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

[Inspired Figment]

How much longer do we have to wait for an expansion announcement mainly at AK

Truth be told, if any park needs more expansion & more attractions, it’s Disney’s Hollywood Studios

 

[Sirwalterraleigh]

Truth be told, if any park needs more expansion & more attractions, it’s Disney’s Hollywood Studios

All 4 do in varying ways…the last ceo didn’t put in the proper levels of crowd management to handle the natural increase in travel during his tenure. It only gets worse everyday

 

[MisterPenguin]

Well it just wasn't the same without constant talk of "robust content pipelines", "strategic pillars," "Genie+", and "Yield Management."

I kid

I didn't like everything that was said, but listening to Iger is infinitely better than Chapek.

It's sad to hear such an unfavorable activation from you, Steve.

 

[fgmnt]

The smart play is to pump up ESPN…then dump it while it still has perceived value…

In the future all sports broadcasts other than perhaps the nfl will be direct to consumer…which leaves national sports networks obselete.

ESPN has sucked for 15+ years anyway

Watching how live sports rights will play out over the next decade+ will be interesting to follow. I don't think the money people were ready for RSNs to collapse like Sinclair/DSG/Bally is about to. I think 15 years ago you could say it would happen eventually, but you wouldn't expect it to be this imminent in 2023. On the complete opposite side of college athletics, everyone has seen the decline of power the NCAA holds coming but I don't know if it will be recognizable by 2030. These things, on top of D2C/PPV success will have significant knock on effects in Bristol.

 

[Sirwalterraleigh]

It's sad to hear such an unfavorable activation from you, Steve.

Read the cnn summary I posted upthread…not enough lipstick around to cover this one.

Nothing in there for Disney fans…actual Disney fans…especially park fans. The money is cut off

 

[SteamboatJoe]

Truth be told, if any park needs more expansion & more attractions, it’s Disney’s Hollywood Studios

In terms of number of attractions, yes, but I think some of that is counterbalanced by the fact that the attractions it does have feature some of the company's biggest IP franchises and thus can draw in good sized crowds, especially when you factor in Fantasmic! World Showcase has always struck me as the area that needs more attractions. It's so unbalanced. Mary Poppins was an easy win and they pulled the plug on it.

 

[MadderAdder]

Truth be told, if any park needs more expansion & more attractions, it’s Disney’s Hollywood Studios

They could at least open the shuttered shops!

 

[Sirwalterraleigh]

In terms of number of attractions, yes, but I think some of that is counterbalanced by the fact that the attractions it does have feature some of the company's biggest IP franchises and thus can draw in good sized crowds, especially when you factor in Fantasmic! World Showcase has always struck me as the area that needs more attractions. It's so unbalanced. Mary Poppins was an easy win and they pulled the plug on it.

Studios is poorly executed…and fantastic is a dinosaur…

Don’t see how that’s a “strong” park at all?

 

[Tha Realest]

The Disneyland announcement or mention was a surprise in itself.

I’m not hopeful. They described it as an experience - not an attraction or a ride.

 

[doctornick]

As I look over the report, for Disney+ the revenue per subscriber went down in the past quarter compared to the previous quarter both domestically and internationally (excluding Hotstar which actually went up per sub). I know the price increases on happened in the last month of 2022 but I find this a little surprising. Did they talk about the cause? One thing I can think is maybe more people signed up for annual subs (lower costs per month) in order to avoid the price hike. Or is it from more "included" subs from stuff like Verizon Wireless which are surely at a lower rate than just someone buying directly from Disney.

Edit: Okay, I missed where they explained it. The domestic decrease seems to be from more people getting the "bundle" which lowers the revenue for an individual service. The international revenue was lower due to a worse exchange rate.

 

[Sirwalterraleigh]

I’m not hopeful. They described it as an experience - not an attraction or a ride.

And as we know…”experience” is a hall pass for them not to meet standards…because YOU are the magic

Seriously though…I see speculation is launch bay…which is easy and makes sense under the circumstances

 

[Sirwalterraleigh]

As I look over the report, for Disney+ the revenue per subscriber went down in the past quarter compared to the previous quarter both domestically and internationally (excluding Hotstar which actually went up per sub). I know the price increases on happened in the last month of 2022 but I find this a little surprising. Did they talk about the cause? One thing I can think is maybe more people signed up for annual subs (lower costs per month) in order to avoid the price hike. Or is it from more "included" subs from stuff like Verizon Wireless which are surely at a lower rate than just someone buying directly from Disney.

View attachment 697247

They lost subscribers…that was kinda glossed over…

But why it went down per? I have no idea

This report is not good. There are no growth indicators in it to be found.

The only thing that becomes clear - as I feared - is iger’s own @rse is his highest priority. The dividend is either ill advised or a smoke screen. Neither is good

 

[CastAStone]

As I look over the report, for Disney+ the revenue per subscriber went down in the past quarter compared to the previous quarter both domestically and internationally (excluding Hotstar which actually went up per sub). I know the price increases on happened in the last month of 2022 but I find this a little surprising. Did they talk about the cause? One thing I can think is maybe more people signed up for annual subs (lower costs per month) in order to avoid the price hike. Or is it from more "included" subs from stuff like Verizon Wireless which are surely at a lower rate than just someone buying directly from Disney.

View attachment 697247

It’s because more people moved to the Disney Bundle which allocates less to D+

 

[Sirwalterraleigh]

View attachment 697248
It’s because more people moved to the Disney Bundle which allocates less to D+

(2.4) isn’t what will keep the traders happy

 

[Serpico Jones]

James Stewart threw some major cold water on this earnings report on CNBC a few hours ago. He seems to think Peltz has a good chance of joining the board and “dismantling Iger’s legacy“.

 

[CastAStone]

James Stewart threw some major cold water on this earnings report on CNBC a few hours ago. He seems to think Peltz has a good chance of joining the board and “dismantling Iger’s legacy“.

I think it’s pretty clear Disney thinks that Peltz has a real shot. What a nightmare that would be.

 

[Sirwalterraleigh]

James Stewart threw some major cold water on this earnings report on CNBC a few hours ago. He seems to think Peltz has a good chance of joining the board and “dismantling Iger’s legacy“.

I don’t think Stewart is an Iger fan

I think Peltz has enough hedge backing to put a 30% dent in Iger…essentially forcing his resignation.
He wouldn’t have started this without the horses.

Which explains iger’s dividend “announcement”…which is buying him 10 months

It’s a “blue sky” dividend…so you don’t owe in his “blue ocean”

 

[CastAStone]

I think Peltz has enough hedge backing to put a 30% dent in Iger…essentially forcing his resignation.

This isn’t Disney War. Totally different circumstances. Iger will not be forced to resign even if Peltz wins his seats.

 

[Sirwalterraleigh]

I think it’s pretty clear Disney thinks that Peltz has a real shot. What a nightmare that would be.

See…here’s the thing about Peltz…

He’s rough…typical New York dirtbag…but look up his history. He’s a major gunner

 

[castlecake2.0]

Well that was a bust