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disney

Disney Surpasses $5 Billion In Global Box Office For 2024, First Studio To Do So Since Pre-Pandemic 

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Disney has topped the box office consistently throughout 2024, both domestically and internationally. It became the first studio of 2024 to hit $2 billion at the domestic box office, and based on current estimates, Walt Disney Studios has reached $5 billion globally. 

The current worldwide estimate is $5.06 billion in earnings, and of that, $2.054 billion has come from North America and $3.006 billion from the international box office. 

Disney is expected to be the only studio to reach this box office amount in 2024. This is also the first time that any studio has surpassed $5 billion worldwide since 2019, before the pandemic. This also marks the sixth time that Disney has grossed more than $5 billion globally since 2010, according to reports from Deadline. 

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Pixar’s Inside Out 2 was one of the biggest movies to come out of Disney this year. Deadline reported that it was the number one movie of the year worldwide and the biggest animated film ever domestically, internationally, and globally, currently standing at $1.699 billion.

Marvel’s Deadpool & Wolverine gained $1.388 billion at the global box office. The film became the number one rated-R movie of all time globally based on these earnings. Moana 2, a more recent release, is estimated to make above $719 million. 

“Among other notable movies Disney has released this year are Kingdom of the Planet of the Apes ($398 million global) and surprise hit Alien: Romulus ($351 million global),” Deadline wrote. 

These earnings re-emphasize Disney as a powerhouse in the entertainment industry. Their films, across multiple branches, have long topped box office earnings throughout the 21st Century, and its $5 billion global earnings this year cement it as a studio to always be on the look out for. 

netflix

Netflix Added Millions Of Subscribers In Three Months, Projected To Double Profits

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Netflix is projected to double its profits this quarter after adding 5 million new subscribers throughout the summer. The world’s largest streaming service stated that they “delivered” on their initial plans to increase business by implementing stricter password sharing policies, adding advertisements, and investing in live television. 

The Guardian reported that new shows like ‘The Perfect Couple’ and new seasons of hits like ‘Emily in Paris’ are what specifically garnered an increase in viewership last quarter. Looking forward, the platform is hoping the newest season of ‘Squid Game,’ one of Netflix’s most popular shows of all time, will ideally bring in even more viewers by the end of the year. 

In the three months preceding September 30th, Netflix gained about 5.1 million new paying subscribers, bringing their total users to a record 282.7 million. 

Revenue for Netflix rose to $9.83 billion (15%) and net income increased to $2.36 billion (41%). 

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When compared to the rest of this year, however, subscription growth has slowed down significantly. In previous quarters this year Netflix gained 9.3 million and 8.1 million subscribers.

The company is projecting a net income of $1.85 billion during the current quarter. This is an increase of $938 million when compared to this quarter last year. 

“We’ve delivered on our plan to reaccelerate our business. As we look ahead to 2025, we’re focused on improving every aspect of our service and continuing to deliver healthy revenue and profit growth,” Netflix said in a letter to shareholders. 

In 2020 during the early months of the pandemic, Netflix experienced a rise in subscribers that lasted until 2022, when people started re-entering the world and watching television less. 

More recently, Netflix has invested in live broadcasting programs. They reached a decade-long deal with World Wrestling Entertainment (WWE) and also acquired the rights for two NFL games taking place on Christmas Day. 

Corporate Google Building

Alphabet, Google’s Parent Company, Earns $65 Billion In Revenue Thanks To Online Ads

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Google’s parent company, Alphabet, posted that they earned $65 billion in revenue during the third-quarter, exceeding Wall Street’s initial predictions and doubling their expected profits thanks to online advertisements. 

Over the last three months Alphabet’s revenue rose by 41% to $65.2 billion, marking its largest revenue figure in 14 years. Before the pandemic the corporation posted a profit of $21 billion.

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Alphabet saw its share price increase by 57% as well for the year. This makes it the best performer of all the “FAANG” companies (Facebook, Apple, Amazon, Netflix, and Google). Its advertising revenue alone rose to $53 billion, up from $37.1 billion last year. 

Revenue from Alphabet’s cloud division rose by 45% to $4.99 billion, trailing behind Amazon Web Service and Microsoft Azure. Operation losses for the sector decreased by nearly 50%, from $1.2 billion to $644 million. 

Sundar Pichai, chief executive of Alphabet and Google, said “search is the heart of what we do. This quarter’s results show how our investments there are enabling us to build more helpful products for people and our partners.”

“Google campuses and cloud services will be run on carbon-free energy by 2030, and Google’s maps function will offer drivers an eco-option to find more fuel efficient routes to destinations and a wildfire system, so that consumers can make quick and informed decisions during emergencies.”

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Chief business officer Philipp Schindler said “it’s clear that uncertainty is the new normal for the global economic outlook, as uneven access to Covid vaccines affect different countries and regions experienced rates of economic recovery. The world is in flux. When it comes to anticipating change, predicting demand and investing in innovation, businesses need as much support now as they did a year and a half ago.”

In shopping, Schindler said, “some regions were experiencing a fourfold increase in search activity. Often those searches preceded in-person visits to stores. Bricks-and-mortar isn’t dead. Instead omni-channel [shopping] is in full force.”

Alphabet also emphasized their commitment to high-quality and accurate journalism, as well as open-access to information for all. Schindler explained that within the last quarter the company has added 120 news providers to it’s 1,000 information sources on Google’s News Showcase. 

Google intends to also purchase a New York City office building for $2.1 billion in the near future, as well as another campus in Silicon Valley, as a means of motivating employees to come back to the office.