NEW YORK, December 31, 2025, 19:42 ET — After-hours
Disney stock fell $1.01, or 0.9%, to $113.77 in late after-hours trading on Wednesday. After-hours is the session after the 4 p.m. ET close.
The move kept the focus on a federal settlement over children’s privacy rules for Disney’s YouTube video content, alongside a fresh box-office milestone for the company’s animation studio.
U.S. stocks ended the final trading day of 2025 lower, and trading was light in the holiday-shortened week, Reuters reported. “I do not expect that the last few days will have so much bearing on the performance of the next year,” said Giuseppe Sette, co-founder and president of Reflexivity. U.S. markets are closed on Thursday for New Year’s Day. 1
The U.S. Justice Department said a federal court entered an order requiring Disney to pay $10 million in civil penalties after the Federal Trade Commission alleged violations tied to Disney’s popular YouTube video content. The rule at issue, known as COPPA, prohibits collecting personal information from children under 13 without parental notice and consent. The government said the order also requires Disney to create a program to ensure it complies with COPPA on YouTube going forward.
For investors, the case highlights how children’s data rules can create legal and reputational risk for media companies that monetize content on third-party platforms such as YouTube, owned by Alphabet.
Separately, Disney said Walt Disney Animation Studios’ “Zootopia 2” surpassed 2019’s “Frozen 2” to become the studio’s highest-grossing film ever, with about $1.46 billion in global ticket sales. Reuters reported the sequel has grossed more than $560 million in China. 2
A strong theatrical run can lift more than studio revenue, feeding licensing and merchandise that extend a franchise’s value across Disney’s ecosystem.
Movie wins, however, rarely drive the stock on their own unless they signal a sustained improvement in the content slate. Traders tend to focus on cash generation from parks and the trajectory of streaming margins.
At Disney’s last quarterly report in November, the company pointed to progress in its streaming business and strength in parks, while warning that pressure in traditional TV distribution remains a key issue for investors. 3
That leaves Disney’s 2026 debate intact: whether its streaming operations can keep expanding profits as linear TV declines, without forcing sharper trade-offs on content spending.
The next major catalyst is earnings. Nasdaq’s calendar lists Disney’s next report date as an estimate for Feb. 4, and investors will be watching for updates on streaming profitability, parks demand and the film slate. 4
With U.S. markets reopening on Friday, Disney’s next move will come as liquidity returns after the holiday break and investors reset positions for early January.
