Disney Interactive Media experiences $295 million loss for year

The Walt Disney Company may be holding its own in this tough economic time, but its Interactive Media division, which includes Disney Interactive and Disney Online, ended the corporation's fiscal year with a $295 million loss. This follows the division's $258 million loss last year -- it is the only group in the company hemorrhaging cash. PaidContent quotes outgoing CFO Tom Staggs explaining the situation away, "We're making an investment (in self-published video games). We're currently in a loss situation and would like to see that reverse itself as we build out to scale."

Optimistically, next year could be better with the release of Split/Second and Epic Mickey ... optimistically.

Source -- Disney fiscal year results [PDF link]

This article was originally published on Joystiq.