Disney’s Q1 FY24 Earnings Results Webcast

[el_super]

You still don't get it. The biggest single source of revenue in Experiences (WDW) isn't "killing" it. And questions were asked about the health of the parks, by BOA no less. They were deflected.

Can you paste the comment here. I can't seem to find any place where BOA asked about the health of Walt Disney World.

Again, you can't keep chasing declining attendance / resort bookings with higher prices / reduced offerings and claim business is booming.

You got it backwards. Prices aren't going up because attendance is dropping. Attendance is dropping because prices are going up. That isn't an indication of DEMAND dropping. If demand is still strong, and people are willing to pay the higher prices, they win on revenue (which they have been). It seems they are attributing the modest drop in operating income to rising cost and inflation (which absolutely makes sense).

Also worth pointing out that operating income for the quarter was only down 2% or about 35 million. Not much to write home about.

 

[MisterPenguin]

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You, too, should send a letter to the SEC.

 

[Trauma]

You, too, should send a letter to the SEC.

Why?

Bob did nothing wrong.

He is a master of spin and deflection.

It’s why you love him so much.

 

[Laketravis]

You got it backwards. Prices aren't going up because attendance is dropping. Attendance is dropping because prices are going up. That isn't an indication of DEMAND dropping. If demand is still strong, and people are willing to pay the higher prices, they win on revenue (which they have been). It seems they are attributing the modest drop in operating income to rising cost and inflation (which absolutely makes sense).

Also worth pointing out that operating income for the quarter was only down 2% or about 35 million. Not much to write home about.

I sincerely hope you never risk starting your own business.

 

[el_super]

He is a master of spin and deflection.

Apparently "normal course of business" counts as spin and deflection when it doesn't go the way some want.

Sorry about all the good news.

 

[Trauma]

Apparently "normal course of business" counts as spin and deflection when it doesn't go the way some want.

Sorry about all the good news.

 

[MisterPenguin]

Why?

Bob did nothing wrong.

He is a master of spin and deflection.

It’s why you love him so much.

Ladies and gentlemen of the jury. May I remind you that the witness is on record as wanting the Walt Disney Company to fail so spectacularly that Bob Iger is immediately ousted from the company.

Let that, in your mind, color the witness's declarations.

 

[Nubs70]

Steelers' ownership has been pretty set on a road game in Ireland. My guess is the league goes with the Packers, unless they absolutely force the Steelers to do it.

Think of all the immunizations they are going to need to get.

 

[Sharon&Susan]

I don't know, Swifties are a rabid fanbase. The topic of the concert was brought up at work today, and two people said they would subscribe just so they could watch the concert every few weeks to tide them over until they could see her live again.

Would your coworkers stay subscribed to Disney+ if an option to buy became available a month or two afterwards? I see her next US concert (sorry, if this is a bad assumption on your location) isn't until October, so that's a good amount of money spent on a streaming service, even if they use the ad-supported tier, to just watch one thing every so often.

 

[Disstevefan1]

You, too, should send a letter to the SEC.

Na, my job is posting stupid things on message boards.

TWDC will do what it will do and nothing I say will make a difference.

 

[BrianLo]

DCL is a great business. The actual value for the consumer I question, but I guess when your benchmark is only a WDW vacation it does offer elevated luxury for the price. I do moderately follow the cruise industry and DCL is certainly not my preferred. But there is a lot of opportunity for its expansion. No it doesn’t need 25-30 ships, but it could certainly use a few more.

They’ve expanded the Caribbean to two private islands and I know from RCL that’s their highest source of guest satisfaction across their entire (worldwide) ports they visit and conveniently captures all guest revenue for the port day.

Comcast is taking the local park route, which is fine I guess. But instead of a watered down product, DCL is how you bring the P&R experience to hungry local markets, without taking on the full risk of a limited population pool or bad seasonal weather.

DCL is how you take the market to Vancouver and Sydney (via the literal same investment). It’s a solid business and one that can support 12-15 ships, but not 12-15 in just the Caribbean like RCL.

The DCL adventure is just a start of that Asian market, but easily you could homeport a ship in Tokyo, Hong Kong and Shanghai as well. A couple ships in Europe, probably two swinging between Alaska (Van x1, Seattle x1) and Australian seasons (Sydney, Brisbane, Auckland), etc.

 

[Andrew C]

I plead the 5th since I don’t know a single Swift song.

Considering the demographic in love with her I would assume mindless drivel.

That’s fine though it’s not like Aerosmith lyrics had any depth to them.

To be fair, many people from all backgrounds/demographics have said her recent tour is the best show they have ever seen..and not just a few, it is a consistent point people continue to make. If Disney can capture that type of performance in an attraction (not to say a roller coaster like rnrc is the best way to do that)....

 

[Trauma]

Ladies and gentlemen of the jury. May I remind you that the witness is on record as wanting the Walt Disney Company to fail so spectacularly that Bob Iger is immediately ousted from the company.

Let that, in your mind, color the witness's declarations.

Well since he has no plans of ever leaving what else am I suppose to hope for?

I don’t wish bad health for him.

It seems he will have to be dragged out kicking and screaming.

 

[Trauma]

To be fair, many people from all backgrounds/demographics have said her recent tour is the best show they have ever seen..and not just a few, it is a consistent point people continue to make. If Disney can capture that type of performance in an attraction (not to say a roller coaster like rnrc is the best way to do that)....

Well if it’s better than Freddie Mercury at live aid then I’m impressed.

I just think that’s unlikely.

 

[MisterPenguin]

Well since he has no plans of ever leaving what else am I suppose to hope for?

People keep saying this as if he didn't already leave once.

It can happen.

 

[Trauma]

People keep saying this as if he didn't already leave once.

It can happen.

He only left cus he saw Covid coming and wanted to preserve his legacy.

That alone speaks volumes about the man.

Parading around like a lion with the heart of a coward.

He is a Wizard of Oz character.

 

[Indy_UK]

DCL is a great business. The actual value for the consumer I question, but I guess when your benchmark is only a WDW vacation it does offer elevated luxury for the price. I do moderately follow the cruise industry and DCL is certainly not my preferred. But there is a lot of opportunity for its expansion. No it doesn’t need 25-30 ships, but it could certainly use a few more.

They’ve expanded the Caribbean to two private islands and I know from RCL that’s their highest source of guest satisfaction across their entire (worldwide) ports they visit and conveniently captures all guest revenue for the port day.

Comcast is taking the local park route, which is fine I guess. But instead of a watered down product, DCL is how you bring the P&R experience to hungry local markets, without taking on the full risk of a limited population pool or bad seasonal weather.

DCL is how you take the market to Vancouver and Sydney (via the literal same investment). It’s a solid business and one that can support 12-15 ships, but not 12-15 in just the Caribbean like RCL.

The DCL adventure is just a start of that Asian market, but easily you could homeport a ship in Tokyo, Hong Kong and Shanghai as well. A couple ships in Europe, probably two swinging between Alaska (Van x1, Seattle x1) and Australian seasons (Sydney, Brisbane, Auckland), etc.

That’s actually a really good way of thinking about it which I hadn’t thought before. You’re putting a more premium Disney experience in parts of the world that don’t have parks. I had always saw it more of a posh step up from those who go to the parks.

Once that Global Dream ship goes to Asia that when I will seriously look at how it will allow me to fresh out a single trip to do the Cruise and all 3 parks

 

[MisterPenguin]

If Iger should've been drummed out of Disney when the stock hit $88, what should happen now that it closed today at $110?

 

[JoeCamel]

If Iger should've been drummed out of Disney when the stock his $88, what should happen now that it closed today at $110?

View attachment 767441

Magician's smoke and mirrors award?

 

[Trauma]

If Iger should've been drummed out of Disney when the stock his $88, what should happen now that it closed today at $110?

View attachment 767441

I really wish I had more time today to have it out with you over Iger. I don’t understand you at all.

The man is horrible for the parks.

Disney to me is parks and animation.

Disney stock is soaring on Taylor Swift and Fortnite.

What the actual F is going on here?

The parks are a complete afterthought.

They are the FREAKING CROWN JEWEL of the company and are being abused by Iger for his dreams of Empire.

The parks should be adequately staffed.

Maintenance and customer service should be world class.

Rides should be maintained to the highest level.

Capacity issues should be addressed immediately with massive additions.

I know what you’re going to say and I don’t want to hear it.

Some magical thinking that once D+ is profitable Iger is suddenly going to pivot to the parks and all will be made right.

Sorry not buying it. He would rather acquire more entertainment assets to grow his media Empire so that when he finally falls over dead he will go down in History as the architect of Disney, who’s name will be remembered next to Walt’s.

Meanwhile I would just like a replacement for Stitch or a working refrigerator in my Grand Villa or something more than a magnet to show they give 2 poops about any of us.