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Walt Disney Co. have reported a record full-year revenue of $37.8 billion - good news in troubled times, but they also noted a turn for the worse in TV advertising sales and theme park bookings. Not too suprising under the circumstances.

Net income fell 13% to $760 million in the fiscal fourth quarter compared with a year ago on revenue that climbed 6% to $9.45 billion.

Consumer products were the stars of the show, where revenue jumped 41% to $812 million and operating income was up 14% to $176 million, and Media networks, saw revenue climb 4% to $4.21 billion, with operating income flat at $1.06 billion. Studio entertainment rained on the parade, where revenue slumped 5% to $1.45 billion and operating income was off 42% to $98 million.

Revenue generated by Parks and resorts, was up 7% to $2.97 billion, though operating income there fell 4% to $412 million.

The results mostly fell short of Wall Street’s expectations, so Disney shares fell 4% after the closing bell Thursday, when the results were released. The stock was already down 29% this year.

This week should be a good one. I am in Cannes in the south of France attending the largest video content show of its kind. MIPCOM plays host to over 13,000 delegates from nearly 5000 companies from across the globe. We descend on the Palais de Festival (not as grand as it sounds!), to hawk our content to TV buyers and to exchange ideas on the future of entertainment media. I am actually a day late because MIPCOM started yesterday, but hey - better late than never.

On today’s conference agenda there is a session covering Entertainment media and Advertising, Non-traditional Branded Entertainment and a keynote talk from Michael Eisner, former CEO Walt Disney Company. But possibly (hopefully) the highlight of the day will be a ‘Creativity Keynotes’ presentation from Ze Frank “internet legend and pioneer, comedian and presenter”.

According to UK press reports, the Walt Disney Group is negotiating a deal for a consortium of financial institutions to take a controlling shareholding in Derby County, an English soccer club. If this happens Derby will be following in the footsteps of Manchester United, Liverpool and Aston Villa by taking American owners.