Disney shares rise after reporting 73 million paid Disney+ subscribers, losses not as drastic as expected
Disney reported strong growth in streaming service subscribers in its fourth quarter earnings report Thursday. The company exceeded expectations on revenue and showed less drastic losses than anticipated. Loss per share: 20 cents, vs 71 cents expected, according to Refinitiv survey of analysts20 cents, vs 71 cents expected, according to Refinitiv survey of analysts Revenue: $14.71 billion, vs $14.20 billion expected, according to Refinitiv Disney said its streaming service, Disney+, now has more than 73 million paid subscribers as of the end of the fourth quarter. The Covid-19 pandemic has most significantly impacted Disney's parks division due to local restrictions that have forced temporary closures or limited capacity. Disney estimated that the net adverse impact of Covid-19 on the parks division operating income was about $2.4 billion in the fourth quarter.cnbc.com
AMC, Universal agree to shrink theatrical window to 17 days
NEW YORK In a sign of how the pandemic is remaking Hollywood traditions, AMC Theatres and Universal Studios on Tuesday announced an agreement to shorten the exclusive theatrical window to just 17 days for the studio's films. The standard window of theatrical exclusivity typically runs about 90 days. The shortened window only applies to premium video-on-demand which often means digital rentals of $20 not standard on-demand or other home platforms. The deal repairs a rift between AMC, the world's largest theater chain, and Universal, which is owned by Comcast Corp. The theatrical experience continues to be the cornerstone of our business," said Donna Langley, chairman of Universal Filmed Entertainment Group.
States jockey to host Trump as he accepts GOP nomination
The Universal Studios theme park reopened today for season pass holders and will open to the general public on Friday. (AP Photo/John Raoux)WASHINGTON Several states are vying to host President Donald Trump when he accepts his partys nomination later this year, after Trump officially pulled the plug on North Carolina because of the state's concerns over the coronavirus. But Trump has made clear that he will not be accepting the nomination in Charlotte and will be holding his made-for-TV event somewhere else. Meanwhile, Florida's Republican Party said its state is ready to roll out the red carpet for the delegates who will formally nominate Trump. During a news conference in Orlando, Gov.
Sneak peek: Harry Potter's Diagon Alley
Sneak peek: Harry Potter's Diagon Alley Diagon Alley, the first place Harry Potter visited in the "wizarding world," is weeks away from opening at Universal Studios in Orlando, Florida. A few lucky diehard fans got a chance to see the attraction before anyone else. Amaka Ubaka reports.cbsnews.com