Disney’s Q2 FY23 Earnings Results Webcast

[Sirwalterraleigh]

$150 million in severance so far, $180 million to go.

Layoffs are half over.

Phase 1…

That’s the tip of the stock market can’t hold out indefinitely

 

[CaptainAmerica]

Phase 1…

That’s the tip of the stock market can’t hold out indefinitely

I think that was Phases 1 and 2 (of 3).

 

[networkpro]

So the Avatar profit covered most of the craptacular remaining slate of "movies"

 

[CaptainAmerica]

I don't know what the market is reacting to but they don't like something that Christine just said.

 

[CaptainAmerica]

So the Avatar profit covered most of the craptacular remaining slate of "movies"

Submarine man goes brrrrrr

 

[Disney Analyst]

I don't know what the market is reacting to but they don't like something that Christine just said.

Meh - I am over the market, it makes no sense to me, ever.

 

[wdwmagic]

Domestic year-over-year increases in attendance and per capita spending were 7% and 2% respectively

 

[MisterPenguin]

Poor TWDC, it's net income for this quarter was only $1.271B.

 

[DCBaker]

Christine - fiscal 2023 capital expenditures will total approximately $5.6 billion

 

[BrianLo]

Softness with D+ subscribers are continuing through next quarter (but will rebound Q4) and they expect their losses to worsen by 100mil next quarter due to content 'spend'. The market did NOT like that.

 

[networkpro]

DPEP vs DMED as the main profit growth. I guess getting burnt at the box office has them pulling back those burnt fingers.

 

[WaltsTreasureChest]

Softness with D+ subscribers are continuing through next quarter (but will rebound Q4) and they expect their losses to worsen by 100mil next quarter due to content 'spend'. The market did NOT like that.

Damn

 

[Sirwalterraleigh]

I think that was Phases 1 and 2 (of 3).

If they don’t get a stock bump…and they won’t…it will continue

 

[CaptainAmerica]

Bob wants to jack the price of the ad-free tier, not necessarily to milk those people, but to force people back down to the ad-supported tier and milk the advertisers.

 

[CaptainAmerica]

If they don’t get a stock bump…and they won’t…it will continue

Somebody has to keep the lights on.

 

[MisterPenguin]

Q: Ben of Morgan Stanley -- What did you learn about the price increase of D+ reaction.
Also, what's up with your reorganization... how's it going?

A: Bob -- pleasantly surprised that loss from the increase was minimal. Which means we could increase price. And increasing it more, will differentiate premium and ad-supported, because it's financially OK for people to use ad-supported (which can lead to more income).

WRT reorganization: on the way to $5.5B reduction in expense in content spending (mostly coming in 2024 due to contracts).

Christine -- we're on target with head count, reducing redundancies, use of technology, more efficient. Will be fully realized in 2024.

 

[Tha Realest]

DPEP vs DMED as the main profit growth. I guess getting burnt at the box office has them pulling back those burnt fingers.

Well sure, those films lost a lot of money for the company at the box office, but then a lot of people watched them on Disney+ (which also loses a lot of money). So for some on here it’s spun as a win-win.

 

[networkpro]

"Promise in technology" My company thanks you for all of the IT folks we have hired from Disney.

 

[MisterPenguin]

Also: Backing down out of low income places (India)

 

[TheMaxRebo]

Softness with D+ subscribers are continuing through next quarter (but will rebound Q4) and they expect their losses to worsen by 100mil next quarter due to content 'spend'. The market did NOT like that.

no, no it did not