Disney News Today (Dec. 6, 2025): Q4 Earnings, Zootopia 2 Box Office, Disney+ Growth and DIS Stock Forecast

Updated: December 6, 2025

The Walt Disney Company has closed out its 2025 fiscal year with a potent mix of streaming momentum, record-breaking box office, an aggressive theme-park expansion pipeline, and an approaching CEO succession decision. On top of that, new technology bets — from AI-generated video to electric air taxis serving Walt Disney World’s home airport — are reshaping the company’s ecosystem.

This deep-dive rounds up all the latest Disney news, forecasts, and analysis as of December 6, 2025, across financials, streaming, parks, leadership, and DIS stock.

Key Takeaways at a Glance

Revenue and earnings are up: Disney generated about $94.4 billion in revenue in fiscal 2025, roughly 3% higher than last year, while net income surged to about $12 billion, up close to 150%. ^[1]
Streaming is now profitable: The Direct‑to‑Consumer (DTC) segment delivered roughly $1.3 billion in operating income for 2025, with Q4 DTC profit up about 39% year‑over‑year to $352 million. ^[2]
Subscriber base keeps growing: By the end of Q4, Disney reported 196 million combined Disney+ and Hulu subscriptions, including about 132 million Disney+ subs and 64 million Hulu subs. ^[3]
Q4 streaming surge: In the September quarter, Disney+ added 3.8 million subscribers and Hulu added 8.6 million, helped by new content, a broader Charter distribution deal, and promotional bundles. ^[4]
Zootopia 2 is a monster hit: Over Thanksgiving weekend, “Zootopia 2” delivered an estimated $556 million worldwide, including about $156 million in the U.S. and Canada and roughly half its gross from China, setting new records for an animated sequel. ^[5]
Disney+ is evolving fast: Bob Iger has outlined plans for AI‑generated short‑form video, game‑like features via the Epic Games partnership, and commerce integrations inside Disney+, while the app’s new unified interface for Disney+, Hulu, and ESPN is rolling out globally and even landing on Peloton hardware. ^[6]
Parks have a huge construction pipeline: Disney’s five‑year park construction roadmap includes the Tropical Americas expansion in Animal Kingdom, a Villains land and Cars rides in Magic Kingdom, new Avengers and Coco attractions in California, plus Frozen and Lion King lands in Disneyland Paris, among other projects running into 2029. ^[7]
CEO succession is entering the endgame: Disney’s board expects to name a successor to CEO Bob Iger in early 2026, with parks chief Josh D’Amaro and TV/streaming leader Dana Walden widely seen as the leading internal contenders. ^[8]
DIS stock and outlook: Disney shares trade around $105 (Dec. 5 close), with consensus analyst rating “Strong Buy” and an average 12‑month target of roughly $135, implying about 28% upside from current levels. ^[9]

Financial Snapshot: Q4 2025 Results and 2026 Guidance

Disney’s Q4 2025 (quarter ended September 27) paints a picture of a company that has wrestled streaming into profitability while managing through pressure on traditional TV and near‑flat quarterly revenue.

Headline numbers

From Disney’s official earnings release: ^[10]

Q4 revenue: about $22.46 billion, essentially flat versus the same quarter in 2024.
Full‑year revenue: about $94.43 billion, up roughly 3% versus 2024.
Q4 income before taxes: approximately $2.0 billion, more than double the prior‑year quarter.
Full‑year income before taxes: about $12.0 billion, up close to 60% year‑over‑year.
Q4 diluted EPS:$0.73 (vs. $0.25 a year earlier).
Full‑year diluted EPS:$6.85, up from $2.72 – well over a 2x increase.
Adjusted EPS (non‑GAAP) full‑year:$5.93, up around 19% year‑over‑year.

Segment performance for fiscal 2025: ^[11]

Entertainment revenue rose about 3% for the year, with operating income up 19%, even as Q4 segment profit dipped due to weaker content sales and linear networks.
Sports (ESPN and related businesses) revenue was broadly flat year‑over‑year but operating income climbed about 20%, reflecting better profitability in sports rights and advertising.
Experiences (parks, cruises, resorts, consumer products) continued to be the profit engine, with revenue up about 6% and operating income up 8% for the full year, and double‑digit operating income growth in Q4.

An Investing.com summary of the Q4 earnings call notes that Disney: ^[12]

Beat EPS expectations, posting adjusted EPS of $1.11 versus a $1.05 consensus.
Slightly missed revenue expectations (about $22.5B vs. $22.75B forecast), prompting a short‑term sell‑off in the stock.
Delivered 39% growth in DTC operating income in the quarter.
Guided to double‑digit adjusted EPS growth in fiscal 2026.
Announced plans to double share repurchases to around $7 billion in 2026, compared with 2025 levels, and to boost the annual dividend by 50% to $1.50 per share.

Taken together, those numbers underscore a pivot from “growth at any cost” streaming to profitable, cash‑generating operations, while still investing heavily in content and park capacity.

Streaming: Disney+, Hulu and the AI‑Powered Future

Subscriber growth and profitability

Disney’s most closely watched metrics remain in streaming — and the latest quarter delivered.

According to Disney and third‑party breakdowns: ^[13]

As of September 27, 2025, Disney had about 196 million total Disney+ and Hulu subscriptions.
Disney+ added 3.8 million subscribers in Q4, bringing the service to roughly 132 million global subs.
Hulu added 8.6 million subscribers, reaching about 64 million.
That’s 12.4 million net additions across the two platforms in just one quarter, a strong rebound after earlier periods of slower growth.

The DTC segment is no longer a money pit. Disney’s filings show: ^[14]

Direct‑to‑Consumer revenue in Q4 rose around 8% year‑over‑year.
DTC operating income jumped to $352 million in the quarter, up 39% versus last year.
For the full year, DTC streaming generated about $1.3 billion in operating profit, compared with just $143 million in 2024.

Several catalysts drove this shift: price increases across tiers, tighter cost control, a growing share of higher‑ARPU bundles, and more disciplined content spending. The Q&A on the earnings call also revealed that about 80% of new ESPN DTC sign‑ups are choosing the “trio” bundle with Disney+ and Hulu, reinforcing the bundle as Disney’s preferred model. ^[15]

AI, gaming, and interactivity on Disney+

On the Q4 call and in a follow‑up feature at The Verge, Bob Iger outlined an ambitious technology roadmap for Disney’s streaming platforms. ^[16]

Key points include:

Disney is “really excited about AI” and envisions short‑form AI‑generated video creation tools inside Disney+, letting users create as well as consume content.
The company plans to layer in “game‑like features” using its Epic Games partnership, blurring lines between streaming and interactive entertainment.
Disney+ is also being positioned as a commerce and engagement hub that can nudge viewers toward visiting parks, hotels, and cruise line experiences.

These moves suggest Disney wants Disney+ to evolve from a passive streaming app into a full‑funnel engagement and monetization platform connecting content to real‑world experiences and merchandise.

Product updates and platform reach

Disney+ has been rolling out a refreshed interface that reflects its strategy of tighter integration across brands. According to Tom’s Guide: ^[17]

The redesigned app is expanding beyond the U.S. and features a new navigation bar and four main tabs: For You, Disney+, Hulu, and ESPN (where available).
The update adds a Live hub, more personalized carousels, cinematic artwork, and clearer badges like “New Series” and “Season Finales.”
Disney+ is now available on Peloton fitness equipment, allowing subscribers to stream Disney content while working out.

This is effectively training consumers to treat Disney+ as the front door for Disney’s entire media universe, while quietly building the muscle needed for the formal merger of Disney+ and Hulu into a single app in 2026. ^[18]

Competitive landscape: Netflix buys Warner Bros

Any discussion of Disney streaming now has to mention the bombshell $72 billion deal for Netflix to acquire Warner Bros Discovery’s studio and streaming assets, announced this week. ^[19]

Reuters’ coverage of the deal notes that:

Warner Bros Discovery has struggled with falling revenue and a heavy debt load.
Netflix, post‑deal, adds major franchises like Harry Potter and DC, consolidating even more content power.
Disney still stands out with around 196 million streaming subscriptions and 3% revenue growth, but the competitive bar on content and tech is rising. ^[20]

For Disney, the takeaway is clear: streaming is now a scaled, profitable business, but it operates in a market where rivals are merging into even larger content giants. The company’s bets on AI, interactive experiences, and bundled sports/entertainment will be critical differentiators.

Content & IP: Zootopia 2’s Record Run and Star Wars’ Theatrical Return

“Zootopia 2” fuels box office recovery

Disney Animation’s “Zootopia 2” is the company’s biggest immediate win on the content side. Over the Thanksgiving holiday, multiple outlets — including Reuters, AP, and other box‑office trackers — report that: ^[21]

The film grossed about $556 million worldwide in its opening stretch.
It earned roughly $156 million in the U.S. and Canada, topping the domestic box office charts.
Nearly half of global receipts came from China, where it became the highest‑grossing animated foreign film ever, surpassing the original 2016 “Zootopia.” ^[22]

Market‑watching sites note that “Zootopia 2” delivered one of the biggest animated openings in history and the largest weekend for any film in 2025 so far, helping revive confidence after a string of underperforming Hollywood releases. ^[23]

Financially, a hit of this scale:

Bolsters Disney’s Studio Entertainment results in late 2025 and early 2026.
Generates long tail value through merchandise, potential park overlays, and streaming viewership on Disney+.
Gives investors evidence that Disney’s original animated franchises still resonate globally, including in the strategically important Chinese market. ^[24]

Star Wars: back to 1977

On the Lucasfilm side, Disney is reaching deep into its vaults. A new feature in The Verge confirms that Disney will release a “newly restored” version of the original 1977 theatrical cut of Star Wars to theaters on February 19, 2027, for a limited engagement as part of the franchise’s 50th anniversary. ^[25]

The same story notes that Disney’s Star Wars slate includes:

“The Mandalorian and Grogu” hitting theaters on May 22, 2026.
“Star Wars: Starfighter,” starring Ryan Gosling, scheduled for May 28, 2027. ^[26]

Beyond nostalgia, this strategy supports:

Theatrical revenue from anniversary re‑releases.
Synergy with parks, where new Millennium Falcon: Smugglers Run missions themed to The Mandalorian and Grogu are set to roll out in both Disneyland and Disney’s Hollywood Studios on May 22, 2026 — the same weekend as the new film. ^[27]

In combination with Disney+ series, these releases keep Star Wars firmly embedded in both theatrical and park experiences, reinforcing the IP flywheel.

Parks, Resorts, Cruises and Travel: A Five‑Year Construction Wave

Disney’s Experiences segment continues to post record results and carries perhaps the most visible growth story: a multi‑park, multi‑year expansion plan.

From Disney’s earnings release, Experiences in fiscal 2025 delivered: ^[28]

Revenue up 6% year‑over‑year to over $36 billion.
Operating income up 8% to nearly $10 billion.

That strength underpins an aggressive construction schedule outlined by the “Disney’s Five‑Year (Construction) Plan” compiled by theme‑park blog Wandering In Disney, which synthesizes Disney announcements worldwide. ^[29]

Walt Disney World (Florida)

Key projects and timelines highlighted in the plan include: ^[30]

Tropical Americas at Animal Kingdom (2027)
- Replaces DinoLand U.S.A. with a new land featuring:
  - An Indiana Jones‑themed attraction taking over DINOSAUR.
  - An Encanto‑inspired attraction, plus a large quick‑service restaurant and carousel.
- Demolition and prep are already visible; The Boneyard closed in September 2025, and the DINOSAUR ride is slated to close in early 2026. ^[31]
Magic Kingdom refresh and expansion (mid‑2020s to late 2020s)
- Big Thunder Mountain Railroad and Buzz Lightyear’s Space Ranger Spin scheduled to reopen with upgraded effects and updated gameplay in spring 2026.
- Two Cars‑themed attractions planned for Frontierland, replacing Tom Sawyer Island and the Rivers of America, followed by a large Villains‑themed land with multiple attractions, targeted for around 2029. ^[32]
Disney’s Hollywood Studios
- A Muppets retheme of Rock ’n’ Roller Coaster expected in summer 2026.
- A new Animation Experience complex taking over the Star Wars: Launch Bay area, topped with Mickey’s Sorcerer Hat.
- A planned Monsters, Inc. land featuring a long‑rumored “door coaster,” tentatively targeted for 2027. ^[33]
EPCOT
- Soarin’ Across America film refresh arriving in late May 2026, timed to the U.S. 250th anniversary celebrations. ^[34]

Disneyland Resort (California)

On the West Coast, the same five‑year plan lists: ^[35]

Bluey’s Best Day Ever (Fantasyland Theatre) – March 22, 2026
- A show/meet‑and‑greet/interactive event based on the hit preschool series Bluey.
New Avengers attractions at Disney California Adventure (late 2020s)
- Avengers Infinity Defense, a major “E‑ticket” ride under the Avengers Campus Quinjet, likely using a suspended dark‑ride system and tentatively pegged for 2027–2028.
- Stark Flight Lab, a high‑energy ride where robotic arms whirl two‑person pods through simulated flight.
Coco boat ride and Avatar expansion (late 2020s)
- A new Coco‑themed boat attraction for Pixar Pier/Paradise Gardens, with work expected to start in 2026.
- A large Avatar‑themed land replacing Hollywood Land, likely opening after 2028, following an Eastern Gateway parking and transit overhaul.

International parks

Globally, Disney’s construction slate includes: ^[36]

Disneyland Paris (Disney Adventure World)
- World of Frozen land targeted for spring 2026.
- A Lion King “Pride Lands” area with an anchor attraction planned for 2027.
Tokyo Disney Resort
- A multi‑year Tomorrowland and Space Mountain renovation through 2027.
- A Wreck‑It Ralph overlay for Buzz Lightyear Astro Blasters, targeting a 2026 opening.
Hong Kong Disneyland and Shanghai Disney Resort
- New Spider‑Man attraction in Hong Kong and a Spider‑Man coaster in Shanghai, both slated around 2026.

Cruise line growth

Disney’s cruise business is quietly becoming a much larger piece of the Experiences puzzle. A recent Motley Fool piece notes that: ^[37]

The Disney Destiny just completed its maiden voyage, becoming the seventh ship in the fleet.
From 2022 to 2031, Disney’s cruise line is expected to grow from four to 13 ships, dramatically increasing capacity.

That growth offers a relatively high‑margin, premium product that can smooth out cyclical swings in park attendance.

Orlando International Airport’s $6 billion upgrade

Because Walt Disney World relies heavily on Orlando International Airport (MCO), a major new infrastructure plan there is also relevant to Disney’s long‑term experience story.

Over the past month, Orlando airport authorities have unveiled a $6 billion, decade‑long modernization program that will: ^[38]

Add around 8,000 new parking spaces and upgrade baggage systems.
Introduce facial recognition at screening checkpoints, autonomous wheelchairs, mobile ordering, and new lounges.
Build an advanced air‑mobility vertiport for future electric air taxis and drones (targeted by 2030–2035).

Short‑term, construction will cause some disruption, but in the longer run it should ease congestion for tens of millions of Disney‑bound travelers and support continued growth in the Experiences segment.

Leadership and Governance: The Race to Succeed Bob Iger

Disney’s financial turnaround has unfolded under the second tenure of CEO Bob Iger, but attention is now shifting to who runs the company next.

A December 3 feature, syndicating Wall Street Journal reporting, describes Disney’s CEO succession as entering its “final stage.” ^[39]

Key details:

Disney’s board has said it expects to name Iger’s successor in early 2026.
The company is widely expected to promote from within, with parks chair Josh D’Amaro and television/streaming chief Dana Walden seen as the top contenders.
Both executives have already met with the board in Orlando to present their visions for Disney.
The board wants a low‑drama, low‑attrition handoff, mindful of missteps in previous succession attempts.
Iger’s contract currently runs through December 2026, and the next CEO is expected to work alongside him for a period before taking full control.

At the same time, investor‑rights law firm Halper Sadeh LLC announced it is investigating whether certain Disney officers and directors breached fiduciary duties to shareholders, inviting long‑term investors to contact the firm. ^[40]

Announcements like this are relatively common with large, high‑profile companies and do not by themselves imply wrongdoing, but they highlight how closely governance, capital allocation, and strategic choices at Disney are being scrutinized.

DIS Stock: Where Things Stand and What Analysts Expect

As of the December 5, 2025 close, Disney (DIS) trades around $105 per share, with: ^[41]

A 52‑week range of roughly $80 to $125.
Market capitalization near $190 billion.
2025 revenue around $94.4B and earnings about $12.4B, implying a price‑to‑earnings multiple in the mid‑teens.
A dividend yield around 1.4% based on the new $1.50 per‑share annual payout.

StockAnalysis and other aggregators show: ^[42]

16 analysts covering DIS with an average rating of “Strong Buy.”
A 12‑month consensus target near $135, implying about 28% upside from current levels.
Expectations for double‑digit EPS growth in 2026, supported by:
- Ongoing DTC margin expansion.
- $7 billion in planned share repurchases.
- Continued strength in Experiences and improving Studio Entertainment performance as the slate normalizes.

At the same time, market commentary highlights several risks: ^[43]

Streaming competition is intensifying, especially with Netflix absorbing Warner Bros Discovery’s assets.
Linear TV decline continues to pressure legacy businesses.
Disney plans to spend about $24 billion on content in fiscal 2026, roughly half on sports and half on entertainment, which must be carefully managed to avoid margin compression.
A mis‑step in CEO succession or a slowdown in box office and park demand could weigh on sentiment.

As always, any investment decision should consider individual risk tolerance and time horizon; this overview is informational, not personalized financial advice.

What It All Means Going Into 2026

Putting the pieces together as of December 6, 2025:

Financially, Disney has moved from “fixing streaming” to harvesting profits while still growing revenue modestly.
Strategically, the company is using Disney+ as a central hub for content, sports, interactivity, and even commerce — with AI poised to play a growing role.
Creatively, “Zootopia 2” proves that original animated IP can still deliver global blockbusters, and Star Wars’ theatrical plans extend that franchise’s life well into the decade.
Operationally, the Experiences segment has years of expansion work lined up, from Tropical Americas and Villains Land in Florida to Avatar and Avengers projects in California and Frozen and Lion King lands in Paris.
Governance‑wise, the looming CEO transition and shareholder activism ensure that capital allocation and strategic discipline will stay under the microscope.

For fans, 2026–2029 look like some of the most transformative years for Disney’s parks, streaming services, and franchises since the launch of Disney+ in 2019. For investors, the next chapter hinges on whether management can execute that ambitious build‑out while maintaining streaming profitability and navigating fierce industry consolidation.