Disney’s Q1 FY24 Earnings Results Webcast

[monothingie]

Good earnings call. D+ profitability is now most assured. Particularly in light of forward guidance for kind of sizeable subscriber growth. That’s the big thing, whether subscribers were going to shrink substantially to offset the price increases.

ARPU will move more significantly next quarter due to the price increases mostly occurring late in this last one.

Production expenses in streaming and studios may still be and may continue to be artificially low because of the restart from the 2023 strikes.

 

[Sirwalterraleigh]

I made money today…

…but it’s nothing short of terrible if you’re a fan.

Stick this guy…it’s time

 

[HauntedPirate]

I'm struggling to figure this one out:

"Subscription revenue growth attributable to higher rates due to increases in retail pricing across
our streaming services, and subscriber growth at Disney+ Core and, to a lesser extent, Hulu"

Disney+ Core(2) 111.3 112.6 (1) %

Disney+ Core subscribers fell from Q3 to Q4. Unless they mean annually, which then sounds like an attempt to cover up the quarterly loss.

 

[Sirwalterraleigh]

Good earnings call. D+ profitability is now most assured. Particularly in light of forward guidance for kind of sizeable subscriber growth. That’s the big thing, whether subscribers were going to shrink substantially to offset the price increases.

ARPU will move more significantly next quarter due to the price increases mostly occurring late in this last one.

lol…

You might want to give it a few minutes to actually sink in to your grey matter

 

[MisterPenguin]

All of You, piano version

 

[BrianLo]

Want to know why?

And who’s responsible for chapek?

You’re not getting enough oxygen to you’re brain down there…stand up

Keep spinning!

But I think Peltz is now done for, which I think most sane heads agree is for the best.

 

[MisterPenguin]

All of You, piano version

Know Who Your Are - Te Fiti Zone (instrumental)

 

[Stripes]

Because they’re bribing the shareholders…buybacks

A contributing factor though they also beat estimates and hiked their guidance.

 

[Sirwalterraleigh]

I'm struggling to figure this one out:

"Subscription revenue growth attributable to higher rates due to increases in retail pricing across
our streaming services, and subscriber growth at Disney+ Core and, to a lesser extent, Hulu"

Disney+ Core(2) 111.3 112.6 (1) %

Disney+ Core subscribers fell from Q3 to Q4. Unless they mean annually, which then sounds like an attempt to cover up the quarterly loss.

So you’re saying you might lose subs in streaming?

Hmm…why didn’t anyone else warn me about this!!?

 

[TalkingHead]

The new version of direct-to-dvd?

I can’t even wrap my head around Frankensteining a multi-ep series without winding up with weird splotchy pacing and a sputtering narrative arc.

But this isn’t really about the creative work, is it? It’s about sticking another IP sequel in theaters that may or may not help the IP depending on ticket sales.

 

[HauntedPirate]

Also - Waiting for the apologies from those who claimed, vehemently and in the face of all evidence, that "park attendance was not down".

"At our domestic parks and resorts, lower results in the current quarter compared to the prior-year quarter were due to:

A decrease at Walt Disney World Resort reflecting a modest decrease in revenues and higher costs. These impacts were due to:
▪ Lower volumes due to decreases in attendance and occupied room night"

 

[MisterPenguin]

I'm struggling to figure this one out:

"Subscription revenue growth attributable to higher rates due to increases in retail pricing across
our streaming services, and subscriber growth at Disney+ Core and, to a lesser extent, Hulu"

Disney+ Core(2) 111.3 112.6 (1) %

Disney+ Core subscribers fell from Q3 to Q4. Unless they mean annually, which then sounds like an attempt to cover up the quarterly loss.

Perhaps increased revenue from ad tier?

 

[Sirwalterraleigh]

A contributing factor though they also beat estimates and hiked their guidance.

First day on Wall Street, eh?

What do you think moved the needle…announcing they’re leveraging themselves more by buying themselves to make themselves “worth more”?

…or estimates from the executive toilet?

 

[HauntedPirate]

Perhaps increased revenue from ad tier?

Maybe, but it specifically says "subscriber growth", which the quarterly numbers do not reflect. ARPU was definitely up due to price increases, so why not just say "revenue growth"? Seems odd.

 

[SplashJacket]

Also - Waiting for the apologies from those who claimed, vehemently and in the face of all evidence, that "park attendance was not down".

"At our domestic parks and resorts, lower results in the current quarter compared to the prior-year quarter were due to:

A decrease at Walt Disney World Resort reflecting a modest decrease in revenues and higher costs. These impacts were due to:
▪ Lower volumes due to decreases in attendance and occupied room night"

Idk, I feel like there's very few people championing a middle-ground. Parks were at an unsustainable attendance level. Modest attendance decreases always seemed to be best-case scenarios given the weakening slate of new experiences.

 

[CaptainAmerica]

I'm struggling to figure this one out:

"Subscription revenue growth attributable to higher rates due to increases in retail pricing across
our streaming services, and subscriber growth at Disney+ Core and, to a lesser extent, Hulu"

Disney+ Core(2) 111.3 112.6 (1) %

Disney+ Core subscribers fell from Q3 to Q4. Unless they mean annually, which then sounds like an attempt to cover up the quarterly loss.

Comparison is always versus the same quarter from the prior year, not versus the previous quarter.

 

[HauntedPirate]

Comparison is always versus the same quarter from the prior year, not versus the previous quarter.

Ok, that makes sense, then. Just strange that they would say that but then give quarterly numbers instead of YoY.

 

[Sirwalterraleigh]

Maybe, but it specifically says "subscriber growth", which the quarterly numbers do not reflect. ARPU was definitely up due to price increases, so why not just say "revenue growth"? Seems odd.

Maybe because once you lose subs - like park guests - you’re in trouble so you hide it behind the curtain?

 

[Sirwalterraleigh]

Comparison is always versus the same quarter from the prior year, not versus the previous quarter.

Good point…it’s even worse

 

[MisterPenguin]

Percy Jackson and the Olympians (series theme song)