Disney results get box office boost
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Incredibles 2 and Ant-Man and the Wasp boosted Disney’s results
Walt Disney saw higher profits and revenue in the most recent quarter, boosted by blockbusters Incredibles 2 and Ant-Man and the Wasp.
Revenues in the media company’s studio division jumped 50% in the three months to 29 September to $2.15bn (£1.6bn).
The gain lifted the firm’s total revenues to $14.3bn, up 12% year-on-year, while profits rose 33%.
The box office success provided a boost to the company as it shifts its focus to online streaming.
The firm has already launched a sports-focused online streaming site, and is planning a family-oriented one dubbed Disney Plus, to launch in 2019.
The move comes amid declines in television advertising and increased competition from digital giants such as Netflix and Amazon.
