as senior manager for digital strategy, analytics and alliances at Fox Star Studios (a Disney subsidiary) from December 2016 to March 2020, where he focused on understanding cinema audiences and building data analytics capabilities to optimise marketing expenditure.

    His Disney career began in the interactive division, where as manager of products, marketing and alliances, he spearheaded a global strategic alliance with the International Cricket Council to develop the official game of the 2015 Cricket World Cup. The game achieved the number one position in sports app rankings across India, UK and Australia, garnering one million downloads within three days of release.

    Kundnani’s entertainment industry credentials also include a three-year stint at UTV, where he worked as senior associate marketing for UTV Stars movie channels. During this period, he contributed to the Walk of the Stars  project, described as “a tribute to the big stars of Hindi cinema” and the first attraction of its kind in India.

  • Disney showcases perfect marriage of creativity and tech at shareholder meeting

    Disney showcases perfect marriage of creativity and tech at shareholder meeting

    MUMBAI: The Walt Disney Co held its 2025 annual shareholder meeting on Thursday, with boss Bob Iger waxing lyrical about the firm’s “perfect marriage of exceptional creativity and groundbreaking technological achievement” which, he insisted, “has always set Disney apart.”

    “Since the company’s earliest years under Walt, technology has always been viewed as a powerful storytelling tool, and innovation has been in our DNA since the start,” Iger declared in a video message from Walt Disney Imagineering’s headquarters in Glendale, California.

    In a move that would make even Darth Vader crack a smile, Iger was joined by a flock of BDX droids—the same mechanical marvels that have been harassing guests at Disneyland—which will soon make their silver screen debut in The Mandalorian and Grogu, next year’s highly anticipated Star Wars cash cow.

    The mouse house enjoyed a whopper of a year at the global box office in 2024, with Iger crowing about its  “outstanding” performance following a reorganisation that “restored creativity to the centre of our studios.”
    The company’s popular franchises brought home the bacon, with Pixar’s Inside Out 2, Marvel’s Deadpool & Wolverine, and Walt Disney Animation Studios’ Moana 2 claiming the top three spots at the box office. Talk about a triple threat.

    Disney’s critical success was equally impressive. “Our renewed focus on quality over quantity has also resulted in outstanding critical success,” Iger boasted, noting that the company bagged a whopping 60 Emmy Awards, led by Shogun and The Bear. The firm also scooped 15 Oscar nominations, with Kieran Culkin winning Best Supporting Actor for his turn in Searchlight Pictures’ A Real Pain.

    Looking ahead, Iger dropped a bombshell: a sequel to Coco, Pixar’s 2017 Academy Award-winning tearjerker, is in the works. “While the film is just in the initial stages, we know it will be full of humour, heart, and adventure,” he said, no doubt sending Mickey-shaped dollar signs spinning in shareholders’ eyes.

    The Disney chief was keen to remind everyone that all these cinematic delights “will all be accessible on Disney+,” expanding the firm’s “rich library of a century’s worth of storytelling.”

    “By giving subscribers the option to watch what they love most from across the worlds of Disney, all in one place, we are turning Disney+ into the ultimate streaming destination,” Iger declared.

    With the recent additions of Hulu and ESPN tiles on Disney+, the company has created what Iger calls a “seamless streaming experience” that is “both convenient and user-friendly.” And when ESPN’s new direct-to-consumer offering launches in early autumn, subscribers can access the full suite of ESPN’s networks from inside Disney+. How thoughtful.

    Turning to Disney’s Experiences segment, Iger was practically bursting with excitement. “Last year we talked about our plans to turbocharge growth in this segment through strategic investments. Today I’m proud to share some of what we’ve been up to,” he gushed. “Right now, we have more projects underway around the world than at any time in our history.”

    The Magic Kingdom is undergoing its largest expansion ever, including a new area inspired by Cars and a much-anticipated Villains-themed land where guests can presumably pay $15 for a villain-themed ice cream while queuing for three hours.

    A Monsters Inc. themed land is coming to Hollywood Studios, featuring the company’s first-ever vertical lift coaster (guaranteed to make your wallet feel lighter than your stomach). Meanwhile, a new Tropical Americas land is headed to Disney’s Animal Kingdom, with attractions based on Encanto and Indiana Jones.

    Disney Cruise Line is also expanding, which will allow the company to “double our capacity to reach millions more people around the world,” according to Iger. Because nothing says “magical experience” like being trapped on a boat with thousands of screaming children wearing Mickey ears.

    Iger also took time to highlight Disney’s charitable efforts, noting that in the wake of the devastating wildfires in Southern California, the company committed $15 million to recovery efforts.

    “We remain the No. 1 wish-granter in the world for children facing critical illness, and on average Disney grants a child’s wish every hour of every day,” he said, temporarily making even the most cynical shareholders feel warm and fuzzy.

    Iger concluded his remarks by returning to technology: “Thanks to modern technology, there’s never been a better time to be a storyteller,” he said.

    Or, indeed, a Disney shareholder.

  • Disney reports substantially better results in Q1 FY 2025

    Disney reports substantially better results in Q1 FY 2025

    MUMBAI: The Walt Disney Company reported robust Q1 FY25 financial results, driven by growth in its entertainment and experiences divisions and a return to profitability in streaming operations. The company posted a 44 per cent  jump in adjusted earnings per share to $1.76, exceeding market expectations of $1.45. Revenue rose by five per cent  to $24.69 billion, fuelled by strategic price hikes across streaming services.

    The direct-to-consumer (D2C) segment, encompassing Disney+, Hulu, and ESPN+, delivered a $293 million operating profit, recovering from a $138 million loss in the same quarter last year. However, Disney+ saw a marginal decline in subscribers, slipping to 124.6 million from 125.3 million in Q4 FY24. Hulu reported a three  per cent  growth in its subscriber base, offsetting some losses.

    Despite the dip in Disney+ subscribers, D2C revenue increased by nine per cent, reflecting the effectiveness of pricing strategies. The company announced plans to launch ESPN as a stand-alone streaming service by fall 2025, with a focus on delivering comprehensive sports content and digital features.

    Disney’s entertainment division recorded double-digit operating income growth, supported by the success of key franchises. Box office revenue saw a rebound, thanks to blockbuster releases and a strong international performance. Upcoming releases are expected to sustain this momentum in the next quarter.

    The sports division reported an impressive operating income of $250 million, reversing a $100 million loss from the same period last year. The absence of major cricket events in Q1 and improved operating efficiencies contributed to this turnaround.

    The experiences, parks, and products segment remained a key growth driver, bolstered by strong demand for domestic and international parks. Revenue from this segment surged by double digits as travel and leisure activities continued to normalise post-pandemic.

    Disney finalised a $220 million merger of its Hulu + Live TV business with FuboTV, taking a 70% ownership stake in the combined entity. CEO Bob Iger confirmed the company’s commitment to further growth in digital entertainment and immersive experiences.

    Looking ahead, Disney forecasts high single-digit earnings per share growth for FY25 and double-digit operating income growth in the entertainment division. However, the stock dipped 2.4 per cent  following the report, influenced by concerns over Disney+ subscriber declines.

    Meanwhile, moving on to its India operations. The mousehouse expects a $300 million equity loss from its Indian joint venture (JV), JioStar, in FY25 due to purchase accounting, according to CEO Bob Iger and CFO Hugh Johnston in the company’s Q1 FY25 earnings commentary. The JV, formed with Reliance Industries (RIL) and Bodhi Tree Systems, marked the merger of Star India, Disney+ Hotstar, and Reliance’s media assets.

    Disney, which holds a 37 per cent  stake in JioStar, deconsolidated Star India’s results from 14 November 2024. This quarter included just 1.5 months of Star India operations, compared to a full year in fiscal 2024. The company reported a $33 million equity loss from the JV in Q1, primarily linked to purchase accounting.

    The JV is projected to contribute $74 million to Disney’s entertainment operating income in FY25, down from $254 million last year, while the sports segment is expected to generate $9 million, recovering from a $636 million loss.

    Advertising revenue from Disney+ Hotstar in India fell sharply to $15 million in Q1 FY25, compared to $165 million the previous year. Despite this decline, direct-to-consumer (D2C) ad revenue outside India rose 16 per cent. Disney anticipates D2C operating income to increase by $875 million in FY25, partly due to an improved comparison against a $200 million adverse impact from Disney+ Hotstar in the previous year.

    Sports segment income improved to $250 million in Q1, recovering from a $100 million loss in Q1 FY24, which had aired the ICC Cricket World Cup.

    The company recognised a $143 million impairment charge and a $0.2 billion non-cash tax charge in Q1 FY25 as part of transaction-related restructuring. Cumulative foreign currency translation losses net of tax amounted to $0.8 billion.

    JioStar, valued at $8.5 billion, is 56 per cent  owned by RIL and seven per cent  by Bodhi Tree Systems. Disney’s move signals a strategic shift in its approach to the Indian market amid evolving media consumption patterns.

    The Walt Disney Company reported robust Q1 FY25 financial results, driven by growth in its entertainment and experiences divisions and a return to profitability in streaming operations. The company posted a 44 per cent  jump in adjusted earnings per share to $1.76, exceeding market expectations of $1.45. Revenue rose by five per cent  to $24.69 billion, fuelled by strategic price hikes across streaming services.

    The direct-to-consumer (D2C) segment, encompassing Disney+, Hulu, and ESPN+, delivered a $293 million operating profit, recovering from a $138 million loss in the same quarter last year. However, Disney+ saw a marginal decline in subscribers, slipping to 124.6 million from 125.3 million in Q4 FY24. Hulu reported a three  per cent  growth in its subscriber base, offsetting some losses.

    Despite the dip in Disney+ subscribers, D2C revenue increased by nine per cent, reflecting the effectiveness of pricing strategies. The company announced plans to launch ESPN as a stand-alone streaming service by fall 2025, with a focus on delivering comprehensive sports content and digital features.

    Disney’s entertainment division recorded double-digit operating income growth, supported by the success of key franchises. Box office revenue saw a rebound, thanks to blockbuster releases and a strong international performance. Upcoming releases are expected to sustain this momentum in the next quarter.

    The sports division reported an impressive operating income of $250 million, reversing a $100 million loss from the same period last year. The absence of major cricket events in Q1 and improved operating efficiencies contributed to this turnaround.

    The experiences, parks, and products segment remained a key growth driver, bolstered by strong demand for domestic and international parks. Revenue from this segment surged by double digits as travel and leisure activities continued to normalise post-pandemic.

    Disney finalised a $220 million merger of its Hulu + Live TV business with FuboTV, taking a 70% ownership stake in the combined entity. CEO Bob Iger confirmed the company’s commitment to further growth in digital entertainment and immersive experiences.

    Looking ahead, Disney forecasts high single-digit earnings per share growth for FY25 and double-digit operating income growth in the entertainment division. However, the stock dipped 2.4 per cent  following the report, influenced by concerns over Disney+ subscriber declines.

  • Disney restructures EMEA operations; appoints Tony Chambers as region president

    Disney restructures EMEA operations; appoints Tony Chambers as region president

    Mumbai: The Walt Disney Co has announced the appointment of Tony Chambers as president, of its EMEA (Europe, Middle East, and Africa) operations, as part of a strategic restructuring of its entertainment businesses in the region. Chambers will report to Disney Entertainment co-chairmen Alan Bergman and Dana Walden, as well as ESPN chairman Jimmy Pitaro. Chambers will be vacating his current job as head of global theatrical distribution. Current EMEA president Jan Koeppen will step down in February as part of the transition.

    In the new structure, several of the company’s lines of business in the region, including direct-to-consumer, ad sales, platform distribution, networks, local original content, studio marketing, theatrical distribution and sports will now report directly in to the global business leaders of those businesses, who will have P&L oversight for their respective regional businesses in EMEA.

    The regional president – in this case,  Chambers – will continue to be the company’s representative in the region and be responsible for consolidating strategic priorities and financials and coordinating teams at the regional level, leading local initiatives that span across businesses (excluding Disney Experiences), and overseeing shared service functions including human resources, communications, and finance.

    “EMEA is a key region in terms of the success of our business globally, and as we realign our strategy for our entertainment businesses there, we are fortunate to transition between two fantastic leaders,” said Bergman, Walden, and Pitaro in a joint statement. “Tony Chambers is a seasoned senior executive who has a highly collaborative style and stellar reputation in EMEA and across the company. He brings a wealth of experience to this important new role. We look forward to continuing to accelerate our growth in EMEA and around the world, and we are immensely grateful for Jan’s exceptional contributions, which have made a meaningful and enduring difference to this team and the company during his tenure.”

    Expressing his enthusiasm for the new role, Chambers commented, “I’m truly honored to be leading the world-class EMEA team in this new capacity. It’s a dynamic region that has gone through incredible, positive change over the past several years, and I’m very eager now to build on that momentum.”

    Chambers, who is Irish, has been with Disney for over 30 years and  has had a lot of experience in the EMEA having looked after studio sales and distribution, theatrical, home entertainment in various capacities for either Europe or the region. 

    Outgoing president Jan Koeppen reflected on his tenure, saying, “I’m grateful for the incredible six years I have had at Disney, working with some of the most talented and creative people in the industry through a period of profound transformation and growth as we launched and established Disney+ in the region. I leave with a full heart and with great pride in the exceptional Disney EMEA team.”

    As Tony Chambers steps into his new role, Disney is set to announce a new global head of theatrical distribution in the near future, further strengthening its leadership team for continued growth and innovation in the region and beyond.

  • K Madhavan: From God’s own country to leading Walt Disney’s Indian mousehouse

    K Madhavan: From God’s own country to leading Walt Disney’s Indian mousehouse

    MUMBAI: When The Walt Disney Co international operations and direct-to-consumer chairman Rebecca Campbell was scouting for an executive to fill the big shoes of former Star India, Disney India and APAC head Uday Shankar, she did not have to look far. Though the announcement took some time a-coming, K Madhavan, country manager of Star & Disney India, was the obvious choice. As the overseer of the media conglomerate’s television and studios business in India, Madhavan had worked closely with Uday, until the latter departed in late 2020 to concentrate on an entrepreneurial venture with his former boss James Murdoch.

    An unassuming executive from Kerala, K Madhavan is known to be a hard core numbers man with an extremely razor sharp financial mind. He did well in academia as well; he holds a post graduate degree in commerce, and is a certified associate of the Indian Institute of Bankers. He cut his teeth as an investment banker, when he was roped in as a director to help turn around ailing Malayalam network Asianet in 1999. Within a year, he fortified his position and was elevated to MD & CEO of Asianet Communications.

    His keen understanding of what Malayalam viewers want to watch facilitated the growth of Asianet’s viewership and made it the favourite of those who live in God’s own country. The network was turned around and it soon became a dominant player in Kerala. He did this even as ownership of the network changed hands, more than once – from promoter Reji Menon to the-then BPL and now BJP top shot and venture financier Rajeev Chandrasekhar. In fact, K Madhavan, ended up owning a tidy piece of it as well, as he grew the network’s footprint in Kannada in concert with Chandrashekar as chairman.  

    Until, of course, it landed in the hands of News Corp supremo Rupert Murdoch’s Star TV in 2008. Star acquired a majority stake in Asianet’s general entertainment channels (separated from the news business) for a handsome $235 million and an assumption of $20 million in debt. Madhavan pocketed a neat sum for his efforts even as he was appointed as Star India’s south head in 2009.

    From thereon, there was no looking back. When Star India took control of Asianet, its portfolio consisted of Asianet and Asianet Plus (Malayalam GECs), Asianet Suvarna (a Kannada GEC) and Telugu channel Sitara. To that was added Star Vijay from the Star India network. Several other channels followed: Asianet Movies, Star Maa (through an acquisition of MAA Television network). Today, it has more than 13 pure play southern language channels, covering general entertainment, movies, in Malayalam, Kannada, Tamil and Telugu. Of course, Star India itself has many other regional language channels covering Marathi and Bengali. At the helm of this dizzying growth was Madhavan with Uday, and the Murdochs giving him total freedom. Observers today value the southern language business of Star at around $3 billion (valued at $1.33 billion in 2013 at the time of its acquisition by Star).

    When The Walt Disney Co acquired Twenty First Century Fox a couple of years ago for a massive $72 billion, along with it came all of its Indian assets including the southern language business. Uday, used to working in the maverick style of the Murdochs, quickly had K Madhavan hoicked as country manager of Star & Disney India, leading the media conglomerate’s television and studios business, while he was bumped upstairs to look after the APAC business and Hotstar directly.

    When Uday decided to turn entrepreneur in 2020, day to day operations were left in the hands of K Madhavan, who worked closely with Campbell at the worst of times when the media and entertainment industry – and  Star and Disney India – had to face lockdowns courtesy the pandemic and an acceleration towards digital video consumption. The way he steered the company impressed the Disney headquarters in Burbank.

    “A skilled leader with an extensive background in media, KM has taken our vast Star networks and local content production businesses to new heights,” said Campbell on his elevation. “I have seen first-hand how he has adeptly managed our India business, which has been and will continue to be critical to our global and regional strategy.”

    With the leadership issue for Star India and Disney India settled, it should lead to some clarity on the road ahead for the company which did an estimated top line in excess of $1.7 billion last year. K Madhavan will now be able to steer the network and make it future ready in a country where many homes have antiquated CRT TV sets, many have yet to buy one, while a small fraction have high-end 4K sets even as some are graduating to HD, and the young are increasingly consuming video content on their handsets.

    Like Uday, he has the respect and attention of Burbank, Disney's and Star India's senior leadership who hold his strategic decision making and vision for the group in high regard. Like Uday, he has an entrepreneural streak, combined with a strong systems approach which should bode well for him in an organisation which thrives because of its processes-driven environment. And of course his deep understanding of what the Indian video viewing consumer wants to watch. His success at Asianet bears testimony to that. The only difference: the canvas is larger and wider now and covers a swathe of demographics, languages and platforms, right from TV to movies to digital.

    To his advantage, K Madhavan has the track record and the wherewithal to take the right steps. After all, not every executive can make the transition from heading a small network in God’s own country to leading India’s largest media and entertainment network.

  • Walt Disney Co witnesses slow recovery in Q4

    Walt Disney Co witnesses slow recovery in Q4

    NEW DELHI: The Walt Disney Company reported total revenue of $14,707 million in Q4, witnessing a decline of 23 per cent year-on-year (y-o-y). While parks, entertainment, products, studio entertainment business continued to register a dip, direct-to-consumer & international and media revenue saw an upsurge.

    The media revenues for the quarter stood at $7213 million, up 11 per cent year on year. The d2c & international revenue stood at $4853 million for the quarter and witnessed an upsurge of 41 per cent y-o-y. 

    Diluted earnings per share (EPS) from continuing operations for the fourth quarter was a loss of $0.39 compared to income of $0.43 in the prior-year quarter. Excluding  certain items affecting comparability, diluted EPS for the quarter was a loss of $0.20 compared to  income of $1.07 in the prior-year quarter. EPS from continuing operations for the year was a loss of $1.57 compared to income of $6.26 in the prior year. Excluding certain items affecting comparability, EPS for  the year decreased to $2.02 from $5.76 in the prior year. 

    The most significant adverse impact in the current quarter and year from Covid2019 was approximately $2.4 billion and $6.9 billion, respectively, on operating income at parks, experiences and products segment due to revenue lost as a result of the closures or reduced operating capacities. 

    Media Networks revenues for the quarter increased 11 per cent to $7.2 billion, and segment operating  income increased 5 per cent to $1.9 billion. 

    Cable Networks revenues for the quarter increased 11 per cent to $4.7 billion and operating income  decreased 7 per cent to $1.2 billion. The decrease in operating income was due to lower results at ESPN,  partially offset by increases at FX Networks and the domestic Disney channels. 

    Broadcasting revenues for the quarter increased 10 per cent to $2.5 billion and operating income increased  47 per cent to $553 million. The increase in operating income was due to affiliate revenue growth and lower  network programming and production costs and decreased marketing expenses, partially offset by a timing  impact from new accounting guidance. 

    Advertising revenues were comparable to the prior-year quarter as lower average network viewership was offset by the benefit of an additional week in the current quarter, higher network rates and an increase  in political advertising at the owned television stations. 

    Parks, Experiences and Products revenues for the quarter decreased 61 per cent to $2.6 billion, and segment  operating results decreased $2.5 billion to a loss of $1.1 billion. Lower operating results for the quarter  were due to decreases at both the domestic and international parks and experiences businesses. 

    Studio Entertainment revenues for the quarter decreased 52 per cent to $1.6 billion and segment operating  income decreased 61 per cent to $419 million. The decrease in operating income was due to lower theatrical and  home entertainment results. 

    Direct-to-Consumer & international revenues for the quarter increased 41 per cent to $4.9 billion and  segment operating loss decreased from $751 million to $580 million. The decrease in operating loss was  primarily due to improved results at Hulu and ESPN+, partially offset by higher costs at Disney+, driven  by the ongoing rollout and a decrease at our international channels. 

    The improvement at Hulu was due to subscriber growth and increased advertising revenues driven by  higher impressions, partially offset by an increase in programming and production costs due to higher  subscriber-based fees for programming the live television service. 

    Higher results at ESPN+ were driven by subscriber growth and higher income from Ultimate Fighting  Championship pay-per-view events. 

    The Walt Disney Co CEO Bob Chapek said, “Even with the disruption caused by Covid2019, we’ve been able to effectively manage our  businesses while also taking bold, deliberate steps to position our company for greater long-term growth. The real bright spot has been our  direct-to-consumer business, which is key to the future of our company, and on this anniversary of the  launch of Disney+ we’re pleased to report that, as of the end of the fourth quarter, the service had more  than 73 million paid subscribers – far surpassing our expectations in just its first year.” 

  • Vijay Singh quits Fox Star Studios India

    Vijay Singh quits Fox Star Studios India

    MUMBAI: Fox Star Studios chief executive officer Vijay Singh has resigned after his decade-long stint at the studio, which is going through the final phases of completing its acquisition by The Walt Disney Co.

    Though he has stepped down, he will be continuing at Fox Star Studios India for the next two or three months, helping Bikram Duggal, executive director and head – studio entertainment at The Walt Disney Company, take charge.

    Joining Fox Star Studios India in 2007, Singh went on to set up the Indian market, including the foray into Hindi films. Prior to Fox Star, he worked with The Tetley Group – Tata Global Beverages and Sony Music Entertainment India.

    According to media reports, Singh will join a foreign media technology brand which is eager to enter the Indian market.