Disney warned during its fiscal fourth-quarter report in November that it expected a “modest decline” in subscriptions during the December period.

There were some oversized expectations for the animated film but “Moana 2", originally intended as a series for the company’s streaming service before it was produced for the big screen — blew predictions out of the water. Its five-day opening set a new record for Thanksgiving moviegoing.

Animated blockbuster “Moana 2” put wind into Disney’s sales for the last three months of 2024. The sequel’s strong showing at the box office, along with another profitable quarter for Disney+ and Hulu,