The Walt Disney Company has once again surprised investors and analysts. Despite tremendous losses it suffered due to the closure of its amusement parks around the world, Disney managed not only to stay aloft but to show excellent results.
According to Gower Street Analytics, an analytical service company, the Walt Disney Studios became the absolute leader in terms of grosses in 2020. Clearly, it was a disastrous year for many companies. However, it was one of the most successful years for Disney. In 2020, the company earned $1.26 billion in global grosses.
The Walt Disney Studios intends to continue producing new films to viewers' delight. Currently, the film company is preparing to release ten series in the Star Wars universe. In addition, the entertainment behemoth launched the Disney streaming service which also boosted its profit margins. The platform attracted 10 million subscribers in 24 hours. The company is now preparing to launch a similar service in Australia, New Zealand, Puerto Rico, and Western Europe. Thus, the company's shares are growing on positive news.
