Disney today released the results for the first quarter of fiscal 2010, including its Interactive Media division. Earnings for the division were at $221 million, a nearly 30 percent decrease compared to the $313 million in 2009, while losses decreased significantly from $45 million during the same period last year to $10 million this year.
"Our interactive media segment reported lower revenue because we released fewer video game titles in the quarter. Operating losses were trimmed through lower marketing and other costs at Disney interactive studios," said Disney SVP and CFO Jay Rasulo during a earnings call [thanks Virtual Worlds News]. "At Disney Online Club Penguin saw strong growth in paid subscription contributing to better results."
As for the division's future strategies, Disney CEO Bob Iger indicated that he would shift the focus of Disney properties away from the HD consoles and fill the gap with Marvel games. "Disney-branded games seem to perform better on the Wii and DS platforms,” he said [thanks Computer World].
Still Iger did not dismiss games on PS3 and Xbox 360 outright, pointing to adaptations of Tron 2 and Toy Story 3 in addition to Split/Second along with the Wii exclusive Epic Mickey. "While we'll continue to make high-end games," Iger noted, "we'll be very judicious in how many we make and which ones we choose."
