Disney Interactive Losses Improve Due to Social Games
Disney Interactive Media announced their revenues have increased by 13% from the previous quarter, crediting the increased focus on social games and the cheaper cost of developing console games for the improvement. However, the company still recorded a $70 million loss in the second quarter, albeit a much “cheaper” loss than the $115 million they lost in the first quarter.
Disney released a press release detailing their second quarter earnings, and said:
Social game results were driven by lower acquisition accounting impacts which had a higher adverse impact on the prior-year quarter and improved title performance in the current quarter.
Finally, although Disney Interactive said that console sales improved due to the lowered cost of development, they were also hurt because there weren’t as many console games purchased or new titles released in the second quarter.