Hollywood
Disney’s film studios clock over $6.5 billion at the global box office: Q3 results
CALIFORNIA: The Walt Disney Company posted a robust start to fiscal 2026, with chief executive Bob Iger and chief financial officer Hugh Johnston pointing to blockbuster films, accelerating streaming momentum and record sports viewership as key drivers of first-quarter performance.
In an executive commentary on Monday, the duo said recent achievements reflected “tremendous progress” in strengthening the company and positioning its businesses for long-term growth.
Disney’s film studios delivered more than $6.5 billion at the global box office in calendar year 2025, marking its third biggest year ever and its ninth time as the world’s top studio in a decade. Two recent releases: Zootopia 2 and Avatar: Fire and Ash, each crossed the $1 billion mark globally.
The company said 37 of the 60 films worldwide to surpass $1 billion in box-office takings have come from Disney studios, four times more than any rival. The success of branded franchises also lifted viewership on Disney plus and drove footfall at theme parks.
Zootopia 2 emerged as the highest-grossing Hollywood film ever in China, earning over $630 million to date, while boosting attendance at the Zootopia-themed land at Shanghai Disneyland.
Across television and streaming, Disney dominated audience charts. Seven of the ten most-watched shows of 2025 streamed on Disney plus or Hulu, according to Nielsen, with Bluey retaining its crown as the most-streamed series in the US for a second year, clocking 45 billion minutes viewed. ABC led US broadcast television among adults aged 18–49, with hits including High Potential, Abbott Elementary and Dancing with the Stars.
Streaming remained a strategic growth engine, with Disney highlighting international expansion, investment in local content and a wave of product enhancements on Disney plus. The company is rolling out new advertising technology, including AI-powered planning tools, and plans to introduce a curated slate of Sora-generated content following a licensing agreement with OpenAI.
In sports, ESPN tightened its grip as the industry leader, capturing more than 30 per cent of total sports viewership across networks. The quarter saw ESPN’s strongest college football regular season since 2011, while ABC delivered its best season since 2006. The College Football National Championship drew 30.1 million viewers, becoming the second most-watched cable event ever.
Monday Night Football recorded its second-highest audience in two decades, with Disney’s NFL divisional game attracting 38 million viewers, the most watched event in the company’s history.
Disney also expanded ESPN’s rights portfolio, signing a new three-year Major League Baseball deal that makes ESPN the exclusive distributor of MLB.TV. In January, the company closed its acquisition of NFL Network and associated media assets, including linear rights to NFL RedZone.
The launch of ESPN Unlimited marked a further push into direct-to-consumer sports streaming, with the company reporting strong early adoption and engagement.
Meanwhile, Disney’s Experiences division continued to ramp up expansion. Next month will see the opening of World of Frozen at the revamped Disney Adventure World in Disneyland Paris, nearly doubling the size of the resort’s second park.
New attractions tied to Bluey, Toy Story 5 and The Mandalorian and Grogu are also in development across Disney’s parks.
In cruise tourism, Disney recently launched the Disney Destiny, while the Disney Adventure: its first ship based in Asia, is set for its maiden voyage from Singapore on 10 March. The fleet will rise to eight ships, with five more planned beyond fiscal 2026.
Iger and Johnston said the quarter reflected disciplined execution and strategic investment across Disney’s core growth pillars, setting the company on a clear path for sustained expansion.
New Delhi [India], March 11: Moscow is quickly becoming a top destination for international film productions, and Bollywood is taking notice. With modern studios, iconic city streets, and rich cultural locations, the city offers filmmakers both visual variety and logistical support. Over the past few years, collaboration between Moscow and the Indian film industry has intensified, with high-profile projects and joint initiatives demonstrating the city’s growing appeal.
We speak with Georgy Prokopov, CEO of Moscow Film Cluster, about what makes Moscow an attractive destination for Indian filmmakers, the practical benefits of shooting here, and how the city is supporting international productions.
How would you describe the main objective of the Moscow Film Cluster for entering the Indian market and participating in the IIFTC Conclave 2026?
At this stage, our goal is very specific: to establish Moscow Film Cluster as a clear, competitive and economically efficient location for Indian producers. The cluster is part of the program, initiated by Moscow Mayor Sergey Sobyanin. The key point is that this is not a one-off project – it represents a consistent, long-term city infrastructure designed to support international film production over the years.
What kind of financial support does Moscow offer Indian filmmakers?
Moscow provides rebates of up to 45% on eligible production and post-production expenses.. Producers may receive up to 30% of approved production or post-production costs as a direct financial rebate and up to 15% in benefits from reduced accommodation, logistics and services within Moscow Film Cluster and the city ecosystem. The main advantage is the in the transparent and structuredmodel: rebate categories are clearly defined, local cost thresholds are fixed, and the application and review procedure is standardized and supported by Moscow Film Cluster. This allows Indian producers to plan projects with a clear understanding of potential rebates, even though the exact amount is confirmed only after submission and approval..
How does the current financial settlement system between Russia and India affect co-productions?
One factor enhancing the attractiveness of joint projects is the direct RUB/INR settlement system. Around 90–95% of payments between Russia and India are now made without using USD or EUR, reducing currency risks. The banking infrastructure is fast: up to 60% of payments from Russia to India are processed within 10 minutes, the rest within 24 hours; from India to Russia, about 15% of transactions are completed within 10 minutes. For producers, this means payments for services, fees, and local contractors can be handled efficiently without delays or extra exchange costs.
What practical measures has Moscow already implemented to simplify the visa regime, the entry to Russia, organizational issues for the stay of Indian film crews?
Producers are naturally concerned not only with locations and rebates, but also with the time and effort required to organize a shoot. Moscow and India already enjoy strong economic and sectoral cooperation, which allows humanitarian and entry procedures to be simplified. This includes electronic visas and more predictable border processes.
Moscow Film Cluster and Moscow Film Commission work closely with Russian production partners who accompany Indian crews during preparation and filming in Moscow –from coordinating the shooting process coordination to providing on-site organizational support. Moscow also negotiates discounts on accommodation and services for film crews within the city ecosystem. The goal is to ensure producers receive all necessary services through a single managed system, without having to coordinate multiple agencies.
What types of locations and venues in Moscow might be particularly interesting for Indian projects?
Moscow offers a broad range of shooting options. Within the cluster, Film City brings together diverse spaces– from historic streets to modern European-style quarters – ideal for projects that move across countries or time periods. Film Factory adds technological capabilities for projects with heavy VFX requirements, while Gorky Film Studio provides fully equipped sound stages, workshops, and the largest archive of costumes and props, reducing the need to build everything from scratch.
Outside the studios, Moscow offers varied urban and natural locations: the historic center, modern business districts, residential areas, parks, and transport infrastructure. All urban shoots are coordinated through Film Commission, minimizing delays and simplifying the permit process.
How would you explain the Moscow Film Cluster structure to Indian producers? Where are the main points of contact with production?
In simple terms, it is a one-stop-shop ecosystem. It includes: Film City with its large backlots, Film Factory with its capabilities, Gorky Film Studio, Film Commission, a dedicated digital platform and Moskino cinema chain.
The integrated cluster structure allows to managethe entire cycle: from scouting and location shooting to post-production and movie screening for Moscow audiences. Sincethe cluster directly manages key locations and infrastructure, pricing is transparent and predictable, which is a major advantage for international partners.
How much interest is there specifically from India, and how has this interest been transformed into real projects?
The Indian interest in Moscow as a production site has become more concrete over the past two years. At FICCI FRAMES 2025, we presented Moscow Film Cluster as a venue partner and held over a hundred meetings with Indian companies, from major studios to service providers.
Smash is a good example of how financial and infrastructure instruments can be combined: the agreement was signed at the Moscow International Film Week. So, the shooting in Moscow will begin in 2026 and is supported by a rebate program. Part of the shooting will take place at the FILM CITY and part will take place at city locations. For us, this is an indicator that the Indian market perceives Moscow not as an abstract possibility, but as a real solution for specific production tasks.
What key advantages of shooting in Moscow would you highlight for Indian producers and studios?
In short, it is a combination of three groups of factors.
The first one is economics: up to 45% rebate, competitive labor costs, large backlogs that reduce travel expenses and an improved RUB/INR payment infrastructure that reduces currency and time costs.
The second one is process manageability: centralized work of tFilm Commission, digital application procedures and a clear set of rules for using city locations and infrastructure.
And the third one is the ecosystem approach: the ability to conduct most of the production cycle in one city and within one managed system—from Film City and Film Factory to Gorky Film Studio and the Moskino network. For Indian producers with their busy schedules and high demands on content volume, this allows for more accurate planning of workloads and budgets.
What message would you like to convey to the Indian industry following your participation in IIFTC 2026?
The main message is that Moscow Film Cluster is already an operational system, not a ‘in-progress’ one, and it was originally designed as a tool for international producers. We openly discuss the rebate structure, infrastructure and working conditions, based on facts and projects that have already been launched, including those with Indian partners.
Pragmatically speaking, we invite Indian companies to view Moscow as a regular link in their production chains: not as a one-off ‘exotic’ location, but as a city that can be included in their content production schedule for several years ahead.
How would you describe the main objective of the Moscow Film Cluster for entering the Indian market and participating in the IIFTC Conclave 2026?
At this stage, our objective is very specific: establishing Moscow Film Cluster as a clear, competitive and economically efficient location for Indian producers. The cluster is being created and developed as part of Moscow City Film Program, initiated by Moscow Mayor Sergey Sobyanin. And this is a key point: we are not talking about a one-off project, but about a consistent city infrastructure.
International marketplaces are professional entry points for us into dialogue with the industry, where we can show how the Moscow model works – not in theory, but in figures and production scenarios.
Rebate and project economics
Up to 45% cost rebate in Moscow:
30% — direct cash rebate on eligible expenses.
Up to 15% — through discounts on accommodation, logistics and services within the cluster and city ecosystem.
Rebate is available for shooting and post-production upon reaching the set thresholds for local costs. The cluster was created as part of the Moscow – City of Cinema program initiated by Moscow Mayor Sergey Sobyanin.
Infrastructure
Key cluster elements: Film City (backlots), Film Factory (virtual and industrial production), Maxim Gorky Film Studio, Moscow Film Commission, Film in Moscow digital platform, Moskino cinema chain.
Examples of current projects: sports drama Smash (co-production by Smena / Kartina Entertainment), shooting in Moscow with a applicated rebate from March 2026.
Financial settlements between Russia and India
90–95% of settlements between countries are already conducted in RUB and INR, without the dollar or euro.
Up to 60% of payments from Russia to India completed within 10 minutes, and the rest – within 24 hours.
About 15% of payments from India to Russia take 10 minutes.
