News Disney’s Q1 FY25 Earnings Results Webcast

[Chi84]

That's where you're wrong.

The disconnect that you don't seem to understand is from the belief that more people is alway a good thing, if capacity is built to support it.

The frustration is that Disney would rather minimize their operational cost and monetize (and incentivize) their lack of capacity rather than building out and expanding. We see the end-result of this right now with the increasing negative perception about Disney, not just from the haters, but from the normies.

I don’t disagree with any of that. I wouldn’t mind more people if I was able to have the same experience at the resort pools, water parks, buses and restaurants that we had last November. There’s more to Disney than just the theme parks.

Should Disney have done what you said? Yes, absolutely. But they didn’t so I live with the reality. I’m a long-time visitor but I don’t have the emotional investment in Disney to figure out what’s wrong with it or how it can be fixed some years hence.

You’re much closer to WDW and may see the negative perception more than I do. I hear people complain about the cost but not the quality or experience.

 

[Chi84]

Overcrowded is all relative though. Overcrowded on the paths? You might be correct. But overcrowded in terms of wait times you are wrong. I don't have the numbers in front of me, but I'm pretty sure crowd levels are around 2012 levels, but wait times are closer to 2019, which is like 20% higher attendance

I don’t worry about wait times.

There’s more to WDW than just the parks.

 

[Sirwalterraleigh]

It's a good solid number 3 or number 4 ranked streaming service for the target demographic.

If you only consider 12 and under, then D+ is number 1. (But that doesn't work to well for the advertisers.)

I think this is the bigger issue

Hulu is providing really solid results

ESPN is still swirling and will continue to circle the bowl until is completely replaced by a new sports delivery environment…

Even Bob knows that…you think the king of “his brands” would voluntarily take them down of the marquees? Not a chance.

D+ is a very nice interface…but above the kid demo provides almost nothing as far as content to keep adults engaged. Less than all the other options with maybe the except of peacock now?

 

[Sirwalterraleigh]

I’m more satisfied at a crowded park with all attractions operating the full day, all food and beverage open and fully staffed, lots of live entertainment, etc.

Now there is a true tipping point when the parks are truly packed - like New Year’s Eve, and it is miserable for first time guests who don’t know what they are getting into.

There is almost a direct 1:1 correlation with the rise in disgruntlement (and Disney knows this) with crowd levels not being adjusted to based on forecasts in real time

They wanted to destroy the idea of a “busy” season and exploit any rise above mean as an upsell opportunity…and that’s exactly where it’s gone.

Not without unfavorable consequences for TWDC

 

[monothingie]

I think this is the bigger issue

Hulu is providing really solid results

ESPN is still swirling and will continue to circle the bowl until is completely replaced by a new sports delivery environment…

Even Bob knows that…you think the king of “his brands” would voluntarily take them down of the marquees? Not a chance.

D+ is a very nice interface…but above the kid demo provides almost nothing as far as content to keep adults engaged. Less than all the other options with maybe the except of peacock now?

This is the Achilles' heel of D+ (and Disney in General) is that they are not even remotely nimble enough to generate content the way Netflix does. In the time it takes Disney to green light the next Star Wars or Marvel D+ piece of junk, Netflix will have produced 4 or 5 different series for around the same price of the one D+ series. All they would need is one of them to be successful to make up for the others that weren't, and even then, the sheer number of watch minutes for all 4 or 5 would still be many times that of the D+ production.

 

[Jrb1979]

I don’t worry about wait times.

There’s more to WDW than just the parks.

I agree there is but IMO majority of average guests go to WDW for the parks first.

 

[Ayla]

You mean the Halloween party that was held only on Halloween until 2000 and the Christmas party that was limited to 7-8 evenings until 2001, and not the combined 50+ evenings the park closes early every year now for the two? Sure, if that's your definition of "regularly" and "30 years".

They're 17. They weren't even born in 2000.

 

[Sirwalterraleigh]

This is the Achilles' heel of D+ (and Disney in General) is that they are not even remotely nimble enough to generate content the way Netflix does. In the time it takes Disney to green light the next Star Wars or Marvel D+ piece of junk, Netflix will have produced 4 or 5 different series for around the same price of the one D+ series. All they would need is one of them to be successful to make up for the others that weren't, and even then, the sheer number of watch minutes for all 4 or 5 would still be many times that of the D+ production.

Spy shows…they’re being produced and gobbled up across all the platforms…

But you can’t make it for a 9 year old…so that’s a problem

 

[Sirwalterraleigh]

They're 17. They weren't even born in 2000.

Hey…I worked there then! Even had a fancy id and could wear my own clothes (no polyester)…

But to be fair…I’m still waiting to be fully mentally formed

 

[TheMaxRebo]

You’re absolutely correct, but don’t underestimate how many visitors out there are looking for exactly that.

It’s part of the reason people here get upset when someone says they enjoy Disney as it is without regard to what it was or what it could be.

You can see the disconnect when someone says they enjoy the parks with fewer people and someone else answers that it’s not what Disney wants and isn’t sustainable.

we are pretty similar - we vacation other places as well but also seem to repeat Disney more than others b/c it is one place that everyone in the family likes and looks forward to going to

Is everything there as good/as good a value as in the past? No, but still pretty great and good return on our investment compared to other options for what we get out of it (but we have adjusted how we do it - doing shorter trips, more after hors vs regular days, less table service, etc)

 

[HauntedPirate]

They're 17. They weren't even born in 2000.

“You mess with the bull, Bender, you get the horns.”

 

[TheMaxRebo]

I’m more satisfied at a crowded park with all attractions operating the full day, all food and beverage open and fully staffed, lots of live entertainment, etc.

Now there is a true tipping point when the parks are truly packed - like New Year’s Eve, and it is miserable for first time guests who don’t know what they are getting into.

I think in 2018-2019 it was more than just NYE where it was too crowded - at least for what I want.

I do agree I want it where things are running at full capacity, plenty of live entertainment to occupy people when not going for rides, etc.

Sometimes now are maybe lower than they would want to enable this but I think a lot of times are pretty appropriate levels of crowds - hopefully the building they are doing now attracts more but can handle more as well

 

[Agent H]

They're 17. They weren't even born in 2000.

I’m 17 and a 1/2 thank you very much

 

[MisterPenguin]

I'm more shocked how many actually believe they want lower attendance.

When the CEO says it several times a year how GSATs go down when crowded and go up when not so crowded, and so, their goal is to regulate overcrowding with steep price hikes and surge pricing and reservations. And how that's OK, because the increased spending per person makes up for lower attendance.

And how reduced-capacity evening nights and parties keep selling out.

It's surprising when people don't believe Disney and guests want lower attendance.

 

[Tha Realest]

Spy shows…they’re being produced and gobbled up across all the platforms…

But you can’t make it for a 9 year old…so that’s a problem

D+ tried a few if you count The Mysterious Benedict Society and the National Treasure series. When are the next seasons coming out?

 

[Dranth]

Overcrowded is all relative though. Overcrowded on the paths? You might be correct. But overcrowded in terms of wait times you are wrong. I don't have the numbers in front of me, but I'm pretty sure crowd levels are around 2012 levels, but wait times are closer to 2019, which is like 20% higher attendance

This may depend on when you go. I wouldn't be surprised if overall they are close due to things like increased ride down time but that hasn't been the case for our trips.

Just using Touring Plans historical records of crowd levels for when we go each year, there has been a decrease. Most importantly, at least to me, the high dropped from an 8 in 2018 (the last time we went before Covid) to a 5 or 6 depending on the year post shutdown. That is a HUGE difference in how much time is spent in lines.

For example, they show FoP on a 5 crowd level coming in at 80+ minutes while on an 8 it starts at 120+ minutes.

 

[flynnibus]

Remember a time where D+ was going to usher in the golden age of never ending mega profits.

Said no one ever...

But hey, I guess some people think riding a sinking model to the bottom is the better alternative?

 

[monothingie]

Said no one ever...

But hey, I guess some people think riding a sinking model to the bottom is the better alternative?

You're right, they blew billions...to make hundreds of millions.

 

[TrainsOfDisney]

I don’t worry about wait times.

Because you always buy LL, correct?

 

[Chi84]

Because you always buy LL, correct?

I do now. But I stopped waiting in lines in 1999 when WDW introduced the first fastpass. So the worrying stopped 22 years before the buying started.