Walt Disney’s profit rises 27 percent on strength of ‘Frozen’ movie franchise
Walt Disney on Tuesday continued its red-hot earnings streak with the global success of the animated blockbuster “Frozen” and a ripple effect on sales of DVDs, music and other merchandise tied to the movie.
Second-quarter net profit rose 27 percent, to $1.9 billion, as every business segment recorded double-digit growth in earnings. Revenue increased 10 percent, to $11.6 billion. Disney’s stock rose 0.6 percent in after-hours trading to $81.48.
The success of “Frozen” demonstrates the impact that one blockbuster film can have on the entertainment conglomerate’s other businesses, including theme parks, retail stores in malls, and record and DVD sales.
The company hopes to replicate the success of “Frozen” across its stock of Disney stories and characters and through acquisition of popular entertainment brands. Its purchase of Marvel’s “Thor: The Dark World” and “Captain America: The First Avenger” helped drive profit growth for its studios division. The company plans three sequels during the next decade for the “Star Wars” series through its purchase of Lucas Films.
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WDW Parkhoppers are Parkhopper John and his wife, Parkhopper Sid and they love to share the magic of Walt Disney World. They can also be found at www.TeamParkhoppers.com, a non-profit organization that helps other non-profits raise money while also enjoying runDisney events. Living only 45 minutes from Walt Disney World, their lives are truly magical!
