Disney’s Q3 FY23 Earnings Results Webcast

[Sirwalterraleigh]

I have the same through verizon but I get it for free. I know that through Verizon I can keep it as long as I have my cell plan.

Yeah…they’re gonna start charging you for it. There’s no agreement that has “legacy pricing” for perpetuity

 

[Sirwalterraleigh]

So far a lack of Parks questions. I think investors are pretty happy with how the parks are being run right now.

You mean the domestic losses when consumer spending was still off the charts?

Remind me not to let you do my taxes or wax my back

No, but the people that just spent billions of dollars there last quarter have.

I spent a little there…but I didn’t have many people to talk to because it was a ghost town on a holiday weekend

 

[CastAStone]

10-Q is out early this quarter. Kevin apparently is more timely than CMC.

THE key chart for DPEP:

 

[CastAStone]

10-Q is out early this quarter. Kevin apparently is more timely than CMC.

THE key chart for DPEP:
View attachment 736570

And my trusty chart:

Domestic hotel occupancy

Domestic Hotel Occupancy	2019	2020	2021	2022	2023
Q2 (Jan-Mar)		77%	35%	84%	89%
Q3 (Apr-Jun)		0%	50%	90%	84%
Q4 (Jul-Sep)		~5%	~55%	~82%
Q1 (Oct-Dec)	92%	28%	73%	88%

Put simply, hotel occupancy this quarter underperformed.

 

[mikejs78]

Which is exactly why people hated cable

Well two things will cause massive sub loss:

1. Higher prices
2. Ad tiers


…bet me now. And add some zeros on it

10 million subscribers lost this year? With adds so that’s a bit more “churn” than you think (if you don’t think)

Probably north of 10%?

I know…those are the “bad subscribers”

Your making a bad argument here. They raised prices in the US, and since they raised prices, U.S. subscribers increased.

The subscriber loss happened in areas where they didn't raise prices.

You have a lot of valid points. This isn't one of them.

 

[Sirwalterraleigh]

10-Q is out early this quarter. Kevin apparently is more timely than CMC.

THE key chart for DPEP:
View attachment 736570

And my trusty chart:

Domestic hotel occupancy

Domestic Hotel Occupancy	2019	2020	2021	2022	2023
Q2 (Jan-Mar)		77%	35%	84%	89%
Q3 (Apr-Jun)		0%	50%	90%	84%
Q4 (Jul-Sep)		~5%	~55%	~82%
Q1 (Oct-Dec)	92%	28%	73%	88%

Put simply, hotel occupancy this quarter underperformed.

Well that’s why they have been spotted putting Buildings in wdw on low occ

So the next quarter…which will be much worse…won’t show a 60 or a 70 percent number. And hover around 85-90

See how easy it is to rig the numbers legally, kids?

 

[SpaceMountain77]

Whenever investors or media outlets speculate on the acquisition of TWDC, in its entirety, by Apple, I immediately think of DVC. I am sure that entering the timeshare industry and managing properties is a high portfolio item for the Apple strategic plan.

 

[Sirwalterraleigh]

Your making a bad argument here. They raised prices in the US, and since they raised prices, U.S. subscribers increased.

The subscriber loss happened in areas where they didn't raise prices.

You have a lot of valid points. This isn't one of them.

I’ll look at the breakout…

But…there is still no indication that this thing is ever gonna turn the corner

A lot of US subscribers are on grandfathered deals too.

Expect a 5,000,000 loss every quarter if you want to be realistic


And I’ll stand Pat with casual viewers not paying $25…$30 for a steam with slashed new content and ad tiers

I’ll bet you on that one until they kill me and take this hill

 

[CastAStone]

Well that’s why they have been spotted putting Buildings in wdw on low occ

So the next quarter…which will be much worse…won’t show a 60 or a 70 percent number. And hover around 85-90

See how easy it is to rig the numbers legally, kids?

Nah, they won’t cook the books, somebody would ask where all the money is, but look for that per guest spending number to drop considerably

 

[CastAStone]

Well that’s why they have been spotted putting Buildings in wdw on low occ

So the next quarter…which will be much worse…won’t show a 60 or a 70 percent number. And hover around 85-90

See how easy it is to rig the numbers legally, kids?

The footnote clearly explains, by the way, that it is a subset of all built, on site rooms, whether or not they’re available to be used. so closing a section of a resort doesn’t remove it from the occupancy number.

 

[Splash4eva]

Nah, they won’t cook the books, somebody would ask where all the money is, but look for that per guest spending number to drop considerably

Why would per guest spending drop considerably. Prices are not going lower and i do know they have offered some discounts to get people there but per guest i dont see moving much. Overall revenue for sure with less guests

 

[Sirwalterraleigh]

The footnote clearly explains, by the way, that it is a subset of all built, on site rooms, whether or not they’re available to be used. so closing a section of a resort doesn’t remove it from the occupancy number.

That would be contrary to all their reporting in the past…just staying

Low occ/rehab rooms are not included in occupancy stats. They are literally holes in the space time continuum.

But that’s a good Catch. I’ll watch that closely from now on.

 

[Sirwalterraleigh]

Nah, they won’t cook the books, somebody would ask where all the money is, but look for that per guest spending number to drop considerably

Internally they always would cook those books

But in a rare win for transparency…it seems they won’t cross the line on doing it for filings

So this was - April - June and down 7% domestically?

Which is probably all wdw…maybe even more if Disneyland was up?

Look for 15% in the next call..

If not…raise and eyebrow. Those rooms - I’m assured - are NOT selling

 

[TrainsOfDisney]

The people I've seen comment on the price increase aren't switching to ad-supported; they're completely cancelling D+.

That will be my decision as well. Last year I went back and forth on renewing from the original D23 3-year deal. I decided to keep it for another year but I’m not sure if I will continue or not.

I will either keep the premium or drop it. I don’t want ads.

 

[TheMaxRebo]

I

10-Q is out early this quarter. Kevin apparently is more timely than CMC.

THE key chart for DPEP:
View attachment 736570

Interesting that for domestic rooms the occupancy rate went down by 6% but the available room nights only increased by 1% - does that mean less rooms available so from rooms taken out of circulation (either due to refurbs/replacement/ or shuttering?

 

[dreday3]

We actually watch Hulu a lot and we also enjoy Disney Plus so the $19.99 no ads bundle sounds good for us.

 

[Vegas Disney Fan]

That will be my decision as well. Last year I went back and forth on renewing from the original D23 3-year deal. I decided to keep it for another year but I’m not sure if I will continue or not.

I will either keep the premium or drop it. I don’t want ads.

I’m so disappointed by todays announcement, I currently have the $14 D+ (no ads), Hulu (w/ ads), ESPN+ bundle… I don’t watch a ton of Hulu so the ads don’t bother me too much but I don’t want them on D+… the closest option is now $25.

I knew it would go up but I was expecting a couple dollars, not $11. I‘m glad I have a few more months on my current contract to decide, I’m honestly 50/50 whether to renew or just drop the whole thing.

I’m having déjà-vu from cable back in the day, you originally paid for it to not have ads, then they added a few ads “to keep the price low”, now you pay a couple hundred dollars a month and half the time is ads.

 

[CastAStone]

Internally they always would cook those books

But in a rare win for transparency…it seems they won’t cross the line on doing it for filings

So this was - April - June and down 7% domestically?

Which is probably all wdw…maybe even more if Disneyland was up?

Look for 15% in the next call..

If not…raise and eyebrow. Those rooms - I’m assured - are NOT selling

Remember too that year ago, all star sports was still mostly closed as they renovated it.

They’ve counted occupancy in this manner for at least as long as I’ve been charting which goes to fall 2019.

 

[Sirwalterraleigh]

Remember too that year ago, all star sports was still mostly closed as they renovated it.

They’ve counted occupancy in this manner for at least as long as I’ve been charting which goes to fall 2019.
View attachment 736577

Realize I’m not that young…I’m talking 20-25 years ago

Every dinosaur eventually falls to dust

 

[Sirwalterraleigh]

I’m so disappointed by todays announcement, I currently have the $14 D+ (no ads), Hulu (w/ ads), ESPN+ bundle… I don’t watch a ton of Hulu so the ads don’t bother me too much but I don’t want them on D+… the closest option is now $25.

I knew it would go up but I was expecting a couple dollars, not $11. I‘m glad I have a few more months on my current contract to decide, I’m honestly 50/50 whether to renew or just drop the whole thing.

I’m having déjà-vu from cable back in the day, you originally paid for it to not have ads, then they added a few ads “to keep the price low”, now you pay a couple hundred dollars a month and half the time is ads.

It’s just the beginning

They’ve given ZERO indication that this steaming thing is really working from a profitability standpoint.

Really none. They say “we’ll make money in 2024”

Not because the numbers work…because Bob thinks there’s no price that’s too much.