The Consumer Products arm of The Walt Disney Company has reported a 22 per cent increase in its revenues for the first quarter – mainly thanks to Frozen.
The firm reported CP revenues of $1.4 billion for the period ending December 27th, 2014, while segment operating income increased 46 per cent to $626 million.
Perhaps unsurprisingly, the higher operating income has been attributed to a boost in the firm’s merchandise licensing and retail businesses – courtesy of Frozen and, to a lesser extent, Disney Channel properties Mickey and Minnie, Spider-Man and Avengers.
Overall, the firm reported revenues for the period of $13,391m, up nine per cent from the $12,309m reported for the same period in 2013.
"This was yet another incredibly strong quarter for our company, with diluted EPS up 23 per cent driven by record revenue as well as significant growth in segment operating income," said Robert Iger, chairman and CEO of The Walt Disney Company.
"Our results once again reflect the strength of our brands and high quality content and demonstrate that our proven franchise strategy creates long-term value across all of our businesses."