The financial quarter ending June 27th 2009 bought mixed fortunes for the games arm of global giant Disney, with sales down but operating loss reduced.
Sales fell by 20 per cent year-on-year, dropping to $113m. However, operating loss was reduced from $91m in 2008 to $75m this year. The savings came from reductions in Disney’s marketing and development plans.
Disney as a whole also suffered declines. Revenues for the period were $8.6bn – a decrease of $640,000. Profit declined from $1.28bn in 2008 to $954m.
Lower costs at Disney Interactive Studios were more than offset by a decline in unit sales of self-published videogames at Disney Interactive Studios reflecting the strong performance of The Chronicles of Narnia: Prince Caspian in the prior-year quarter,” a company statement read.
Disney president and CEO Robert Iger added: While a tough global economy impacted our performance in the quarter, we remain encouraged by the relative strength of our business.
"That strength is the result of Disney’s combination of strong brands, consistent business strategy and the steps we’ve taken to make our businesses more efficient without sacrificing quality.”