ABC Prolonging the Magic

Not long ago, I wrote about Disney's (NYSE:DIS) ABC unit and how it was enjoying a great start to the new television season. Looking at some all-important sweeps numbers for November, it appears ABC is still doing well.

According to CNNMoney, ABC scored an average daily viewership of 5.54 million in the vaunted 18-to-49 demographic, a 6% year-over-year increase. Granted, Viacom's (NYSE:VIA) CBS was in first place, delivering 5.8 million viewers. But that represented a slight drop from the previous year's November ratings book. Sweeps is a crucial time for television because the value of advertising inventory depends on the performance of programming during the period. So you can bet that Mickey's investors are pleased at such news.

To get a feel of how important a flourishing ABC is, let's look at the numbers from Disney's full-year report. The broadcasting segment achieved operating income of $464 million, including the effect of stock options, for the fiscal year versus $245 million in the previous year. That's nice profit growth, and it came behind a 10.7% increase in revenues to $5.9 billion. Granted, the cable networks generate more revenue and much more operating profit. But it's important for ABC to shine, as it can only help drive revenues and income in other parts of the company (hey, we're still talking synergy here, after all), in addition to contributing the green stuff on its own.

How long will the good times last at ABC? I don't know. But I hope the company can keep the momentum going and not end up like General Electric's (NYSE:GE) NBC, which is still searching for a magic bullet to get viewers over to its side. As to when the stock will again fly, I suggest you remain patient; of course, a lot of people are probably laughing at that statement, because Disney stock has been nothing but a Draconian exercise in patience. Someday, my friends, someday -- it's what long-term investing is all about.

For more Foolish Takes on the Mouse House:

• Little Mouse in Big China
• Disney's Extreme Makeover
• Disney's No Chicken

Head on over to the Disney discussion board and post some of your magical thoughts.

Fool contributor Steven Mallas owns shares of Disney and General Electric. The Fool has a disclosure policy.