Disney’s Q2 (Jan/Feb/Mar) FY 2020 Earnings Results Webcast on Tuesday, May 5, 4:30ET

[Disney Analyst]

In Shanghai: Masks for guests and cast members. Face characters will not wear masks but will be distanced from guests.

 

[robhedin]

Masks for guests and CMs. Face characters will not wear masks but will be distanced from people.

At Shanghai.

 

[Bill in Atlanta]

Masks for guests

Mandatory? I missed that.

 

[Disney Analyst]

Mandatory? I missed that.

Mandatory for Shanghai.

 

[MisterPenguin]

Q: Doug, CreditSuisse: Hulu going international?
Q: Films: when can production restart?
Q: And I’m still pushing Wall Street’s crazy push to make a new VOD window since Iger kept telling us that’s not changing for years!!
Q: Shanghai: masks for guests?


A: Chapek: Nothing moving on Hulu at the moment. #ThanksCovid
A: Chapek: Film production when we can. #ThanksCovid
A: Chapek: New VOD windows will only happen because: #ThanksCovid. After that, same model as always [please stop asking about this]
A: Chapek:Shanghai has masks for guests and employees.

 

[Creathir]

Assuming those referenced imagineers are still there... since they laid some of them off...

 

[Doberge]

Chapek sounds more confident answering questions than he did reading his prepared statement.

 

[Darkprime]

Re Mulan's release date.

 

[Darkprime]

20th Century was overall profitable (big difference from last year)

Any more info on this?

 

[MisterPenguin]

Q: Jessica: Any longer term changes in business due to CV?
Q: What percent were cruises for profits?


A: Chapek: We’ll look at things. Maybe…. less expenditures for a while.
A: Chapek: Cruises will be last to come back online. But guest interest is still high.
A: Christine: [Hhahahahha] We don’t reveal those figures, but cruises are a small percentage overall. But, it has a very high enthusiasm rating.

 

[brianstl]

I think they are really overestimating what the pent up demand will be outside the first week or so. I think filling the parks even at reduced capacity will be a major issue for months. They have to be aware they will have issues there.

 

[Disney Analyst]

Ooh good question re: the parks. Can't wait for an answer...

 

[MisterPenguin]

Q: Michael: How do you staff parks to bring it back? What level of offerings will there be.
Q: How does furloughing affect bringing staff back.


A: Chapek: We’re aiming at least 50% of offerings at start.
A: Labor will slide with attendance. Got to make sure it’s profitable.
A: Christine: We’ll still paying insurance for furloughed. We’re managing it.

 

[WEDway Inc & Company LLC]

Dated tickets?

 

[Slpy3270]

What's interesting about this earnings conference is that Disney hasn't pulled its guidance for this year.

 

[donsullivan]

Dated tickets?

Dated tickets + advance reservations for pass holders = capacity management for park entry

 

[MisterPenguin]

Q: Stephen: Wells Fargo… Parks… if you limit attendance how do you decide who gets in.
Q: Hulu: minutiae


A: Chapek: dated tickets (doing that in Shanghai) or something similar
A: Christine: minutiae

 

[hopemax]

The Cruise answer was telling to me. They are getting high marks from guests over the other cruise lines in regards to the perception of prioritizing traveler safety. I don’t think they want to risk damaging their reputation by being too early in the reopening debate. This whole call seems like, “We have money, we trust our brand in the long term, so we can afford to play this a little safe. Competitors, you go first and we’ll watch.”

 

[Disney Analyst]

Shanghai will be limited to 24,000 guests a day (30% of the normal 80k) as mandated by government, Disney will go less then that to start, they want to play it safe and get used to new procedures, then will ramp up.

 

[Doberge]

Shanghai opening *under* government mandated 30%. Usual capacity is 80k.