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Disney Streaming and Parks Shine in Fourth Quarter, but Some TV Networks, Movies Weaker

This image released by Disney shows the Silver Surfer, portrayed by Julia Garner, in a scene from "The Fantastic Four: First Steps." (Marvel/Disney via AP)
This image released by Disney shows the Silver Surfer, portrayed by Julia Garner, in a scene from "The Fantastic Four: First Steps." (Marvel/Disney via AP)
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Disney Streaming and Parks Shine in Fourth Quarter, but Some TV Networks, Movies Weaker

This image released by Disney shows the Silver Surfer, portrayed by Julia Garner, in a scene from "The Fantastic Four: First Steps." (Marvel/Disney via AP)
This image released by Disney shows the Silver Surfer, portrayed by Julia Garner, in a scene from "The Fantastic Four: First Steps." (Marvel/Disney via AP)

Disney's fourth-quarter performance was mixed as a weaker performance from its television networks and some films was buffered by strength in its streaming business and theme parks.

Disney is still trying to work out a new licensing deal with YouTube after its content went dark on YouTube TV late last month, leaving subscribers of the Google-owned live streaming platform without access to major networks like ESPN and ABC.

The Walt Disney Co. earned $1.31 billion, or 73 cents per share, for the three months ended Sept. 25. It earned $460 million, or 25 cents per share, in the prior-year period.

Stripping out one time charges and costs, earnings were $1.11 per share. That's better than the $1.03 per share that analysts polled by Zacks Investment Research predicted, The AP news reported.

Revenue for the Burbank, California, company totaled $22.46 billion, short of Wall Street’s estimate of $22.86 billion.

Revenue for Disney Entertainment, which includes the company’s movie studios and streaming service, dropped 6%, while revenue for the Experiences division, its parks, climbed 6%.

Operating income from linear networks dropped 21% and revenue slipped 16%. Disney said that the operating income decline was driven by the Star India transaction, as Star India contributed $84 million to its year-ago results. Operating income for domestic linear networks fell 7% due to lower advertising driven by declines in viewership and political advertising.

Disney said that its movie distribution results were weaker when compared with the same period last year, which was buoyed by “Deadpool & Wolverine” and spillover receipts from “Inside Out 2.” Films released during the most recent quarter included “The Fantastic Four: First Steps,” “The Roses” and "Freakier Friday."

Disney’s direct-to-consumer business, which includes Disney+ and Hulu, posted quarterly operating income of $352 million compared with $253 million a year ago. Revenue rose 8%.

The Disney+ streaming service had a 3% increase in paid subscribers domestically, which includes the U.S. and Canada. There was a 4% rise internationally, which excludes Disney+ HotStar.

Total paid subscribers for Disney+ came to 132 million subscribers, up from 128 million in the third quarter.

Disney+ and Hulu subscriptions totaled 196 million, an increase of 12.4 million from the third quarter.

The strong streaming results come shortly after the entertainment company saw Disney+ and Hulu subscription cancellations climb in September when ABC briefly cancelled “Jimmy Kimmel Live!. ”

Data from subscription analytics company Antenna showed that Disney+ and Hulu subscription cancellations rose in September when ABC briefly cancelled “Jimmy Kimmel Live!.”

Walt Disney Co. owns the streaming platforms and ABC. ABC pulled the show off the air for less than a week in September in the wake of criticism over his comments related to the killing of conservative activist Charlie Kirk.

Prior to the incident, Disney had said in August that it anticipated that total fourth-quarter Disney+ and Hulu subscriptions would increase more than 10 million compared with the third quarter, with most of the increase coming from Hulu due to the expanded Charter deal. The company had also expected a modest increase in the number of Disney+ subscribers in the fourth quarter.

Disney also previously announced that it will stop reporting the number of paid subscribers for Disney+, Hulu and ESPN+ streaming services because the metric has become less meaningful for evaluating the performance of its businesses. The company will stop reporting the metric for Disney+ and Hulu beginning with fiscal 2026’s first quarter and no longer reports the figure for ESPN+ starting with fiscal 2025’s fourth quarter.

The Experiences division, which includes Disney’s six global theme parks, its cruise line, merchandise and video game licensing, reported operating income climbed 13% to $1.88 billion. Operating income increased 9% at domestic parks. Operating income surged 25% for international parks and Experiences.

Disney maintained its forecast for double-digit adjusted earnings per share growth for fiscal 2026 and fiscal 2027.

Disney's stock fell 5% before the market open on Thursday.

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Entertainment

Britney Spears Sells Rights to Music Catalogue

FILE PHOTO: Singer Britney Spears arrives at the 2016 MTV Video Music Awards in New York, US, August 28, 2016. REUTERS/Eduardo Munoz/File Photo/File Photo
FILE PHOTO: Singer Britney Spears arrives at the 2016 MTV Video Music Awards in New York, US, August 28, 2016. REUTERS/Eduardo Munoz/File Photo/File Photo
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Britney Spears Sells Rights to Music Catalogue

FILE PHOTO: Singer Britney Spears arrives at the 2016 MTV Video Music Awards in New York, US, August 28, 2016. REUTERS/Eduardo Munoz/File Photo/File Photo
FILE PHOTO: Singer Britney Spears arrives at the 2016 MTV Video Music Awards in New York, US, August 28, 2016. REUTERS/Eduardo Munoz/File Photo/File Photo

Pop star ‌Britney Spears has sold her rights to her music catalogue to independent music publisher Primary Wave, the ​latest artist to strike a deal for her work.

Entertainment site TMZ, citing legal documents it had obtained, first reported the news, saying the "Oops!... I Did It Again" and "Toxic" singer had signed the deal on December 30.

According to Reuters, it quoted sources as saying it ‌was "in the ‌ballpark" of Canadian singer Justin ​Bieber's ‌reported $200 ⁠million ​agreement to sell ⁠his music rights to Hipgnosis in 2023.

A person familiar with the situation said news of the Spears and Primary Wave deal was accurate. No further details were given.

Primary Wave, which is home to artists ⁠including Whitney Houston, Prince and Stevie ‌Nicks, did not ‌immediately respond to a request for ​comment. Spears has ‌not commented publicly.

The 44-year-old, one of ‌the most successful pop artists of all time, has topped charts around the world, starting off with "...Baby One More Time" in 1998. The ‌deal includes her songs such as "(You Drive Me) Crazy", "Circus", "Gimme More" and "I'm a Slave ⁠4 ⁠U", TMZ said.

Spears' ninth and last studio album, "Glory", came out in 2016.

In 2021, she was released from a 13-year court-ordered conservatorship set up and controlled by her father, Jamie Spears. The arrangement had governed Spears' personal life, career and $60 million estate from 2008 until it was terminated in November 2021.

Spears follows artists such as Sting, ​Bruce Springsteen and Justin ​Timberlake who have struck deals to cash in on their work.

Entertainment

Glitzy Oscar Nominees Luncheon Back One Year After LA Fires 

Brazilian actor Wagner Moura arrives to The Hollywood Reporter's Nominees Night held at the Chateau Marmont in Los Angeles, on February 10, 2026. (AFP)
Brazilian actor Wagner Moura arrives to The Hollywood Reporter's Nominees Night held at the Chateau Marmont in Los Angeles, on February 10, 2026. (AFP)
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Glitzy Oscar Nominees Luncheon Back One Year After LA Fires 

Brazilian actor Wagner Moura arrives to The Hollywood Reporter's Nominees Night held at the Chateau Marmont in Los Angeles, on February 10, 2026. (AFP)
Brazilian actor Wagner Moura arrives to The Hollywood Reporter's Nominees Night held at the Chateau Marmont in Los Angeles, on February 10, 2026. (AFP)

Hollywood stars embraced at this year's Oscars nominee lunch, the glamorous pre-show gathering that was canceled amid last year's devastating Los Angeles wildfires.

Timothee Chalamet, nominated for best actor in "Marty Supreme," flashed a smile while fellow Best Actor contenders Micahel B. Jordan and Ethan Hawke also flitted around the annual luncheon in Beverly Hills.

Mexican director Guillermo del Toro chatted with his tablemates as Wagner Moura, the Brazilian star of "The Secret Agent," enthusiastically embraced Stellan Skarsgard and Oliver Laxe -- the latter of whom has his film "Sirat" up for best international feature film.

Academy of Motion Picture Arts and Sciences President Lynette Howell Taylor praised the diversity of this year's nominees.

"Ballots were cast from 88 countries and regions," the British producer said, adding that "the mission of the Academy is to amplify your art, movies and your voices."

The more than 200 nominees enjoyed a buzzy afternoon, all the more energetic after last year's lunch was canceled as huge fires razed whole communities around Los Angeles. That year the lunch was replaced with a smaller dinner at the Academy's museum.

"This is a recognition of Brazilian cinema, and of the cinema of our region," Moura told AFP.

Nearby, "The Secret Agent" director Kleber Mendonca Filho joked he was feeling animated -- "like a generator."

Skarsgard said that the impact of international films is growing, as evidenced by his historic nomination for Best Supporting Actor for Norwegian film "Sentimental Value."

Foreign films and their stars typically notch nominations in the international categories, but Skarsgard is competing against nominees from US blockbusters, including Benicio del Toro in "One Battle After Another" and Delroy Lindo in "Sinners."

Benicio del Toro meanwhile told AFP he was doubly thrilled after watching fellow Puerto Rican Bad Bunny perform at the Super Bowl halftime show over the weekend.

"I got goosebumps," he told AFP, adding: "It was beautiful."

The luncheon's other legendary del Toro, the director Guillermo, meanwhile said he was "calm."

While his "Frankenstein" is nominated for Best Picture, del Toro himself is off the hook for Best Director, which he said took the pressure off him and meant he could focus on promoting his team.

"I'm happy because nine nominations don't happen every day," he said.

Lanky heartthrob Jacob Elordi, up for best supporting actor, offered a similarly toned down vibe at an impromptu photo shoot.

"I'm chilling," he said. "It's all good."

Entertainment

‘Family Under Pressure’ at Berlin Film Festival

Of more than 200 films shown during the Berlin Film Festival, 22 will compete for the coveted Golden Bear. (AFP)
Of more than 200 films shown during the Berlin Film Festival, 22 will compete for the coveted Golden Bear. (AFP)
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‘Family Under Pressure’ at Berlin Film Festival

Of more than 200 films shown during the Berlin Film Festival, 22 will compete for the coveted Golden Bear. (AFP)
Of more than 200 films shown during the Berlin Film Festival, 22 will compete for the coveted Golden Bear. (AFP)

The 76th edition of the Berlin Film Festival opens on Thursday, featuring productions from over 80 countries and with German film legend Wim Wenders presiding over this year's jury.

AFP sat down with festival director Tricia Tuttle, who is in her second year at the helm, for a look-ahead at Europe's first big cinema festival of the year.

Here are five things to expect from this year's festival, which runs until February 22.

- 'Reflecting international cinema' -

Of more than 200 films shown during the10-day festival, 22 will compete for the coveted Golden Bear, which was won last year by the drama "Dreams" from Norwegian director Dag Johan Haugerud.

In assembling this year's diverse program, Tuttle said that "the guiding principle was to reflect where international cinema is right now".

She said that she had noticed "family and intimacy under pressure, questions of care, power, belonging, and the experience of living between worlds" as themes running through this year's selection.

"Many of the films look at how private lives are shaped by larger political and social forces."

The festival will also honor Malaysian actor Michelle Yeoh -- who won the best actress Oscar in 2023 for "Everything Everywhere All at Once" -- with a lifetime achievement award.

- Spotlight on women directors -

As in 2025, women directed most of the films being screened at the festival.

Among those in the official competition, nine out of 22 were directed by women, a higher proportion than at the Cannes or Venice festivals.

"One thing that is encouraging for me is the number of second and third time female film-makers who have made strong work," Tuttle said.

The opening film, "No Good Men", is itself the third feature-length film from Afghan director Shahrbanoo Sadat.

"It's about Afghan women's experience, which you wouldn't see if it wasn't for Shahrbanoo's work," Tuttle said.

Sadat fled her home country following the Taliban takeover in 2021 and now lives in Hamburg.

- American films remain elusive -

In contrast to Cannes or Venice, which regularly attract Oscar contenders, Berlin does not feature as many large-scale US productions and the sprinkle of stardust that often accompanies them.

"Some of the biggest authored films of the year, those sort of commercial-arthouse crossover films, haven't launched out of festivals this year," Tuttle noted, perhaps in a nod to titles such as "One Battle After Another", "Sinners" and "Marty Supreme".

For such films, which can easily cost more than $100 million to make, producers and distributors are increasingly keen on controlling all aspects of a film's release.

"Festivals can be busy, noisy places where you might not get the cut-through that you want," according to Tuttle -- not to mention running the risk of negative reviews from critics.

- The era of co-productions -

This year's festival will notably feature European co-productions with financing from several countries.

According to Tuttle, "there's an opportunity right now for Europe, for European producers to work together" as the industry more broadly continues to fracture.

She cites the example of Joachim Trier's "Sentimental Value", nominated for nine Oscars, which is a co-production between Norway, Denmark, France and Germany.

"Sentimental Value is a film that is made by many countries in terms of investment, but it's very much the work of an author and a really important filmmaker," said Tuttle.

- Streaming platforms almost absent -

Unlike in Venice, where three Netflix-produced films entered the official competition, the giants of the streaming world are relatively marginal in Berlin.

"There's real value to be had in theatrical exhibition, not just because there's money to be made there ... but also, for us as movie fans, it's the best way to see a film," said Tuttle.

The only Netflix film at this year's Berlinale will feature in the "Special Presentation" section -- outside of the official competition.

"Un hijo proprio" ("A Child of My Own") is a documentary-length feature telling the story of a Mexican woman who invents a pregnancy in an attempt to escape pressure from her family to have a child.