Walt Disney (DIS) ,whose earnings have been staggered in the last year by falling subscribers for its ESPN sports channel, has other problems in its pay-TV business.
Subscribers for its flagship Disney Channel also fell over the last two years, nearly matching ESPN's decline, according to Disney 10-K annual statement filed on Nov. 23.
The company also said it waived receipt of management fees and royalties through mid-2018 that it collects from its financially hobbled Disneyland Paris theme park and resort.
Last year, the company collected 83 million Euros, or about $87.4 million, in fees and royalties from Disneyland Paris, and was scheduled to receive about $22.1 million in the final quarter, according to the park's Disney-controlled Euro Disney S.C.A. holding company. It share of its 81%-owned Euro Disney's loss last year was $742 million.
The numbers of subscribers getting the Disney Channel fell to 93 million by the end of Disney's fiscal year ended October 1, down from 97 million in 2014, the company also reported. ESPN fell from 95 million to 90 million subscribers, its lowest number since 2005.
Increasing numbers of subscribers have been "cutting the cord" and dropping their higher priced cable and satellite subscriptions in favor of streaming programs from services like Netflix (NFLX) and Amazon (AMZN) Prime Video
Unlike ESPN, the Disney Channel doesn't sell advertising. It received approximately $1.21 monthly per subscriber as of last year, according to SNL Kagan, which tracks the fees, compared to the $7.21 that Disney collects each month from ESPN subscribers.