News Disney’s Fiscal Full Year and Q4 2025 Earnings Results Webcast

[lentesta]

…you want to explain what that means for the kids in the back?

(Hint: I’m sitting in the front)

We reached the top of the lift hill and can see where this ride is headed next?

 

[CoastalElite64]

it’s been mostly a static overall number for the last few years…it’s the prices that “grew”

Think that can keep going? We’ll see

Its in the report. Did you even read it?

 

[Touchdown]

Right... but Disney controls the price increases, so if the price increases are going to lead to revenue that Disney isn't comfortable with, they can just slow or pause them. They're fully in control of the pricing and as such, they determine what their attendance is going to be.

Except they must have growth always, so the pressure to continue price increases is quite high. And no they aren’t fully in control, consumers affect pricing too and with everything else being more expensive, inflation increasing 3% (and no signs of going below that) with flat wage growth means discretionary spending is going to decrease once all debt options have been extinguished. What was an ok price in 2027 could be too high in 2028.

 

[Sirwalterraleigh]

DTC will never replace the profits from the cable bundle. It won’t even come close.

I don’t think this is really understood…how lucrative non-competitive cable revenues were?

They were…it was tons of money for very little work/cost.

The Internet and WiFi broke it.

Which is why Disney largest competitor switched focus to high speed as their core business as soon as they could

More take home from espn and who wants to be a million going on 20 years ago than a tangle of 5 dtcs generate now…

And my $20 then is worth $5 now…on a good day

 

[Serpico Jones]

Stock now down 10%.

 

[Sirwalterraleigh]

Its in the report. Did you even read it?

I read all of these. The actual report…not just the summary that’s for positive consumption.

DTC numbers have “grown” consistently because the old way continues to collapse…but they have also shown some
Results that indicate it’s on a plateau level.

We’ll see.

I’m just here to see how many excuses we get for attendance declines in parks?

As opposed to the actual reasons: overpricing, decline in value and lack of new draws.

 

[Sirwalterraleigh]

We reached the top of the lift hill and can see where this ride is headed next?

Correct

Also to put it succinctly: the rest of Orange County is generating more money lb for lb than wdw is. Little brother landed a body blow.

 

[Serpico Jones]

Hugh Johnston had no answers for anything on CNBC. He looked like he saw a ghost.

 

[monothingie]

And yet, subscribers also grew by millions.

How many are wholesale accounts created as a result of contractual obligations with Telco/Cable Companies?

 

[Trauma]

Bob will get to step aside and leave the pile of burning wreckage for someone else to deal with.

 

[Sirwalterraleigh]

Hugh Johnston had no answers for anything on CNBC. He looked like he saw a ghost.

He thought Bobby Gave him that extension yesterday cause he’s “good”?

No no…another human shield. He’s lee majors

 

[Sirwalterraleigh]

Bob will get to step aside and leave the pile of burning wreckage for someone else to deal with.

I got a real tinfoil on this one…for another day

 

[CoastalElite64]

How many are wholesale accounts created as a result of contractual obligations with Telco/Cable Companies?

Does it matter? All streamers do this.

 

[Disgruntled Walt]

Anyone here still think there's a chance something gets spun off? Whether it's ESPN (don't really care) or the Parks/Experiences (I hope not)...

 

[JD80]

An company that is making tons of money, increasing profits and is a burning wreckage? lol

 

[MisterPenguin]

DTC will never replace the profits from the cable bundle. It won’t even come close.

Segment net profit:

4Q 2025 Linear -- $391M​

​

4Q 2025 DTC -- $352M​

Looks close to me.

 

[MisterPenguin]

Anyone here still think there's a chance something gets spun off? Whether it's ESPN (don't really care) or the Parks/Experiences (I hope not)...

The only thing worth spinning off is Linear TV Channels/Cable.

Their profits are going down and will continue to go down thanks to cord-cutting.

WB/Disc and Comcast/NBC are both spinning off their TV Channels/Cable.

But Iger said Disney won't do the same because:

• They're still generating profit, even if less and less over time... it's still profitable.
• The TV channels' content winds up on DTC, making it more profitable and succesful.

Wall Street is punishing Disney for not promising double digit growth. If they can't get 20+% ROI like with Nvidia... it's garbage to them.

WB/Disc and Comcast/NBC are dumping their linear channels precisely because their continuing decline in profits makes the bottom line look bad. And Wall Street is allergic to that.

 

[monothingie]

Does it matter? All streamers do this.

So that means the added subscribers on Q4 as a result of the charter deal don’t count?

 

[Sirwalterraleigh]

Does it matter? All streamers do this.

It does…because trial subs are worthless…and if it’s bundle as a package by internet, tv, cell providers…those subs could be dumped if they let the agreement sunset

 

[Sirwalterraleigh]

Anyone here still think there's a chance something gets spun off? Whether it's ESPN (don't really care) or the Parks/Experiences (I hope not)...

Where this is going…ultimately…is they will be “merged” into a bigger tech fish…

The guys that get buy off checks will say it’s just the best thing for the future since sliced bread…

But the reality is they will be sold to be broken up for highest value return.

This is what we…”the haters” really want to avoid. We hate it so much that preservation is the driving force.

Or believe the low talent short weasel who won’t go away and made himself king…

Binary choice