Disney had previously announced a live-action version of the animated musical film Moana (2016), starring Dwayne ‘The Rock’ Johnson, set for release in June 2025. However, the announcement of a sequel, Moana 2, came as a surprise. Originally developed as a TV series, the company’s impressive findings led to the decision for a theatrical release, set for November 27, according to Disney’s CEO, Bob Iger.
Moana 2 will embark on a “grand new journey with Moana, Maui, and a brand new crew of unlikely sailors,” as per Disney’s description. Moana is compelled to venture into the distant and dangerous seas of Oceania and long-lost waters after receiving an unexpected call from her guiding ancestors.
Dave Derrick Jr, who worked as a storyboard artist on the original film, will direct Moana 2. The songs are penned by an impressive line-up, including Abigail Barlow, Emily Bear, Opetaia Foa’i, and Mark Mancina.
Iger also revealed Disney+’s acquisition of streaming rights for Taylor Swift: The Eras Tour. The concert film will be available on the platform from March 15, featuring five additional songs not included in the theatrical and video-on-demand versions.
Gaming
Disney plans to invest $1.5 billion in Fortnite developer Epic Games, marking the entertainment company’s most significant entry into the gaming world, according to Iger. This move “offers significant opportunities for growth and expansion,” he added.
In partnership with Epic Games, Disney aims to create a “vast Disney universe.” This online world will allow consumers to play, watch, shop, and interact with characters and stories from Disney, Pixar, Marvel, Star Wars, and Avatar.
This announcement signifies a renewed venture into interactive entertainment for Disney, following the closure of its Disney Interactive Studios, the publisher of the game series Infinity, in 2016. Subsequently, the company decided to license its characters to third-party game companies.
In an unexpected turn of events, it was also announced that Disney’s subsidiary ESPN will launch a joint streaming platform for sports in collaboration with Fox and Warner Bros Discovery. This is a noteworthy partnership considering that these companies are generally competitors.
More income from amusement parks
In the past quarter, Disney’s turnover was almost equal to the same period in 2022, totaling $23.5 billion, approximately 22 billion euros.
Over $9.1 billion came from Walt Disney’s theme parks, a 7% increase from the previous year. The strongest revenue increase was seen in theme parks outside North America, with sales increasing by 35% to nearly $1.5 billion.
For instance, Disney’s resort in Shanghai saw an increase in visitors, being open for a full quarter for the first time since the lifting of strict corona measures in China. Increased ticket prices contributed to the rise in turnover at the Hong Kong Disneyland Resort. The results for Disneyland Paris were comparable to the previous year, as per the company’s report.
In terms of its streaming service, both in North America and abroad, Disney saw a slight decrease of 1% in the number of subscribers year-on-year. The revenue generated by these subscribers also dipped, to less than $6 per subscriber, which Disney attributes partly to offers.
“Our strong performance last quarter demonstrates that we have turned the corner and entered a new era for our company, focused on strengthening ESPN for the future, building streaming into a profitable growth business, reinvigorating our movie studios and turbocharging growth in our parks,” Disney CEO Bob Iger said in a statement accompanying the results.
