News Disney’s Fiscal Full Year and Q4 2021 Earnings Results Webcast

[sullyinMT]

its only been the low season too... imagine what the #s will be when the crowds return.

Like I said... people will pay.

The bad part I see in their approach is that it’s going to feel almost necessary. Especially to first, second, or first time in a long time guests. It will also eventually eat in to per capita spending when crowds are high. G+ for ride access during a heavy day, or that extra souvenir? That’s how families that have saved for months to years to take Harper for her “once in a lifetime” trip will think. And, where previous guests like that family might have been lured into DVC or at minimum a bounce back offer, they may well wait for Harper to like Harry Potter and do Hard Rock instead next time.

 

[Sirwalterraleigh]

The smaller portion size thing does not inspire confidence. It’s smacks of the Jimmy Carter “lower your thermostat, wear sweaters” type of leadership.

I don’t think Wall Street wants to be told that hefty dividends are on the way because Disney is cutting corners wherever they can.

You know what’s funny?

that speech was the most politically stupid and factually correct/predictive in history

it’s proven more correct everyday.

now back to regular programming

 

[Sirwalterraleigh]

The bad part I see in their approach is that it’s going to feel almost necessary. Especially to first, second, or first time in a long time guests. It will also eventually eat in to per capita spending when crowds are high. G+ for ride access during a heavy day, or that extra souvenir? That’s how families that have saved for months to years to take Harper for her “once in a lifetime” trip will think. And, where previous guests like that family might have been lured into DVC or at minimum a bounce back offer, they may well wait for Harper to like Harry Potter and do Hard Rock instead next time.

That was the problem with this from the start…mass/groupthink pressure to move the bar “upwards”

this is particularly genius of them…but it will work.

 

[aladdin2007]

I don't know but the studios today was a complete mess, of course tomorrow is a holiday so that may be part of it but people are spending bigtime. It bothers me that so many stores in the park are still shuttered, now they want to cut on food portions but charge more? where does the line get drawn? At the rate its going and by the way they are talking dont doubt that eventually you will have to pay to use the restroom. It also upset me seeing families turned away when they wanted to order food and were outright told no by cast members, unless its mobile order. too much red tape, too complicated, no freedom in the parks anymore. Its terrible. chapek is going to be the end of disney, at least as we knew it and liked it.

 

[sullyinMT]

The smaller portion size thing does not inspire confidence. It’s smacks of the Jimmy Carter “lower your thermostat, wear sweaters” type of leadership.

I don’t think Wall Street wants to be told that hefty dividends are on the way because Disney is cutting corners wherever they can.

I don’t disagree, but the portions can probably be cut back and few would notice. Especially since they’ve told us DDP will return in some form, a TS meal as it was constructed was obscene.

It’s the other part of that statement, about vendors and choices, that should have people worried. If they start serving Tony’s steaks at V&A, for example (I’m trying to be extreme).

 

[Slpy3270]

So Disney looks to have returned to profitability from last year and yet stock is likely to fall below $160?

I think someone needs to tell Wall Street and media executives that seeking tech company valuations is completely ludicrous considering how fundamentally different their business models are. AT&T learned that the hard way.

 

[celluloid]

Don't forget to buy your Foodie Plus account, which will allow you to get an extra spoonful of Mac and Cheese and one extra nugget at participating locations.

 

[mikejs78]

I was surprised it was as high as that. I would have guesstimated 15% to 20%

I'm just surprised that with only 33% uptake that return times go so fast... Unless they are not allocating nearly as much to G+ as they did to FP+....

Which makes me wonder - do they increase allocation as more guest purchase it, or during the busy season? Or will G+ completely be out of slots by 7:05 every day during Christmas week?

 

[Sirwalterraleigh]

Bob likes your money. End of story.

And increasingly appears to be in over his head

 

[RSoxNo1]

For Alaska in 2023, we’ll explore other lines. The price difference is becoming too difficult to ignore, as much as we love DCL.

Norwegian's Land and Sea itinerary for Alaska is substantially better than the Disney Wonder itinerary. We did the 14 day NCL trip a few years ago with guests from age 8 to 70 and each one of us said it was the best vacation we ever had.

Don't get me wrong, the Norwegian ship isn't as nice as a Disney ship but the price point and every other factor made it a far superior trip all in.

 

[cmb5002]

I was surprised it was as high as that. I would have guesstimated 15% to 20%

There could be some weaseling going on there too. It's unlikely it's (nearly) 1/3 of all guests every day, but 1/3 of guests who at some point in their visit (or over the lifetime of their annual pass) upgraded to Genie+ at least one time.

I think @Sandurz has it right. Just got back from an extended trip and chatting with some people in line it seemed to be something they were doing for a day or two, not their entire stay.

Honestly, I liked it, but mostly because it didn't negatively impact our trip like fp+ used to. We didn't pay a dime, and did everything we wanted several times through our stay just by rope dropping. The lines still move along pretty well.

Individual LL did burn us twice though. Once at the end of the day on 7dmt (had to bail on the line) and once on frostrom. One of the boats when down, standby ballooned to 120min after we were inside, and the LL line was out to the main concourse by the time we were finally got done.

 

[Sirwalterraleigh]

I'm just surprised that with only 33% uptake that return times go so fast... Unless they are not allocating nearly as much to G+ as they did to FP+....

Which makes me wonder - do they increase allocation as more guest purchase it, or during the busy season? Or will G+ completely be out of slots by 7:05 every day during Christmas week?

33% uptake doesn’t account for the crowd level…which appears to be “depressed” by most accounts. That’s the variable here.

 

[pdude81]

Well, the private parties are few and far between, we’ve never been there when one has gone on. The lounge really isn’t much more than soda these days, from what I’ve been told by my wife. I think there was a small snack available when I was last there, but I think those are gone at present.

You can still get the free cheese its FWIW

 

[Lilofan]

You can still get the free cheese its FWIW

And DVC free washer and dryer privileges unless that has been cut.

 

[sullyinMT]

Norwegian's Land and Sea itinerary for Alaska is substantially better than the Disney Wonder itinerary. We did the 14 day NCL trip a few years ago with guests from age 8 to 70 and each one of us said it was the best vacation we ever had.

Don't get me wrong, the Norwegian ship isn't as nice as a Disney ship but the price point and every other factor made it a far superior trip all in.

Thanks! Not to derail further, but Encore is an option based on how I already know that summer’s schedule lays out for us.

I’d love to do a land/sea, but can’t be away from work that long. Luckily we can weekend/summer week in Glacier and Banff, so we get plenty of natural beauty by land!

 

[niteobsrvr]

"McCarthy said, "I was talking to our parks senior team about things that we could do there. There are lots of things that are worth talking about. We can adjust suppliers. We can substitute products. We can cut portion size which is probably good for some people's wastelines."

Did Disney just permit an exec to publicly fat shame people? What happened to Diversity and Inclusion?

 

[Jabbas]

What a crock.

 

[celluloid]

"McCarthy said, "I was talking to our parks senior team about things that we could do there. There are lots of things that are worth talking about. We can adjust suppliers. We can substitute products. We can cut portion size which is probably good for some people's wastelines."

Did Disney just permit an exec to publicly fat shame people? What happened to Diversity and Inclusion?

Yep. It is the type of nastiness the company has brought from top leadership. Also, to the article editor [waist]

 

[OceanBlue]

It really is something that a CFO said they would cut portion size on a public earnings call.

 

[celluloid]

It really is something that a CFO said they would cut portion size on a public earnings call.

The Hubris of the era. A major reason why their result was that short from the Wall Street estimate.