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Ka-ching! Disney Turns Streaming Profit For First Time And Ahead Of Schedule
Disney beat its own target for streaming profits which came a quarter early and for the first time. 'Inside Out 2' helped triple entertainment income.
The blockbuster opened June 14 for an explosive last two weeks of the quarter and the Pixar pic, now the top-grossing animated film of all time, has $1.56 billion in worldwide box office. Inside Out 2 boosted content and licensing profits, which helped triple earnings at the entertainment segment – to $1.2 billion from $408 million — and showcased the studio’s renewed creative strength that CEO Bob Iger has been promising. “This was a strong quarter for Disney, driven by excellent results in our entertainment segment, both at the box office and DTC, as we achieved profitability across our combined streaming for the first time, and ahead of our previous guidance,” Iger said in a statement.
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