The company's studio entertainment revenue showed impressive revenue gain, up 33 percent to $3.8 billion due to 'Avengers: Endgame,' 'Captain Marvel' and 'Toy Story 4.'
Disney shares were falling more than 4 percent after the closing bell on Tuesday after the entertainment giant's quarterly earnings fell short of expectations.
The company's studio entertainment revenue showed impressive revenue gain, up 33 percent to $3.8 billion due toIger noted that Disney has already set an annual box-office record with five months remaining and releases such asstill to come this year. The film studio is "the envy of the industry," he said Tuesday.
Disney's direct-to-consumer segment showed a $553 million loss, up from $168 million in the same quarter last year, as it gets ready to launch Disney+ in November. That product, expected to heavily feature Marvel, Pixar and Star Wars content, will compete with Netflix, Amazon Prime Video, CBS All Access and other streamers.
Also on Tuesday, Disney said it will bundle Disney+, ESPN+ and Hulu's basic tier for $12.99 monthly, while it had previously disclosed that Disney+ alone will cost $.6.99 per month.
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