Disney Interactive sees losses despite revenue hike

Disney Interactive Media has reported a 13 per cent increase in revenue for the quarter ending December 31st 2008, but has nonetheless suffered a loss for period.

Revenue reached $313m, up from $276m in the same period the year before. This wasn’t enough to prevent a loss of $45m, down from an operating income of $13m in 2007.

Disney Interactive Studios was credited for the strong performance of its High School Musical and Hannah Montana titles, as well as Jurassic-themed FPS Turok.

We faced a challenging first quarter with many of our businesses impacted to various degrees by the economic downturn,” Disney’s president and CEO Robert A. Iger stated.

We are forcefully confronting current circumstance while investing in the great creativity, brands and assets that are Disney’s strengths and keys to its long-term success.”

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