Disney leak reveals Disney+ and ESPN+ revenue figures

In July, data from Disney’s internal Slack platform leaked online following a hack by a group called Nullbulge.

Thursday, the Wall Street Journal published a report based on what they found inside “ over a terabyte of data ” taken from “thousands of Slack channels.”

The information gleaned from the hacked data included revenue generated from Genie+, the premium park pass launched in 2021, information about the company’s cruises, their staff, and passengers, as well as various staff reactions to the company’s 2022 battle with Florida Gov. Ron DeSantis or his Parental Rights in Education law, known colloquially as the “Don’t Say Gay” law.

Relevant to the sports media world’s interest, the data also included insight into Disney’s streaming services, which include ESPN+.

The leaked documents also provide fresh insight into Disney’s streaming revenue. The company doesn’t disclose revenue for individual streaming services within its direct-to-consumer business, which includes Disney+, Hulu and ESPN+. Some investors have hungered for more-granular data.

Internal spreadsheets suggest that Disney+ generated more than $2.4 billion in revenue in the March quarter. That amounts to about 43% of revenue the company reports for its direct-to-consumer entertainment business, which also includes Hulu. It underscores how significant a revenue contributor Hulu is, particularly as Disney seeks to buy out Comcast’s stake in that streaming service and as the two sides spar over its value.

While it wasn’t publically known just how much of a revenue driver streaming had become for Disney, we’ve known for a while that it’s a space they and ESPN have ramped up their focus on significantly. Given the numbers reportedly at play, we understand.

“We decline to comment on unverified information The Wall Street Journal has purportedly obtained as a result of a bad actor’s illegal activity,” a Disney spokesman told the outlet.

In August, Disney revealed that its streaming arm had turned a profit for the first time , one quarter ahead of its target. ESPN+ delivered $66 million in profit that quarter, offsetting a $19 million loss from Disney’s other streaming properties and leading to a $47 million overall profit for the department.

They also raised the price of all their streaming service packages in August.

The company has plans to launch an ESPN tile on Disney+. After that, they expect ESPN’s DTC service to launch in 2025 . Meanwhile, Venu Sports was supposed to be live by now but is currently dealing with an injunction .

All of which is to say that we knew just how important streaming was to ESPN before the data leak. Armed with the information, we get a good sense of how truly critical the success of these streamers must be internally.

[ Wall Street Journal ]

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