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Disney’s Q3 FY24 Earnings Results Webcast
- Thread starter DCBaker
- Start date
GhostHost1000
Premium Member
Did he mention the return on the new Tiana ride or no
lentesta
Premium Member
The 3% increase in Domestic DPEP is $171MM.
I would bet a churro that year-over-year Genie+/ILL sales increases is the single largest component of that $171MM.
The question that didn't get asked is whether that's sustainable.
doctornick
Well-Known Member
Of course it's sustainable! Parks are good, pricing is fine, cruise line is bonkers, park demand will recover soon.
Last edited:
FerretAfros
Well-Known Member
Ask anybody who was in Southern California in 1984, and they’ll have stories of how everybody was prepared for the worst traffic they’d ever seen during the LA Olympics, but it ended up being far lighter than average because locals stayed home, Olympic folks stuck to the Olympic sites, and non-Olympic tourists stayed away. A similar phenomenon occurred with 2011’s heavily-publicized “carmageddon” weekend closure of part of the 405 freeway; everybody heeded the warnings and stayed home, and traffic flowed better than normal. Summer 1985 was especially empty at Disneyland (despite the Anaheim Convention Center across the street being a host venue), since few of the Olympic visitors were willing to spend a full day at a relatively expensive theme park, when there were plenty of cheaper, shorter-duration sights to see during their random bits of free time.
Of course, left unsaid in Bob’s response about Paris in 2024 is that the exact same thing will most likely happen again in Anaheim in 2028. But then again, Bob has always been a particularly shortsighted leader, so this shouldn’t surprise anybody.
doctornick
Well-Known Member
Can someone who understands better explain to me how streaming is doing? On one hand this looks like a profit for the quarter:
But elsewhere this looks like a loss for Direct to Consumer:
Obviously there are some different things being included but can someone explain the difference?
But elsewhere this looks like a loss for Direct to Consumer:
Obviously there are some different things being included but can someone explain the difference?
And, as mentioned in one of the answers above, judging DTC based on "subs" can be misleading because:
1. Sub fees can be wildly different depending on territory. E.g, the sub fee in India is less than a dollar. So, sub numbers that change dramatically because of what's happening in India hardly affects the bottom line.
2. How do you count the subs of bundles? If I have the Hulu/D+ bundle, which service counts me as a sub? And this will get trickier with Joint Ventures with non-Disney companies.
3. How do you count ad tiers? An ad tier sub is worth less than a premium tier as far as fees go, tho, the income of advertising could make the ad tier sub *more* profitable. Also, if Disney+ adds FASTs, how do you count that as a 'sub.'
Wall Street stopped counting subs years ago. It's all about "how much profit all together." People who still obsess over sub numbers clearly don't understand the product or the market.
Disstevefan1
Well-Known Member
Single and multi LL are here to stay and it’s almost pure profit, and with the low number of attractions LL is a MUST purchase, so I assume is sustainable.
Those slides about P&E are hilarious. "Compared with 12 years ago, look at what we've done!" "The parks are a growth engine, and here are the two things we have coming in the next 12 months, and one is a DVC resort..."
Nothing in the parks is a "MUST purchase". Especially if attendance continues to be "soft". Don't confuse marketing and Bob-speak around LL with anything based in reality.
Last thing Disney officially said about Cotino, AFIK, was late 2024. So, this is the first time, AFIK, that they're saying 2025.
lentesta
Premium Member
View attachment 807147
I'm headed out to Palm Springs for Thanksgiving and plan on taking a tour. For research purporses.
I'm headed out to Palm Springs for Thanksgiving and plan on taking a tour. For research purporses.
Some more details on the dispute between Disney and Comcast over the Hulu valuation:
According to the Disney filing, if NBCU’s appraisal were “deemed to be valid” and a third appraiser’s equity fair-value determination “were consistent with the NBCU’s appraiser’s valuation,” Disney would be required to pay NBCU an additional amount of approximately $5 billion as its share of the difference between the equity fair value and the guaranteed floor value. That suggests that Comcast’s third-party appraisal valued Hulu in the neighborhood of $40.8 billion.
If the third appraiser’s equity fair value determination for Hulu were between the valuations of Disney’s and NBCU’s appraisers, the incremental amount Disney would have to pay would be “between zero and approximately $5 billion.”
The outcome of the Hulu deal arbitration “is uncertain and we cannot reasonably estimate the impact of the arbitration on the appraisal process, and thus any impact on the determination of Hulu’s equity fair value and any additional amount we may be required to pay to acquire NBCU’s interest in Hulu,” Disney noted in the filing.
The two sides have been far apart on the question of Hulu’s market value for months. Comcast CEO Brian Roberts touted Hulu as “a scarce, kingmaker asset” last September, and suggested the “synergies” Hulu would afford a full owner would be worth $30 billion, even before accounting for the value of Hulu itself.
Under the previously set terms of the transaction, the Disney is set to share with NBCU 50% of Disney’s estimated U.S. tax savings resulting from the amortization of the purchase of NBCU’s interest in Hulu, with payments expected to be made primarily over a 15-year period.
Full article at the link below:
variety.com
According to the Disney filing, if NBCU’s appraisal were “deemed to be valid” and a third appraiser’s equity fair-value determination “were consistent with the NBCU’s appraiser’s valuation,” Disney would be required to pay NBCU an additional amount of approximately $5 billion as its share of the difference between the equity fair value and the guaranteed floor value. That suggests that Comcast’s third-party appraisal valued Hulu in the neighborhood of $40.8 billion.
If the third appraiser’s equity fair value determination for Hulu were between the valuations of Disney’s and NBCU’s appraisers, the incremental amount Disney would have to pay would be “between zero and approximately $5 billion.”
The outcome of the Hulu deal arbitration “is uncertain and we cannot reasonably estimate the impact of the arbitration on the appraisal process, and thus any impact on the determination of Hulu’s equity fair value and any additional amount we may be required to pay to acquire NBCU’s interest in Hulu,” Disney noted in the filing.
The two sides have been far apart on the question of Hulu’s market value for months. Comcast CEO Brian Roberts touted Hulu as “a scarce, kingmaker asset” last September, and suggested the “synergies” Hulu would afford a full owner would be worth $30 billion, even before accounting for the value of Hulu itself.
Under the previously set terms of the transaction, the Disney is set to share with NBCU 50% of Disney’s estimated U.S. tax savings resulting from the amortization of the purchase of NBCU’s interest in Hulu, with payments expected to be made primarily over a 15-year period.
Full article at the link below:
Disney Says It Might Have to Pay Comcast up to $5 Billion More to Buy Out Hulu
Disney disclosed that it might have to pay up to $5 billion more to complete the buyout of NBCUniversal's 33% stake in Hulu.
variety.com
JIMMYEDDIE
Active Member
Disstevefan1
Well-Known Member
Well, yes, LL is only needed if you want to get on a top tier attraction.
I guess if all you want to do is get on two of the unpopular attractions and walk around and buy food and merch, you don't need LL.
AmishGuy91
Well-Known Member
The first includes sports (ESPN+) which makes it net profitable.
The second excludes sports, which shows a deficit without sports.
doctornick
Well-Known Member
We went late June and didn't get G+ (or ILL) and felt we did fine getting done everything we wanted to. 6 days in the parks. With attendance being light, I don't think the line skip stuff is "needed" if you are familiar with the parks.