Walt Disney's 2024 Net Sales Breakdown by Activity: Entertainment, Theme Parks, and Sport

Disney's net sales break down into three segments: entertainment and audiovisual production (44.3%), operation of theme parks and hotel resorts (33.9%), and production and distribution of TV and video streaming programs focusing on sport (19%). The company operates 13 theme parks in the US, France, Japan, Hong Kong, and China, as well as Disney Cruise Line, Disney Vacation Club, and Adventures By Disney.

Walt Disney Co. has received a significant boost from analyst firm Jefferies, which has upgraded the stock to "buy" and raised its price target to $144 from $100 [1]. The upgrade is driven by positive performances across Disney's entertainment business, including its cruise line, theme parks, and streaming services.

Jefferies analyst James Heaney cited the future performance of Disney's cruise business and a limited risk of a parks slowdown as key factors behind the bullish outlook. The analyst expects a Disney launch of two ships in the first quarter of 2026 to drive an estimated $1 billion to $1.5 billion run-rate in incremental revenue. Additionally, incremental data on Disney World trends support recent comments from the company on forward bookings, which are up 4% and 7% in the third and fourth quarters, respectively, for fiscal year 2025 [1].

The analyst also expects continued margin expansion from Disney's direct-to-consumer business, which encompasses streaming services Disney+ and Hulu. The recent success of films like "Moana 2," "Lilo and Stitch," and "Andor," as well as shows like "The Bear" on Hulu, further supports this optimism [1].

Disney's stock has been on a strong run, climbing 1.6% in morning trading and rallying 5.7% over a six-session win streak, trading at the highest prices since August 2022 [1]. The company's theme parks have shown strong attendance, and its streaming services have seen growth in profit, as highlighted by a recent upgrade from analyst firm Redburn Atlantic [1].

With 13 theme parks worldwide and a robust presence in the streaming market, Disney is well-positioned for growth. The company's net sales break down into three segments: entertainment and audiovisual production (44.3%), operation of theme parks and hotel resorts (33.9%), and production and distribution of TV and video streaming programs focusing on sports (19%) [2].

References:
[1] https://www.marketwatch.com/story/disney-is-cruising-to-a-bright-future-so-analyst-says-buy-the-stock-61fdd5bc
[2] https://agoodmovietowatch.com/cord-cutting/best-streaming-bundles-with-hulu/