Disney’s Q1 FY23 Earnings Results Webcast - Wednesday, Feb 8, 2023

[Andrew C]

Iger's comments on parks are interesting. It does sound like investment is coming.

Towards IP...

 

[Ghost93]

Bob - We are going to bring Avatar to Disneyland and we have other opportunities and I talked to Josh D'Amaro about this, recently, this morning to carefully look at all the great franchises of the company, and see where we can invest in them in the parks to increase capacity, while preserving guest satisfaction.

Tom Sawyer's ISLAND!! I can't believe I didn't think of this earlier. Tom Sawyer's Island is TOTALLY going to be rethemed to Pandora. It's the only place with significant space for it in Disneyland.

And in Magic Kingdom, the Coco/Encanto/Villains land seems guaranteed to increase capacity and guest satisfaction.

 

[MisterPenguin]

Reports say that Disney+ lost subscribers for the first time ever...?

Yes, mostly in Hotstar+ India.

Other regions are up.

Revenue is up.

Expense is down.

Everything is going as planned.

 

[Magenta Panther]

Hearing Iger talk about quality on the screen just goes to show this is all about selling snake oil. Marvel is widely acknowledged as having poor effects work in series and features, an embarrassing amount considering their box office record.

He’s banking on audiences showing up and forking over more money in the future based on recognizable franchise brands and “good” content. So how is that any different than what Disney has done for the last ten years?

Exactly. Iger is still counting on people's nostalgia and affection for Disney to accept anything the company dishes out. That's why we're getting more sequels to past hits. That's why the company puts the Old Dead Guy on t-shirts while maligning, reworking and cancelling some of his most popular creations. Cynical as hell.

 

[TalkingHead]

Ron’s gonna be disappointed he didn’t get a mention today. When he eventually raises taxes on churros, we’ll know why.

 

[Animaniac93-98]

Bob - Demand of the parks is extraordinary now. We can lean into the demand easily by letting more people in, and by more aggressively pricing... we don't think either would be smart.

MORE agressively pricing?

There's already a number of dates this year where a one-day ticket to MK is like $175 per adult, after tax.

 

[Notes from Neverland]

I welcome park expansions - keyword is expansion - even if it's full of IP. Just have it make sense. This seems like a brighter future for parks fans than Chapek's goal to seemingly let the parks stagnate while increasing prices.

 

[HauntedPirate]

Yes, mostly in Hotstar+ India.

Other regions are up.

Revenue is up.

Expense is down.

Everything is going as planned.

 

[CastAStone]

Reports say that Disney+ lost subscribers for the first time ever...?

True, but they only last 2.4 million versus the Wall Street expectation of losing 3.1 million.

 

[Rteetz]

MORE agressively pricing?

There's already a number of dates this year where a one-day ticket to MK is like $175 per adult, after tax.

Iger did make note that they continue to evaluate their pricing and changed things like the number of days they have at the lowest price to more than it was. He also referenced changes they have made to help offset costs. I took that to mean changes like removing parking fees.

 

[CastAStone]

Iger's comments on parks are interesting. It does sound like investment is coming.

That was the highlight of the call for me!

 

[hopemax]

So D23 Expo 2024 is going to be a doozy isn't it? Several references to this year is already committed, and will play out however it will play out. So 2024 is where its at.

 

[MisterPenguin]

MORE agressively pricing?

There's already a number of dates this year where a one-day ticket to MK is like $175 per adult, after tax.

And if they raised it... it would be paid.

But Bob recognizes the general ill will that would raise.

Better to have cheaper park tickets and expensive upsells.

 

[Ayla]

MORE agressively pricing?

There's already a number of dates this year where a one-day ticket to MK is like $175 per adult, after tax.

He's saying they aren't going to do that.

 

[Animaniac93-98]

Iger did make note that they continue to evaluate their pricing and changed things like the number of days they have at the lowest price to more than it was.

Not nearly enough just browsing through the WDW ticket calendar.

 

[HauntedPirate]

I welcome park expansions - keyword is expansion - even if it's full of IP. Just have it make sense. This seems like a brighter future for parks fans than Chapek's goal to seemingly let the parks stagnate while increasing prices.

Where do you think Bob 2.0 learned that lesson? (Hint: He's the one speaking to investors today) If NextGen had done what it was promised to do, I guarantee the amount of money spent (and misspent) in the parks would have been significantly less.

 

[Rteetz]

Not nearly enough just browsing through the WDW ticket calendar.

He claimed they went from like 15 to 50.

 

[Animaniac93-98]

He's saying they aren't going to do that.

I know that.

I'm just saying it's a ridiculous thing to say given the current prices on park tickets. They're already overpriced.

Trying to pass off the current prices as some sort of generous restraint on the company's part is absurd.

 

[Dranth]

Iger's comments on parks are interesting. It does sound like investment is coming.

He specifically called out increasing capacity which at least leaves the door open for new things, not only replacements.

 

[MisterPenguin]

He specifically called out increasing capacity which at least leaves the door open for new things, not only replacements.

Bigger parking lots.