Thakur
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BENGALURU: The Walt Disney
Company Inc (Disney) reported15.1
per cent growth in operating income (Op Inc) in the quarter
ended 28 June 2014 (Q3-2014)
to $3857 million as compared to
$3351 million reported in the year
ago quarter ended 29 June 2014 (Q3-2014).
The company reported 7.7 per cent rise in all
revenues to $12466 million in Q3-2014 from
$11578 million in Q3-2013.
Five segments contribute to Disney’s numbers –
Media Networks; Parks and resorts; Studio
entertainment; Consumer products; and
Interactive.
Media Networks
The company’s Media Network segment is the
largest in terms of contribution to overall
revenue and Op Inc. This segment consists of
two sub-segments – Cable Networks and
Broadcasting.
Disney’s Media Network segment reported 3
per cent rise in revenue from $5352 million
(46.2 per cent of all revenues) in Q1-2013 to
$5511 million (44.2 per cent of all revenues)
in Q1-2014. Op Inc dropped marginally by 0.2
per cent from $2300 million (68.6 per cent of
overall Op Inc) in Q1-2013 to $2296 million
(59.5 per cent of overall Op Inc) in Q3-2014.
Despite a 1.5 per cent increase in its revenues
in Q3-2014 at $3,942 million from $3884
million in Q3-2013, the Cable Networks sub-
segment reported 6.9 per cent lower Op Inc at
$1942 from $2087 in Q3-2013. Broadcasting
reported 6.9 per cent growth in revenue from
$1468 million in Q3-2013 to $1,569 million in
Q3-2014. The sub-segment’s Op Inc increased
66.2 per cent to $345 million in Q3-2014
from $213 million in the year ago quarter.
Breaking the revenues of the Media networks
segment to Affiliate fees, advertising and other,
Affiliate fees registered 1.2 per cent increase
to $2845 million in the current quarter from
$2810 million in Q3-2013. The segment’s
advertising revenue in Q3-2014 went up 5.2
per cent to $2142 million from $2047 million
in Q3-2013. ‘Other’ revenue in the current
quarter went up to $525 million from $504
million reported in Q3-2013.
Explaining the breakup of revenues from the
Media network’s segment, Disney says the 1.2
per cent increase in Affiliate Fee revenue was
primarily due to increases of 6 per cent from
higher contractual rates, partially offset by
decreases of 3 per cent from lower recognition
of previously deferred revenue at ESPN as a
result of changes in contractual provisions
related to annual programming commitments
and 2 per cent due to the sale of its ESPN UK
business in the fourth quarter of the prior
year. During the quarter, ESPN recognised
$176 million of previously deferred revenue
compared to $274 million in Q3-2013.
The 5.2 increase in advertising revenues was
due to increases of $86 million at Cable
Networks, from $1,001 million to $1,087
million, and $19 million at Broadcasting, from
$1,036 million to $1,055 million. The increase
at Cable Networks was driven by a 6 per cent
increase from higher rates and a 3 per cent
increase from more units sold, partially offset
by a 1 per cent decrease due to lower ratings.
The increase at Broadcasting reflected a 4 per
cent increase from higher primetime and news
ratings and a 1 per cent increase due to higher
primetime rates, partially offset by a 4 per
cent decrease due to fewer units sold.
The increase in other revenue was driven by
higher programme sales led by Devious Maids
and Marvel's Agents of S.H.I.E.L.D., partially
offset by lower sales of Army Wives http://www.indiantelevision.com/node/1553222
Company Inc (Disney) reported15.1
per cent growth in operating income (Op Inc) in the quarter
ended 28 June 2014 (Q3-2014)
to $3857 million as compared to
$3351 million reported in the year
ago quarter ended 29 June 2014 (Q3-2014).
The company reported 7.7 per cent rise in all
revenues to $12466 million in Q3-2014 from
$11578 million in Q3-2013.
Five segments contribute to Disney’s numbers –
Media Networks; Parks and resorts; Studio
entertainment; Consumer products; and
Interactive.
Media Networks
The company’s Media Network segment is the
largest in terms of contribution to overall
revenue and Op Inc. This segment consists of
two sub-segments – Cable Networks and
Broadcasting.
Disney’s Media Network segment reported 3
per cent rise in revenue from $5352 million
(46.2 per cent of all revenues) in Q1-2013 to
$5511 million (44.2 per cent of all revenues)
in Q1-2014. Op Inc dropped marginally by 0.2
per cent from $2300 million (68.6 per cent of
overall Op Inc) in Q1-2013 to $2296 million
(59.5 per cent of overall Op Inc) in Q3-2014.
Despite a 1.5 per cent increase in its revenues
in Q3-2014 at $3,942 million from $3884
million in Q3-2013, the Cable Networks sub-
segment reported 6.9 per cent lower Op Inc at
$1942 from $2087 in Q3-2013. Broadcasting
reported 6.9 per cent growth in revenue from
$1468 million in Q3-2013 to $1,569 million in
Q3-2014. The sub-segment’s Op Inc increased
66.2 per cent to $345 million in Q3-2014
from $213 million in the year ago quarter.
Breaking the revenues of the Media networks
segment to Affiliate fees, advertising and other,
Affiliate fees registered 1.2 per cent increase
to $2845 million in the current quarter from
$2810 million in Q3-2013. The segment’s
advertising revenue in Q3-2014 went up 5.2
per cent to $2142 million from $2047 million
in Q3-2013. ‘Other’ revenue in the current
quarter went up to $525 million from $504
million reported in Q3-2013.
Explaining the breakup of revenues from the
Media network’s segment, Disney says the 1.2
per cent increase in Affiliate Fee revenue was
primarily due to increases of 6 per cent from
higher contractual rates, partially offset by
decreases of 3 per cent from lower recognition
of previously deferred revenue at ESPN as a
result of changes in contractual provisions
related to annual programming commitments
and 2 per cent due to the sale of its ESPN UK
business in the fourth quarter of the prior
year. During the quarter, ESPN recognised
$176 million of previously deferred revenue
compared to $274 million in Q3-2013.
The 5.2 increase in advertising revenues was
due to increases of $86 million at Cable
Networks, from $1,001 million to $1,087
million, and $19 million at Broadcasting, from
$1,036 million to $1,055 million. The increase
at Cable Networks was driven by a 6 per cent
increase from higher rates and a 3 per cent
increase from more units sold, partially offset
by a 1 per cent decrease due to lower ratings.
The increase at Broadcasting reflected a 4 per
cent increase from higher primetime and news
ratings and a 1 per cent increase due to higher
primetime rates, partially offset by a 4 per
cent decrease due to fewer units sold.
The increase in other revenue was driven by
higher programme sales led by Devious Maids
and Marvel's Agents of S.H.I.E.L.D., partially
offset by lower sales of Army Wives http://www.indiantelevision.com/node/1553222
