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Disney Unveils Financial Data for DTC Unit, Sets April 11 for Investor Presentation

Disney has rejiggered its business segments for earnings reporting to make room for the new unit housing its global streaming operations.

Disney on Friday released restated earnings for fiscal 2018, 2017 and 2016 to give investors and financial analysts better visibility into its spending on the launch of the Disney Plus, ESPN Plus and other ventures.

Disney created the Direct-to-Consumer and International division last March, but its financials will be reported as a separate unit for the first time on Feb. 5, when Disney releases its fiscal 2019 first quarter numbers.

Disney also set April 11 as the date for its presentation to investors on the details of how much it expects to invest in its streaming operations and how it will adjust to relying on subscription revenue rather than third-party licensing deals for the content that will be carried by Disney Plus.

The DTC and International division headed by chairman Kevin Mayer houses the streaming operations as well as Disney’s ESPN- and Disney-branded channels outside the U.S. It also encompasses all of Disney’s advertising sales operations for ABC, ESPN, Freeform and Disney cablers as well as Disney’s global content sales and distribution arm, headed by Janice Marinelli, and Disney’s investments in Hulu and Vice. The international TV, ad sales and content distribution assets were relocated from Disney’s Media Networks division as part of the creation of the DTC unit.

Disney disclosed Friday that the DTC and International segment would have reported revenue of $3.4 billion and a loss of $738 million in operating income for the fiscal year 2018 ended Sept. 30.

As previously announced, Disney starting next month will also combine the financials for its Parks and Resorts division with its Consumer Products wing. The two units were consolidated last March along with Disney Interactive into the Parks, Experiences and Consumer Products segments, headed by Bob Chapek.

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