PhotoDave219
Well-Known Member
....... Gains offset by higher pre-opening expenses for Shangai.
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A Spirited Perfect Ten
- Thread starter WDW1974
- Start date
PhotoDave219
Well-Known Member
Q&A session....
RE: ESPN Subs Clarification from last call: Bob has nothing to retract/change on ESPN sub fees, says just changed guidance & expectation and was candid about sub loses. "We feel there is no reason to panic over comments like that.... We have an opportunity to distribute our content in many different ways then we have before." Pimped ratings - of the top 50 rated cable shows, 26 were ESPN. Nothing to add. Feel bullish and think have longterm opportunities. (Ed Note: Ask my friends at Grantland)
From JP Morgan - Asking to quantify Consumer Products expectation on Star Wars.
Ed Note: Call dropped.
RE: ESPN Subs Clarification from last call: Bob has nothing to retract/change on ESPN sub fees, says just changed guidance & expectation and was candid about sub loses. "We feel there is no reason to panic over comments like that.... We have an opportunity to distribute our content in many different ways then we have before." Pimped ratings - of the top 50 rated cable shows, 26 were ESPN. Nothing to add. Feel bullish and think have longterm opportunities. (Ed Note: Ask my friends at Grantland)
From JP Morgan - Asking to quantify Consumer Products expectation on Star Wars.
Ed Note: Call dropped.
PhotoDave219
Well-Known Member
Call up again.
More talk on Cable subs. Suggesting that young people not signing up for cable like they used to. (Police sirens going by). RE Star Wars? Pleased with earned 9% licensing revenue of Star Wars merch but thats the Classic Merch. Ep7 Merch will not allowed to be counted accounting wish until movie comes out so that will be in Q1FY16 DCP revenue.
BOA asks about Hulu & Investments. Also Shanghai Update? Said Hulu can talk about that. Shanghai - havent changed expectations. Decided to build a larger park since groundbreaking, causing delays. Glad about larger park. Currently thinking opens spring 16 and sometime between now and 12/31 announce calendar date. Still impressed about buzz. He was there last week and three weeks before that. (Ed note: Wheres the photo?!) Big event, love what it represents. Great opportunity to grow biz in Asia and China.
Neumora asks layoffs at ESPN, how they should be interpreted, whether thats something that should be necessary for rights increases? Viewed as "not connected" to health of ESPN. (Ed Note: Dodged Question)
More talk on Cable subs. Suggesting that young people not signing up for cable like they used to. (Police sirens going by). RE Star Wars? Pleased with earned 9% licensing revenue of Star Wars merch but thats the Classic Merch. Ep7 Merch will not allowed to be counted accounting wish until movie comes out so that will be in Q1FY16 DCP revenue.
BOA asks about Hulu & Investments. Also Shanghai Update? Said Hulu can talk about that. Shanghai - havent changed expectations. Decided to build a larger park since groundbreaking, causing delays. Glad about larger park. Currently thinking opens spring 16 and sometime between now and 12/31 announce calendar date. Still impressed about buzz. He was there last week and three weeks before that. (Ed note: Wheres the photo?!) Big event, love what it represents. Great opportunity to grow biz in Asia and China.
Neumora asks layoffs at ESPN, how they should be interpreted, whether thats something that should be necessary for rights increases? Viewed as "not connected" to health of ESPN. (Ed Note: Dodged Question)
PhotoDave219
Well-Known Member
Bob talking about relationship with Netflix and selling shows to Netflix like How to get away with Murder and some Marvel shows. Discussing flexibility
From UBS.... Talking about DisneyLife and why the UK first as well as overlap? 1 - Strong Disney Market. Using UK as text market. 2 - Looking at what is available to put on platform rights contract wise. Has a lot to do with relationship with SKY in UK. "Outside of the stores and the theme parks... most people who buy disney, buy through third parties. We have a chance to reach our customers directly."
RBC Capital Markets - (Rambling kissing question.) Bob starts talking about Steve Jobs and Jobs starting with the consumer and working back with technology. Talking about DisneyLife.
From UBS.... Talking about DisneyLife and why the UK first as well as overlap? 1 - Strong Disney Market. Using UK as text market. 2 - Looking at what is available to put on platform rights contract wise. Has a lot to do with relationship with SKY in UK. "Outside of the stores and the theme parks... most people who buy disney, buy through third parties. We have a chance to reach our customers directly."
RBC Capital Markets - (Rambling kissing question.) Bob starts talking about Steve Jobs and Jobs starting with the consumer and working back with technology. Talking about DisneyLife.
PhotoDave219
Well-Known Member
Yes, yes it is. I'm waiting for a Star Wars question.
PhotoDave219
Well-Known Member
Morgan Stanley - Currency question. Talking Domestic Affiliate Revenue Growth. Christine talking. (Ed. Note: Someone poured a drink over ice next to the phone. Cant blame them). Wont give guidance on that growth.
Citibank asking Bob about IP - How do you know when you've had enough? How much can you effectively monetize? Buying/Making? Bob, on Making More - youre making too much when theres fatigue and theyve had enough or the quality goes down. Havent seen that. Pimps Inside Out, Good Dinosaur and Finding Dory. Pimps Avengers 2. Pimps Cap America 3 & that pipeline. Star Wars, we're just getting into but we're planning a SW release a year for the next 6 years. Rogue One (12/16) Dont think oversaturated, if anything we're well balanced in taking these products to market. Pimps The oscar wins. Pimps Zootopia in 1QFY16. "Our pipeline is pretty rich"
16.9% park margins (not a record). (Ed note: Holy wow) Down due to HKDL & SDL.
Last question.....
FBR Cap Markets - rehashing the decline of ESPN Subs. Again. Any research on where the subs/declines could end? Where will it level off? A - "We're not going to make any predictions." "The market is continuing to evolve." The industry is going to respond with strong product. we feel really good about the positioning of ESPN Disney ABC. Play out over a very long period of time.
Citibank asking Bob about IP - How do you know when you've had enough? How much can you effectively monetize? Buying/Making? Bob, on Making More - youre making too much when theres fatigue and theyve had enough or the quality goes down. Havent seen that. Pimps Inside Out, Good Dinosaur and Finding Dory. Pimps Avengers 2. Pimps Cap America 3 & that pipeline. Star Wars, we're just getting into but we're planning a SW release a year for the next 6 years. Rogue One (12/16) Dont think oversaturated, if anything we're well balanced in taking these products to market. Pimps The oscar wins. Pimps Zootopia in 1QFY16. "Our pipeline is pretty rich"
16.9% park margins (not a record). (Ed note: Holy wow) Down due to HKDL & SDL.
Last question.....
FBR Cap Markets - rehashing the decline of ESPN Subs. Again. Any research on where the subs/declines could end? Where will it level off? A - "We're not going to make any predictions." "The market is continuing to evolve." The industry is going to respond with strong product. we feel really good about the positioning of ESPN Disney ABC. Play out over a very long period of time.
PhotoDave219
Well-Known Member
No Star Wars questions. Nothing beyond $$$$$$$ questions.
ford91exploder
Resident Curmudgeon
Hmm wonder how they got that 1% boost in PCGS (Can you say CM blackouts...) Even though attendance is up it does not seem that spending is tracking the attendance growth. Hmmmm
ford91exploder
Resident Curmudgeon
Lots of dodged questions by the Weatherman, Does not seem he wants to answer in detail on financial questions. Wonder how many quarters he continues to get a pass from The Street
PhotoDave219
Well-Known Member
Well I can only type so fast.... And I'm focusing on what we're interested in. Theme Parks. Star Wars. ESPN dominated the q&a, again.
It's like Wall Street analysts are shocked when people suggest their cable bill is too high and cut the cord.
ford91exploder
Resident Curmudgeon
Oh I'm listening to the call as well It really seems that Iger does not want to answer questions about the finances of TWDC.
I'm always amazed at the Wall St guys thinking that pricing is infinitely elastic, They make so much money that the cable bill price is lost in the underflow. Not like in middle america where if cable goes up it needs to be cut back or something else has to be sacrificed.
PhotoDave219
Well-Known Member
I did my yeoman's duty today. Someone else can do that one.
Cesar R M
Well-Known Member
how much of that could be attributed to the price hikes?
Cesar R M
Well-Known Member
clearly these people never went out of their ivory walled rich suburban towns.
AEfx
Well-Known Member
There is so much new footage there! I can't wait until someone does a final mash-up of all of them. Someone did a quite well-done version on YouTube of the first 3, so I hope the same guy edits this one in, too.
PhotoDave219
Well-Known Member
Ask our in-house financial analyst @parentsoffour.
My take? Any gains are artificial and due to pice hikes.