2023 Walt Disney Company Annual Meeting Of Shareholders

[MagicHappens1971]

MK does not need expansion though. The other parks need attractive expansion to shift guests from MK

I think this is a point of contention between fans on here. No expansion is going to shift guests from MK, we’ve seen that with Pandora, Galaxy’s Edge, TSL, it has increased attendance at those parks, but not taken away from MK. Disney should expand at MK to increase the parks capacity as its popularity amongst the 4 parks had never wavered. DAK & DHS could still do with another “attractive” expansion to help flush out their capacity.

 

[ParentsOf4]

$17B investment in WDW over 10 years.

Domestic Parks & Resorts capex totaled $21.3B for the last 10 years. Domestic Parks & Resorts depreciation was $13.7B over these same 10 years, meaning investment capex was $7.6B. Although these numbers include DLR and DCL, the overwhelming majority of capex is at WDW (as is the overwhelming majority of Parks & Resorts domestic revenue and depreciation).

Adjusting depreciation for inflation, $17B for the next 10 years is a drop in WDW investment compared to the previous 10 years.

 

[Rteetz]

Domestic Parks & Resorts capex totaled $21.3B for the last 10 years. Domestic Parks & Resorts depreciation was $13.7B over these same 10 years, meaning investment capex was $7.6B. Although these numbers include DLR and DCL, the overwhelming majority of capex is at WDW (as is the overwhelming majority of Parks & Resorts domestic revenue and depreciation).

Adjusting depreciation for inflation, $17B for the next 10 years is a drop in WDW investment compared to the previous 10 years.

Given the talk and actual announcements of investment in DL and DCL would you not anticipate that total domestic Capex number to go up for the next 10 years?

If Iger is accurate in $17B for WDW alone, we have already announced plans for Disneyland in Avatar projects as well as a supposed Marvel attraction. Let alone anything else that may happen there in 10 years. The Disneyland 70th would be in that 10 years. Moving over to DCL we have Treasure coming next year and then Global Dream and the 7th unnamed ship.

Not saying there will be a new gate or something but expansion is not out of the realm. He also said 13,000 jobs which isn't a small number and those people would have to work somewhere at WDW. Yes that could include the new campus in Lake Nona but even then thats maybe a third of that 13,000 at its highest? In terms of new jobs that is.

 

[Touchdown]

I would argue something different, nothing is going to stop WDW visitors from visiting the MK on their visit, however, you can peel off revisits on a standard week long visit. Right now on my 6 day trips, I visit MK and Epcot 2 days, 1.5 days at DHS, and 0.5 days at AK. If it’s warm enough I will spend a morning at each water park, at the expense of a morning at Epcot and MK (way to go Disney not having both open in a few weeks, I’m at MK more because of it) likewise if AK ever gets it’s night show back, I will attend that and lose a night at the park with my least favorite night show at the moment.

 

[ToTBellHop]

MK does not need expansion though. The other parks need attractive expansion to shift guests from MK

It would seem WDPR have data suggesting otherwise.

 

[Magenta Panther]

Truthfully that isn’t much of (if not at all) an improvement. Having Lotso Huggin’ Bear in charge over at Sunnyside Corporate Company over his more open/honest counterpart without his fake/insincere cover on doesn’t fix anything.

I really doubt that Iger would have reacted to certain issues any differently than Chapek did. He's just as much of a tone-deaf chump, despite all his smooth talk. And it's pretty galling of him to take credit for stuff Walt did. Walt built his company's reputation for quality, for wholesome family values, for respect for the park guest. Iger has done a great deal of damage to all of that. I'll cheer the day he leaves Disney, then worry about his successor, because I have little hope that it'll be an improvement.

 

[Inspired Figment]

I really doubt that Iger would have reacted to certain issues any differently than Chapek did. He's just as much of a tone-deaf chump, despite all his smooth talk. And it's pretty galling of him to take credit for stuff Walt did. Walt built his company's reputation for quality, for wholesome family values, for respect for the park guest. Iger has done a great deal of damage to all of that. I'll cheer the day he leaves Disney, then worry about his successor, because I have little hope that it'll be an improvement.

Hoping & praying we ‘won’t’ have to worry about his successor. Whoever that may be.

 

[jpeden]

It would seem WDPR have data suggesting otherwise.

I would agree. You could add three full fledged lands to AK and DHS each and fully build out world showcase and you aren’t going to shift visits from MK.

 

[ToTBellHop]

I would agree. You could add three full fledged lands to AK and DHS each and fully build out world showcase and you aren’t going to shift visits from MK.

Agreed. If MK could fit more guests without being unpleasant, I presume they have data suggesting more people would come. And they are likely to visit at least one other park at WDW while they’re in town. It’s worth their while if they want to expand the customer base.

 

[djkidkaz]

I think adding the reservation system and cutting capacity was the biggest shift in control Disney has against fighting the crowding at MK. What is interesting is that even with cutting the amount of people in the park the lines are just as long as they ever were when there was no reservation system. So that tells you the problem is somewhere else. It would now seem the only other option is the Genie + and Lightning Lanes causing the lines to be longer. How else do you explain less people in the park and lines just as long if not longer?

 

[Animaniac93-98]

Agreed. If MK could fit more guests without being unpleasant, I presume they have data suggesting more people would come.

They could start by reopening the things they decided to close at the park.

 

[Magic Crush Drop]

Do shareholder proposals ever get approved?

very rarely

 

[Magic Crush Drop]

Nobody cares how big of a Disney fan you are dude. ask your question

At least it's not as bad as other years.

 

[wtyy21]

I forgot to share us that during the meeting, Disney 100 tradition special look has been released.

 

[GhostHost1000]

I think adding the reservation system and cutting capacity was the biggest shift in control Disney has against fighting the crowding at MK. What is interesting is that even with cutting the amount of people in the park the lines are just as long as they ever were when there was no reservation system. So that tells you the problem is somewhere else. It would now seem the only other option is the Genie + and Lightning Lanes causing the lines to be longer. How else do you explain less people in the park and lines just as long if not longer?

so many things in play, but some of them include more ride downtime causing more bottlenecks, and of course lack of attraction expansion in other parks to draw people away from MK.

When families pay an extreme amount to visit a theme park, they have to feel like they can get their moneys worth and MK has more attractions and entertainment than the other 3 parks.

MK’s popularity will always be there, but they really need to add more family rides to the other parks as well

 

[cjkeating]

Maybe they should take a leaf out of Tokyo Disneyland's book which pre-COVID on multi-day tickets enforced a visit to Disneyland and DisneySea before the third and any additional days.

For example a 4 day ticket would be one visit to each WDW park. A fifth day would be your choice or where to revisit.

Taking this a step further any additional days up to 8 you couldn't repeat a park more than twice until day 9.

 

[TrainsOfDisney]

Maybe they should take a leaf out of Tokyo Disneyland's book which pre-COVID on multi-day tickets enforced a visit to Disneyland and DisneySea before the third and any additional days.

For example a 4 day ticket would be one visit to each WDW park. A fifth day would be your choice or where to revisit.

Taking this a step further any additional days up to 8 you couldn't repeat a park more than twice until day 9.

For Walt’s sake no. Don’t make things complicated for the guest. The solution is to expand capacity to properly accommodate guests!!! It’s that simple.

 

[fgmnt]

The Magic Kingdom is the most popular tourist destination in the world but I'm pretty sure Disneyland beats it on attraction density. Disney does not build castle parks like they used to so that is why people are resistant to the idea that MK should probably get outsized capital investment compared to the other 3 Orlando parks.

 

[TrainsOfDisney]

The Magic Kingdom is the most popular tourist destination in the world but I'm pretty sure Disneyland beats it on attraction density.

And live entertainment. Disneyland has actually cut down and they still have way more live entertainment.

Dapper Dans
Bootsrappers
Disneyland Band
Pearly Band
New Orleans Jazz Band
Strawhatters
Coke Corner Piano
Golden Horseshoe Puano
Tales of the Lion King
Fantasyland Royal Theatre

Compared to -

Dapper Dans
WDW Philharmonic
Casey Corner Piano
Castle Show

 

[CaptainMickey]

The 5th gate at WDW should just be an exact copy of The Magic Kingdom, maybe a different castle. It would instantly be more visited then Epcot, DHS and AK.