Fast Money Blog- 2/12/21

Clearly we are living in a Walt Disney world.

On Thursday, Feb. 11th The Walt Disney Company (DIS) shocked Wall Street with amazing Q1 2021 revenue during a world-wide pandemic.

The company posted top-line revenue of $16.2 billion.

Disney said it now has almost 95 million paid subscribers to its Disney+ streaming service. One of Disney’s other streaming services, Hulu, saw a growth of 30% from the previous quarter for those using its live TV service.

The revenue for Disney’s direct-to-consumer business grew 73% compared with the same quarter the previous year, to $3.5 billion. This revenue helped to offset losses in other segments affected by the pandemic. In total Disney now has more than 146 million total paid subscribers across its streaming services.

So here’s what is interesting about the Disney Story:

Because of Covid, revenue at Disney’s parks, experiences and products segment fell 53% to $3.58 billion. However the company was still able to post a profit due to the overwhelming growth in their direct-to-consumer business.

Here’s yet another fact that is remarkable about Disney: In terms of subscription growth, it took Disney 14 months to get to 95 million subscribers, while it took Netflix, Inc. 9 years to achieve the same feat.

Disney is a great date and a long-term hold as the stock price will be climbing even higher over the next 36 months. Make sure you own shares!

Stay open. Stay positive.

Tyrone Jackson

The Wealthy Investor