ImperfectPixie
Well-Known Member
I hope the old Disney Nature shows eventually make their way to Disney+...those were great.
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On layoffs, very bad attendance, and Iger's legacy being one of disgrace
- Thread starter pheneix
- Start date
Brer Oswald
Well-Known Member
What I posted was a fictional story that poked light at the “Iger Puppet Master” theory in an effort to be funny. Clearly I was unsuccessful.
Brer Oswald
Well-Known Member
They have, haven’t they?
ImperfectPixie
Well-Known Member
I haven't seen them on there? But I haven't searched...going to look!
ImperfectPixie
Well-Known Member
WOOHOO! They are!
TheDisneyDaysOfOurLives
Well-Known Member
- In the Parks
- Yes
I thought it was illegal to falsify the corporate earnings reports/10-K?
Not to mention stock analysts who would ding Disney for doing so and recommend a 'don't buy.'
Mouse Trap
Well-Known Member
Within 2 minutes of the earnings being released many users were claiming it was an accounting trick. I highly doubt anyone on here has the capacity to read and digest the mechanics of an earnings report in that amount of time.
Surely Disney used a few perfectly legal tactics to move money and losses, but nothing they did was illegal in order to puff up their financial situation to appear exponentially better than what many are trying to allude to.
The same doom and gloom insiders were preaching dooms day was FINALLY upon us and got caught, again. This is their time to do damage control.
Brer Oswald
Well-Known Member
There’s sarcasm...font?!
DDLand
Well-Known Member
My initial reaction is how mixed the results were. There were stunning highs and stunning lows. We care about Disney Parks, Experiences, and Products (DPEP). DPEP includes the theme parks, cruise ships, and licensing (think toys and clothes) businesses. DPEP was clobbered. It was catastrophic. DPEP made revenues of $26 Billion in 2019. It’s massive. It was The Walt Disney Company’s #1 revenue creating division in 2019. While margins and profitability were still lower than Media Networks, the future looked bright for DPEP. One investor even referred to Disney Parks as “Disney’s Rock of Gibraltar:”
www.google.com
Now this massive business has been forced to a halt. 85% YoY reduction in quarterly revenue. $3 Billion in OI losses thanks to COVID. It’s crazy. This is pretty unprecedented. To see a business so massive shutdown so rapidly is stunning. Guys, this quarter’s losses are just mind blowing. DPEP was obliterated. Could any of us imagined this one year ago? Could any of us pictured an 85% YoY collapse? It’s insanity. We may be a little more used to insanity than we were a year ago. But everyone, this was incredible.
Will there be layoffs? Will there be cuts? What happens next?
We need not fear for the company’s immediate future. Disney has accumulated enough cash to survive in perpetuity. But let’s not kid ourselves. Chapek’s #1 priority right now is returning DPEP to profitability. Chapek and Co. have a license to lose money at Direct to Consumer. The same leeway is not granted for DPEP. It HAS to make money- even if only a little bit.
What does that look like in practice? Expect desperate actions and deep cuts to headcount. Layoffs WILL come. It is was remarkably bold to reopen Walt Disney World. The idea there was a bunch of pent-up demand for Orlando was ludicrous. Whether you believe it’s rationale or not, people are scared or not interested in wearing a mask. That’s a reality that Chapek seemed blissfully unaware of. COVID will keep having regional flare ups for the next few months (maybe longer). Welcome to the “new normal.” Projects WILL be reduced in scope or cancelled. The fact that Chapek’s team refused to even mention occupancy is telling. Do you think Chapek wouldn’t be crowing about occupancy if it was strong? The CFO’s dodge was absurd.
Something else that will suffer... Quality. I wrote this in February as I decried the state of the parks:
But what about the other businesses? Solid results all around. Media Networks proved more resilient than I was expecting. People were willing to pay top dollar for ESPN even as content slowed to a trickle. The studios will continue to contract. That could be pretty messy for a while. My inclination is Mulan for $30 won’t fair too well... But I’m open to being proven wrong. Cutting out the theatres means Disney could have pretty much half the gross and still make the same amount of money. If it works it would be liberating. COVID has made everything unpredictable. Mulan will be an exciting experiment! Expect Disney to push it hard.
So much unpredictability! Let’s keep our eyes on the parks. If they do anything to harm our Parks, let’s let them know!
Disney's parks are the 'Rock of Gibraltar' for the brand
Disney delivered more of its magic last quarter. However, Trip Miller at Gullane Capital Partners and Disney shareholder, sees enormous potential for the company to still grow.
Now this massive business has been forced to a halt. 85% YoY reduction in quarterly revenue. $3 Billion in OI losses thanks to COVID. It’s crazy. This is pretty unprecedented. To see a business so massive shutdown so rapidly is stunning. Guys, this quarter’s losses are just mind blowing. DPEP was obliterated. Could any of us imagined this one year ago? Could any of us pictured an 85% YoY collapse? It’s insanity. We may be a little more used to insanity than we were a year ago. But everyone, this was incredible.
Will there be layoffs? Will there be cuts? What happens next?
We need not fear for the company’s immediate future. Disney has accumulated enough cash to survive in perpetuity. But let’s not kid ourselves. Chapek’s #1 priority right now is returning DPEP to profitability. Chapek and Co. have a license to lose money at Direct to Consumer. The same leeway is not granted for DPEP. It HAS to make money- even if only a little bit.
What does that look like in practice? Expect desperate actions and deep cuts to headcount. Layoffs WILL come. It is was remarkably bold to reopen Walt Disney World. The idea there was a bunch of pent-up demand for Orlando was ludicrous. Whether you believe it’s rationale or not, people are scared or not interested in wearing a mask. That’s a reality that Chapek seemed blissfully unaware of. COVID will keep having regional flare ups for the next few months (maybe longer). Welcome to the “new normal.” Projects WILL be reduced in scope or cancelled. The fact that Chapek’s team refused to even mention occupancy is telling. Do you think Chapek wouldn’t be crowing about occupancy if it was strong? The CFO’s dodge was absurd.
Something else that will suffer... Quality. I wrote this in February as I decried the state of the parks:
I could not have foreseen that the crises that Disney would face would come so soon and so destructively. It also would be FAR outside Disney’s control. But it pays to remember... Chapek and his management team are horrific. They don’t understand or like theme parks. They have spent the last two decades butchering Walt Disney World. Walt Disney World is on dangerous footing. Quality and value are the first things that Chapek will happily slash. Guys, Walt Disney World is in danger. While low crowds may feel good right now, expect deep and lasting cuts. The Cast Member Corps will be gutted. Chapek will be relentless.
But what about the other businesses? Solid results all around. Media Networks proved more resilient than I was expecting. People were willing to pay top dollar for ESPN even as content slowed to a trickle. The studios will continue to contract. That could be pretty messy for a while. My inclination is Mulan for $30 won’t fair too well... But I’m open to being proven wrong. Cutting out the theatres means Disney could have pretty much half the gross and still make the same amount of money. If it works it would be liberating. COVID has made everything unpredictable. Mulan will be an exciting experiment! Expect Disney to push it hard.
So much unpredictability! Let’s keep our eyes on the parks. If they do anything to harm our Parks, let’s let them know!
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MerlinTheGoat
Well-Known Member
There’s sarcasm...font?!
DisneyDebRob
Well-Known Member
the.dreamfinder
Well-Known Member
It pays to have a rainy day fund after all the parks have been through over the decades.
There’s sarcasm...font?!
Lots of fonts (though a lot less than there used to be)...
Fonts
You can use other fonts than the given ones in the drop down menu. Easiest way to do so is to highlight text and chose any font. For simplicity chose Arial. Then click on the gear in the formatting bar to go to UBB code. Then, where you see "Arial", replace it with a valid font. See list in the...
TheDisneyDaysOfOurLives
Well-Known Member
- In the Parks
- Yes
Lots of fonts (though a lot less than there used to be)...
Fonts
You can use other fonts than the given ones in the drop down menu. Easiest way to do so is to highlight text and chose any font. For simplicity chose Arial. Then click on the gear in the formatting bar to go to UBB code. Then, where you see "Arial", replace it with a valid font. See list in the...forums.wdwmagic.com
Man, COVID-19 is even causing cuts to WDWMagic's budget? What's next, less smiles?!
Brer Oswald
Well-Known Member
Well noted!Lots of fonts (though a lot less than there used to be)...
Fonts
You can use other fonts than the given ones in the drop down menu. Easiest way to do so is to highlight text and chose any font. For simplicity chose Arial. Then click on the gear in the formatting bar to go to UBB code. Then, where you see "Arial", replace it with a valid font. See list in the...
the.dreamfinder
Well-Known Member
Lots of fonts (though a lot less than there used to be)...
Fonts
You can use other fonts than the given ones in the drop down menu. Easiest way to do so is to highlight text and chose any font. For simplicity chose Arial. Then click on the gear in the formatting bar to go to UBB code. Then, where you see "Arial", replace it with a valid font. See list in the...
I can’t see Iger lasting through the end of the year. It’s The Chapek Show now.