Disney vs Patreon: Revenue, Profit and Business Model
Disney had $94.4B of annual revenue in FY2025 and $12.4B of net income. Patreon had $179M (unaudited) of annual revenue in FY2025.
Latest financial snapshot
Financial summary
Disney
Disney's fiscal 2025 (ended September 27, 2025) revenue rose 3% to $94.4 billion, net income was $12.4 billion and adjusted EPS increased 19% to $5.93. Total segment operating income rose 12% to $17.6 billion, led by a record $10.0 billion from Experiences. Streaming became a reliable profit contributor after years of losses. In fiscal Q3 2026 (ended June 27, 2026), revenue grew 7% to $25.25 billion, Experiences revenue rose 10% to $9.97 billion, entertainment streaming revenue rose 11% to $5.53 billion, and adjusted EPS climbed to $2.06 from $1.61. Management guided to $9 billion of fiscal 2026 capital spending, about $24 billion of content investment and at least $9 billion of share repurchases. The Walt Disney Company maintains a formidable market valuation around $200 billion, underpinned by its vast intellectual property portfolio and theme parks.
Patreon
Patreon is private and does not report revenue. Research firm Sacra estimates revenue of about $179 million for 2025, up 28% from 2024. Creators passed $10 billion in cumulative earnings in August 2025, up from $3.5 billion around 2021, and Patreon reported 25 million paid memberships at that time. Funding milestones include a $90 million Series E at a $1.2 billion valuation in September 2020 and a $155 million Series F led by Tiger Global at $4 billion in April 2021. Cost cuts followed: about 80 jobs (roughly 17% of staff) in September 2022 and 93 jobs (about 20%) in July 2026.
Revenue and profit by year
Disney
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $94.4B | $12.4B | 13.1% | +3.4% | Source |
| FY2024 | $91.4B | — | — | +2.8% | Source |
| FY2023 | $88.9B | — | — | +7.5% | Source |
| FY2022 | $82.7B | — | — | +22.7% | Source |
| FY2021 | $67.4B | — | — | +3.1% | Source |
| FY2020 | $65.4B | — | — | -6.1% | Source |
| FY2019 | $69.6B | — | — | +17.1% | Source |
| FY2018 | $59.4B | — | — | +7.8% | Source |
| FY2017 | $55.1B | — | — | — | Source |
Patreon
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 (unaudited) | $179M | — | — | — | Source |
| FY2024 (unaudited) | $140M | — | — | — | Source |
| FY2022 (unaudited) | $101M | — | — | — | Source |
Where the revenue comes from
Disney
- Entertainment~44%
Disney+, Hulu, theatrical films, content licensing, ABC and cable networks: $42.5B FY2025 revenue.
- Experiences~38%
Theme parks, resorts, Disney Cruise Line and consumer products: $36.2B FY2025 revenue.
- Sports~18%
ESPN affiliate fees, advertising and direct-to-consumer subscriptions: $17.7B FY2025 revenue.
Patreon
- Platform fees on memberships
Majority (not disclosed)
10% standard fee (5%, 8% or 11% on legacy plans) on paid membership revenue.
- Platform fees on shop sales
Not disclosed
The same platform fee applied to one-off digital product sales.
- Payment processing and currency conversion
Not disclosed
Processing and conversion fees charged on fan payments.
Business model and strategy
Disney
How it makes money
Disney reports three segments. Entertainment ($42.5B FY2025 revenue, $4.7B segment operating income) sells Disney+ and Hulu subscriptions and advertising, releases films theatrically, licenses content and runs ABC and cable networks. Sports ($17.7B revenue, $2.9B operating income) is mainly ESPN, which earns affiliate fees from pay-TV distributors, advertising and direct-to-consumer subscriptions.
Growth strategy
Under CEO Josh D'Amaro, Disney's plan centers on a 'One Disney' push to align its divisions around franchises, plus three investment priorities. First, streaming margins: Disney targeted a 10% operating margin for Entertainment DTC in fiscal 2026 through price increases, advertising tiers, password-sharing limits and the integrated Disney+ and Hulu app.
Competitive advantage
Disney owns a franchise library that few rivals can match, including Mickey Mouse, Disney Animation, Pixar, Marvel, Star Wars, Avatar and The Simpsons, and it can monetize the same story through box office, Disney+, parks, cruises and licensing. Its parks are hard to copy because they need decades of land, capital and Imagineering know-how; Walt Disney World alone spans about 25,000 acres.
Patreon
How it makes money
Patreon makes money by keeping a share of every payment fans make to creators. Creators who published a page after August 4, 2025 pay a flat 10% platform fee; older pages stay on legacy 5% (Lite), 8% (Pro) or 11% (Premium) plans. Payment processing fees (around 2.9% plus $0.30 per US card payment on standard transactions) and currency conversion charges are passed through to creators.
Growth strategy
Patreon is widening its funnel beyond paid memberships. Free memberships let creators collect fans directly; the shop sells one-off digital products; native video, private podcast feeds and community chats keep members engaged. A single 10% standard fee for new creators from August 2025 simplified pricing.
Competitive advantage
Patreon is format-agnostic: podcasters, video creators, musicians, writers, game developers and illustrators all use the same membership, shop and community tools. Switching costs are high because moving to another platform means asking every paying member to re-subscribe.
Questions about Disney vs Patreon
Which company has higher revenue — The Walt Disney Company or Patreon, Inc.?
The Walt Disney Company had $94.4B (FY2025), while Patreon, Inc. had $179.0M (unaudited) (FY2025). By latest annual revenue, The Walt Disney Company is the larger business, with Patreon, Inc. showing a smaller revenue base.
What is the market cap of The Walt Disney Company vs Patreon, Inc.?
The Walt Disney Company has a market capitalisation of $180.0B. A public market cap figure for Patreon, Inc. was not available (it may be privately held).
How does revenue per employee compare for The Walt Disney Company and Patreon, Inc.?
The Walt Disney Company has $409k / employee in revenue per employee, while Patreon, Inc. has $484k / employee. Headcounts may use different dates, so the ratio alone does not establish which business operates more efficiently.
How do The Walt Disney Company and Patreon, Inc. make money?
The Walt Disney Company and Patreon, Inc. generate revenue in fundamentally different ways. The Walt Disney Company: Disney reports three segments. Patreon, Inc.: Patreon makes money by keeping a share of every payment fans make to creators.
Is The Walt Disney Company bigger than Patreon, Inc.?
By last reported revenue, The Walt Disney Company ($94.4B (FY2025)) is the larger company compared to Patreon, Inc. ($179.0M (unaudited) (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Disney vs Patreon overview