Disney Interactive posts $216 million loss for 2012 fiscal year

Disney Interactive, the video games branch of the massive entertainment company, posted losses of $216 million for its 2012 fiscal year, a period which ended Sept. 29, in the company's latest investor's report.

The losses were chalked up to a lack of "significant" releases in the console space, a move Disney attributes to "an ongoing shift from console game releases to mobile and social game releases." Though the number reflects a dire state for the company's interactive arm, the numbers are better than the $308 million in losses posted for fiscal 2011. The report claims that a lack of marketing and development expenditures helped cut nearly $100 million from the company's total overhead.

Disney Interactive also posted $845 million in revenues for the fiscal year, $191 million of which came from the year's fourth quarter. Those quarterly results are down 14 percent from the same period last year; another result of the company's scaling back of its console offerings.

The company's next video game publishing project is Disney Epic Mickey 2: The Power of Two, which launches Nov. 18 for Wii, Wii U, PS3 and Xbox 360.