Blockbuster movies give boost to Disney's revenue

US entertainment giant Walt Disney's fourth quarter revenue beat market expectations thanks to its recent blockbuster movies.

The company reported a 7% increase in quarterly revenue to $12.39bn (£7.8bn), above expectations of $12.36bn.

Hit films Guardians of the Galaxy released in July and Maleficent starring Angelina Jolie drove its studio unit growth by almost 18%.

Disney said it would release another

Netflix to release 'Crouching Tiger' sequel in 2015

The video streaming site Netflix will release its first feature-length film next year after striking a deal with the Weinstein Company.

The sequel to Ang Lee's Oscar-winning martial arts drama Crouching Tiger, Hidden Dragon will be shown on Netflix and in Imax cinemas in August.

Netflix has over 50 million subscribers, in more than 40 countries.

The firm already produces its own TV programmes, notably the politically-themed House of Cards.

"The movie-going experience is evolving quickly and profoundly, and Netflix is unquestionably at the forefront of that movement," said Harvey Weinstein, co-chairman of the Weinstein Company.

"We are tremendously excited to be continuing our great relationship with Netflix and bringing to fans all over the world the latest chapter in this amazing and intriguing story."

The sequel, Crouching Tiger, Hidden Dragon: The Green Legend, will see