Walt Disney (DIS) revenue breakdown
By segment, Entertainment Segment is the largest at 44% of fiscal 2025 revenue; Experiences Segment grew fastest, 6% a year over 7 years.
By product, Subscription and affiliate fees is the largest at 40% of fiscal 2025 revenue; Theme park admissions grew fastest, 7% a year over 7 years.
Revenue by segment
Fiscal years, as Walt Disney reports them in its 10-K filings; fiscal 2025 total $96.3B.
| Segments | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|
| Entertainment Segment | — | — | — | $36.5B | $39.6B | $40.6B | $41.2B | $42.5B | 44% |
| Experiences Segment | $24.7B | $26.8B | $17.0B | $16.0B | $28.1B | $32.5B | $34.2B | $36.2B | 38% |
| Sports Segment | — | — | — | $16.0B | $17.3B | $17.1B | $17.6B | $17.7B | 18% |
| Disney Media and Entertainment Distribution | — | $42.8B | $48.4B | — | — | — | — | — | — |
| Media Networks | $21.9B | — | — | — | — | — | — | — | — |
| Studio Entertainment | $10.1B | — | — | — | — | — | — | — | — |
| Direct-to-Consumer & International | $3.4B | — | — | — | — | — | — | — | — |
| Eliminations | -$668M | — | — | — | — | — | — | — | — |
| Content License Segment Adjustment | — | — | — | — | -$1.0B | — | — | — | — |
| Segment Eliminations | — | — | — | -$992M | -$1.2B | -$1.4B | -$1.6B | -$1.9B | -2% |
Revenue by product
Fiscal years, as Walt Disney reports them in its 10-K filings; fiscal 2025 total $94.4B.
| Products | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|
| Subscription and affiliate fees | — | — | — | — | — | $34.8B | $36.6B | $37.8B | 40% |
| Theme park admissions | $7.2B | $7.5B | $4.0B | $3.8B | $8.6B | $10.4B | $11.2B | $11.7B | 12% |
| Advertising | $7.9B | $10.5B | $10.9B | $12.4B | $13.0B | $11.5B | $11.9B | $11.1B | 12% |
| Retail and wholesale sales of merchandise, food and beverage | $7.4B | $7.7B | $5.0B | $5.0B | $7.8B | $8.9B | $9.2B | $9.6B | 10% |
| Resort and vacations | $5.9B | $6.3B | $3.4B | $2.7B | $6.4B | $7.9B | $8.4B | $9.2B | 10% |
| Other | $3.5B | $3.9B | $3.1B | $3.1B | $4.2B | $5.0B | $4.8B | $4.7B | 5% |
| Merchandise licensing | $3.2B | $3.4B | $3.2B | $3.6B | $4.0B | $3.1B | $3.8B | $3.9B | 4% |
| TV/VOD and home entertainment distribution | — | — | — | — | — | $3.9B | $3.4B | $3.8B | 4% |
| Theatrical distribution licensing | $4.3B | $4.7B | $2.1B | $920M | $1.9B | $3.2B | $2.3B | $2.6B | 3% |
| Affiliate fees | $13.3B | $15.9B | $17.9B | $17.8B | $17.5B | — | — | — | — |
| Subscription fees | $168M | $2.1B | $7.6B | $12.0B | $15.3B | — | — | — | — |
| TV/VOD distribution licensing | $4.9B | $5.6B | $6.3B | $4.8B | $2.9B | — | — | — | — |
| Home entertainment | $1.8B | $2.0B | $1.8B | $1.3B | $1.1B | — | — | — | — |
Revenue by region
Fiscal years, as Walt Disney reports them in its 10-K filings; fiscal 2025 total $94.4B.
| Regions | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|
| Americas | $46.9B | $53.8B | $52.0B | $54.2B | $68.2B | $71.2B | $72.2B | $76.4B | 81% |
| Europe | $7.0B | $8.0B | $7.3B | $6.7B | $8.7B | $9.5B | $10.3B | $11.1B | 12% |
| Asia Pacific | $5.5B | $7.8B | $6.1B | $6.6B | $6.8B | $8.2B | $8.9B | $6.9B | 7% |
| Content License Segment Adjustment | — | — | — | — | -$1.0B | — | — | — | — |
Questions
Where does Walt Disney make its money?
In fiscal 2025, by segment: Entertainment Segment $42.5B, Experiences Segment $36.2B, Sports Segment $17.7B.
From Walt Disney's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.