It’s time to celebrate in Burbank, at least for a day. Disney stock jumped following an earnings call that may have missed revenue expectations but was a success thanks to remarks from executives and new partnerships. The stock was up more than 12% early this afternoon.
Perhaps the biggest news of the earnings call was from the renamed Disney Experiences division (previously Parks, Experiences, and Products). Disney announced a $1.5 billion investment in Epic Games where Disney plans to create a virtual Disney world.
Other big news included the announcement that Taylor Swift’s The Eras Tour (Taylor’s Version) concert film will be exclusively available to stream on Disney+ starting March 15th. The film will contain new songs not heard during the theater release of the film last year.
Disney also announced that they will be sending a Moana sequel to theaters later this year instead of debuting it as a Disney+ streaming series. Speaking of streaming, Disney says that they have increased operating income within the segment by 86% and still plan on becoming profitable by this Fall.
The stock jump comes as Iger & company face down a proxy battle that will come to a head at the Annual Meeting of Shareholders on April 3rd, where multiple outside parties are seeking seats on the Disney Board of Directors.
As always, keep checking back with us here at BlogMickey.com as we continue to bring you the latest news, photos, and info from around the Disney Parks!