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Disney’s Q3 FY21 Earnings Results Webcast

Sirwalterraleigh

Premium Member
These earning calls are not directed at or tailored to guests, consumers, customers, or fans. The information contained and verbiage chosen is directed at investors.

Granted. But still more truthful than anything ever shown to a “guest”. The fact most don’t bother to listen and process doesn’t really matter/alter reality.

For all the dissing of ESPN they do ha ve the NHL back. That's pretty big though most Americans will dismiss that. Who wants to watch guys skate in ice.
During the lockout…the ratings went UP for ESPN when they showed World Series of poker every night. Mericans don’t watch hockey and ESPN’s coverage was awful. Don’t think second time around the prom date is gonna look more pretty.

and now…this:

 

el_super

Well-Known Member
The FAANG's (Facebook, Amazon, Apple, Netflix, Google) don't have to crush Disney all they need to do is make Disney's cash cow programming irrelevant. Everything that SportsCenter does can be reduced to an app and largely automated, They only thing they cant do is the talking heads arguing with each other.

You're putting way too much weight into this idea. Yes sports scores and highlights can be automated, and probably to some extent already are. The internet exists and cable channels aren't the sole source for content anymore. That situation though, exists today, right now, and it hasn't had the negative impact on Disney that you seem to think it will.

The value of ESPN (or Hulu or Disney+ even) isn't necessarily in the specific content, but in the distribution. ESPN is successful because it's been long established as a channel for sports content, and that gives them an advantage in negotiating broadcast rights from the major players/franchises. More games = more viewers. More viewers = more games.

Sure the NFL could easily sell the rights to their games over to a tech company for a large boatload of money. Amazon can't automate a football game, so if they want to play they'd have to buy the rights that Disney currently owns. But there is this prevailing wisdom that, going into an unknown streaming model could reduce viewership, and reduce interest in the games/sport, so why take the chance? ESPN is established and still have millions of viewers, so why put your games on AppleTV where fewer people have access to it?

That idea seems to be supported by the fact that Amazon is already trying to gain traction in showing live sporting events, but yet Disney still hasn't fallen.
 

el_super

Well-Known Member
Referring to Guests / consumers as things that need to have their potential yields managed ...and heavily exploited .....

When did they ever say exploited?

That whole yield management thing is just a way of communicating something that I have felt for a long time: I would rather pay MORE for a better experience than accept a discount on a reduced experience. In the pre-pandemic days I started to spend the extra money to go to the Disneyland After Dark events, simply because it was the only way to experience the park with almost no crowds in a way that I was accustom to for the last 40 years. Yeah I was paying more (about $100 for 5-6 hours in the park), but the value was absolutely there for me.

There biggest problem park side right now, is balancing the people who want to pay more for a better experience, and the people who just want access for the lowest price. Their yield management solutions absolutely make sense in that regard: they are going to change pricing and use reservations to force the discounted access groups to the days/seasons where people typically don't show up, while still providing a better experience on the weekends/busy season for a higher price. At least.... I hope that's what they're planning.

Yes this was aimed for the investor group, but no one in that group is so naive to think that Disney doesn't have to work to convince people to spend their money there. It's still the same proposition it always was: is the experience worth the money. Disney and their investors both know that if there is no value in the experience, they will end up losing more. They still have to offer a product people want.
 

skypilot2922

Well-Known Member
You're putting way too much weight into this idea. Yes sports scores and highlights can be automated, and probably to some extent already are. The internet exists and cable channels aren't the sole source for content anymore. That situation though, exists today, right now, and it hasn't had the negative impact on Disney that you seem to think it will.

The value of ESPN (or Hulu or Disney+ even) isn't necessarily in the specific content, but in the distribution. ESPN is successful because it's been long established as a channel for sports content, and that gives them an advantage in negotiating broadcast rights from the major players/franchises. More games = more viewers. More viewers = more games.

Sure the NFL could easily sell the rights to their games over to a tech company for a large boatload of money. Amazon can't automate a football game, so if they want to play they'd have to buy the rights that Disney currently owns. But there is this prevailing wisdom that, going into an unknown streaming model could reduce viewership, and reduce interest in the games/sport, so why take the chance? ESPN is established and still have millions of viewers, so why put your games on AppleTV where fewer people have access to it?

That idea seems to be supported by the fact that Amazon is already trying to gain traction in showing live sporting events, but yet Disney still hasn't fallen.

One reason and one reason only. The FAANG’s have the bucks, Apple could buy every share of Disney stock and still only spend a third of its cash hoard.

The legacy media no longer have that kind of money they did but managed to blow it by becoming PR departments for one or the other of the US’es political parties, It’s the definition of stupid to do stuff that makes half your customers run away.

If Apple or Amazon want the NFL games they will get them by outbidding everyone and the NFL will count the bucks.
 

skypilot2922

Well-Known Member
When did they ever say exploited?

That whole yield management thing is just a way of communicating something that I have felt for a long time: I would rather pay MORE for a better experience than accept a discount on a reduced experience. In the pre-pandemic days I started to spend the extra money to go to the Disneyland After Dark events, simply because it was the only way to experience the park with almost no crowds in a way that I was accustom to for the last 40 years. Yeah I was paying more (about $100 for 5-6 hours in the park), but the value was absolutely there for me.

There biggest problem park side right now, is balancing the people who want to pay more for a better experience, and the people who just want access for the lowest price. Their yield management solutions absolutely make sense in that regard: they are going to change pricing and use reservations to force the discounted access groups to the days/seasons where people typically don't show up, while still providing a better experience on the weekends/busy season for a higher price. At least.... I hope that's what they're planning.

Yes this was aimed for the investor group, but no one in that group is so naive to think that Disney doesn't have to work to convince people to spend their money there. It's still the same proposition it always was: is the experience worth the money. Disney and their investors both know that if there is no value in the experience, they will end up losing more. They still have to offer a product people want.

as long as the institutional investors can sell their Disney stock for more than they paid for it they dont care if Disney ceases to exist tomorrow. Investment by the biggies is almost entirely AI driven, If Goldman-Sachs AI detects a bad trend it will dump its entire position in seconds. There is no emotion or nostalgia there only zeroes and ones in a data center somewhere in the tri state area
 

el_super

Well-Known Member
One reason and one reason only. The FAANG’s have the bucks, Apple could buy every share of Disney stock and still only spend a third of its cash hoard.

So? How does that point to a failure of Disney? At no point in time was Disney the most valuable company in the world. It's never happened. You keep trying to imply that's somehow a sign of failure, but ... it's not.

Is it likely that Apple or Google could buy up Disney? There's certainly some synergies there, but it's doubtful something like that would pass muster from the feds.

If Apple or Amazon want the NFL games they will get them by outbidding everyone and the NFL will count the bucks.

OK so look at this another way: why haven't they yet? If it's so obvious that they could undercut all the Hollywood studios and take all the prize winnings for themselves, why are they struggling so hard to just show some random Thursday night football and the WBA?

Please let us know what they have missed, so that we can set them on the right path.

as long as the institutional investors can sell their Disney stock for more than they paid for it they dont care if Disney ceases to exist tomorrow. Investment by the biggies is almost entirely AI driven, If Goldman-Sachs AI detects a bad trend it will dump its entire position in seconds. There is no emotion or nostalgia there only zeroes and ones in a data center somewhere in the tri state area

This seems to be a real misunderstanding of what computers can do.

You think Goldman Sachs would risk a programming error dumping ALL of their stock in seconds?
 

Lilofan

Well-Known Member
So? How does that point to a failure of Disney? At no point in time was Disney the most valuable company in the world. It's never happened. You keep trying to imply that's somehow a sign of failure, but ... it's not.

Is it likely that Apple or Google could buy up Disney? There's certainly some synergies there, but it's doubtful something like that would pass muster from the feds.



OK so look at this another way: why haven't they yet? If it's so obvious that they could undercut all the Hollywood studios and take all the prize winnings for themselves, why are they struggling so hard to just show some random Thursday night football and the WBA?

Please let us know what they have missed, so that we can set them on the right path.



This seems to be a real misunderstanding of what computers can do.

You think Goldman Sachs would risk a programming error dumping ALL of their stock in seconds?
If Goldman dumps their entire stock of TWDC the Dow Jones would react big time in a negative way. I don't see that happening.
 

skypilot2922

Well-Known Member
So? How does that point to a failure of Disney? At no point in time was Disney the most valuable company in the world. It's never happened. You keep trying to imply that's somehow a sign of failure, but ... it's not.

Is it likely that Apple or Google could buy up Disney? There's certainly some synergies there, but it's doubtful something like that would pass muster from the feds.



OK so look at this another way: why haven't they yet? If it's so obvious that they could undercut all the Hollywood studios and take all the prize winnings for themselves, why are they struggling so hard to just show some random Thursday night football and the WBA?

Please let us know what they have missed, so that we can set them on the right path.



This seems to be a real misunderstanding of what computers can do.

You think Goldman Sachs would risk a programming error dumping ALL of their stock in seconds?
Considering I’ve spent my career in this field building large scale systems for household names. I’m very familiar with what trading systems are capable of.

in the outer boroughs of new york there are hundreds of datacenters dedicated entirely to HFT because these locations have a few hundred microseconds less latency to the Wall St systems than do the retail trading outfits in CT and NJ.

I think you far underestimate what modern trading systems are capable of.

If a stock is selling for 1.00 and someone puts in a large buy order for 1.05 the HFT systems will buy at 1.00 and sell at 1.05 the transaction will be done before the retail investing houses are even aware of the Buy order. Yeah its only a few pennies but the volume is massive.

I’d suggest the book ‘Flash Boys’ it’s an approachable book on High Frequency Trading Dont read it before bedtime because you will not be able to sleep.
 

skypilot2922

Well-Known Member
If Goldman dumps their entire stock of TWDC the Dow Jones would react big time in a negative way. I don't see that happening.

as long as they profited from the deal GS would not give a tinkers damn about what people thought.

Remember this is the same outfit that sold tranches of mortgage debt and at the same time sold CDI’s on the probability that the debt THEY were selling would go bad.

not that any of the other investment banks are any different in their strategies
 

Lilofan

Well-Known Member
as long as they profited from the deal GS would not give a tinkers damn about what people thought.

Remember this is the same outfit that sold tranches of mortgage debt and at the same time sold CDI’s on the probability that the debt THEY were selling would go bad.

not that any of the other investment banks are any different in their strategies
Yes , that Goldman Sachs fraud drama in around 2010 was bottom of the barrel to mislead and defraud customers.
 

Walt d

Well-Known Member
"The Walt Disney Company will discuss fiscal third quarter 2021 financial results via a live audio webcast beginning at 4:30 p.m. ET / 1:30 p.m. PT on Thursday, August 12, 2021."

I
 

Figments Friend

Well-Known Member
Disney 2021.jpg
 

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