Walt Disney saw a 37% drop in Star India’s revenue for Q4 ending September 2024, down to $58 million from $92 million in the same period in 2023. Star India also incurred an impairment charge of $210 million for the quarter and $1.5 billion for FY24.
On 14 November, the entertainment powerhouse announced its earnings for the quarter ended September 2024 – a revenue increase of 6% compared to the same quarter last year. For the full year, it saw its revenues rise by 3% to $91.3 billion compared to $88.8 billion in 2023.
Reliance-Disney merger complete; 3 CEOs take charge
This earnings report was announced on the same day that Disney India and Reliance completed their merger to form a joint venture.
“This was a pivotal and successful year for The Walt Disney Company, and thanks to the significant progress we’ve made, we have emerged from a period of considerable challenges and disruption well positioned for growth and optimistic about our future,” said CEO Bob Iger in a statement.
The company’s entertainment direct-to-consumer (DTC) business delivered 14% ad revenue growth in Q4. However, Disney+ Hotstar, the company’s streaming service in India, saw a 26% dip in the average monthly revenue per paid subscriber in Q4 compared to Q3FY24, due to lower advertising revenue.
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