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Disney FY 2021 Home Entertainment Revenue Fell 44%

The Walt Disney Studios Home Entertainment segment generated more than $1 billion in fiscal-year 2021 (ended Oct. 2) revenue, which was down 44% from revenue of more than $1.8 billion in the prior-year period, according to the parent company’s Nov. 24 10-K filing.

Home entertainment includes revenue from the sale and licensing of movies and TV shows on DVD, Blu-ray Disc and all digital retail formats.

The decrease in home entertainment revenue was due to decreases of 36% from lower unit sales and 5% from lower average net effective pricing. New-release titles in the current year included Mulan, Raya and the Last Dragon and Black Widow, whereas the prior year included Frozen II, Star Wars: The Rise of Skywalker, The Lion King, Toy Story 4, Maleficent: Mistress of Evil, Onward, Ford v Ferrari, Aladdin and Avengers: Endgame. The decrease in average net effective pricing was due to a lower mix of new-release titles, which have a higher sales price than catalog titles.

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Home entertainment is part of Disney’s content sales/licensing business, which generates revenue from the sale of film and episodic television content in the TV/SVOD markets, distribution of films in the theatrical market, licensing of music rights, sales of tickets to stage play performances and licensing of IP for use in stage plays.

The unit reported a 33% drop in revenue to $7.34 billion, from revenue of $10.97 billion in FY 2020. Operating income plummeted 51% to $537 million, from operating income of $1.15 billion a year earlier.

Within the unit, TV/SVOD distribution revenue fell 26% to $4.2 billion, from $5.67 billion a year earlier. Theatrical distribution revenue plummeted 57% to $920 million, from $2.13 billion.

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