TalkingHead
Well-Known Member
I’ve read productions that were currently being filmed are already shutting down.
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News The Walt Disney Company Board of Directors Extends Robert A. Iger’s Contract as CEO Through 2026
- Thread starter DCBaker
- Start date
brb1006
Well-Known Member
The strike begins midnight
networkpro
Well-Known Member
- In the Parks
- Yes
The total income (outside of advertising revenue) per subscriber is roughly 11 billion a year (ESPN+ 54 million per month or 1.8 billion per year ESPN 760 million per month or 9.1 billion per year). In the same rough terms, the NBA and NFL contractual obligation is roughly 6 billion a year.
el_super
Well-Known Member
So it's still profitable?
I don't see sports viewing going away anytime soon, so fundamentally they are strong there no?
I think there are issues with streaming viewers expecting to pay less and the leagues expecting more and more that need to be reconciled, but those are minor issues relatively.
hopemax
Well-Known Member
Well, what is the stock price telling us?
The underlying issue is the same one as is playing out elsewhere. It's the age old fight of who should profit more from production: Labor or Capital. It's there with the writer's strike, and now the actor's strike. It's there in college sports with NIL and the transfer portal. It's there is wage inflation in many industries. We aren't in a typical business environment, not even the same zip code. The pandemic and accompanying supply disruptions, combined with the Boomers aging out, and a new technological landscape, has everyone in a tailspin. There is both tremendous opportunity and tremendous trepidation. Bob may complain about the Labor being "not realistic," but neither is Capital. The old ways, and old profit streams are done for them as well. Right now, there is a paralysis because no one knows how to pivot successfully, and the penalties for making the wrong moves will be high. At some point investors will get desperate, and demand changes for change sake. Bob won't be safe when that happens.
There are other contracts out there ( MLB NHL etc. ) making things a little tighter.
Ayla
Well-Known Member
Yes. They already are because of the writers strike. Don't expect anything to go into production into 2024.
CaptainAmerica
Premium Member
Disney doesn't want profitability that's shrinking, they want growth.
el_super
Well-Known Member
Not much. It has been hovering around the same price for awhile now. And aside from Peltz (or maybe even including him) no real serious action has been taken against Disney's board from the shareholders. I do think it's safe to say that everyone is in a wait and see mode at the moment.
The problems facing Disney are numerous, but not necessarily unique. There's not going to be any desire to swap out Bob unless there is some clear indications he's leading the company down the wrong path. If for instance there was a strong bounceback in box office revenue, and Iger insisted on pushing streaming, that might be a cause for concern. If Disney+ keeps hemorrhaging money, and he doesn't cut bait, then yes, there might be a need to oust him.
But there are no clear indications one way or another who is going to win out. It is a period of major transition in the industry right now, and no one, Wall Street or Disney's C-Suite alike, are in a good position to say what the right answer is.
Which by extension means... there's no way to say Iger is wrong either.
The NBA deal is $1.4 billion per year. The NHL is $400 million per year. MLB clocks in around $560 million per year.
If Disney agrees to another broadcast deal with the NBA, they should be locked in a rubber room while wearing straitjackets.
ABQ
Well-Known Member
I'd say exactly the opposite, I would guess Disney would love to sell ESPN direct to consumers but are stuck in contracts with the cable providers that extend X number of years into the future.
Who knows, once Disney sells 50% of ESPN to DraftKings, maybe we can bet on what ESPN does once it can get out of these cable deals.?
So says Bob when he and other millionaires and billionaires fly to Idaho for their business conference on their private jets.
Disney CEO Earning About $27 Million A Year Calls Strike By Writers And Actors ‘Disturbing’
Speaking at a gathering of millionaires and billionaires, Bob Iger complained that the strikes were “disruptive,” calling writers’ and actors’ demands “not realistic.”www.huffpost.com
Be careful Bob they will turn on you in a second.
Smugpugmug
Well-Known Member
This is one of the most out of touch statements Iger has ever said and that is really, really saying something. He is currently getting blasted on social media for this and tbh deserved.Disney CEO Earning About $27 Million A Year Calls Strike By Writers And Actors ‘Disturbing’
Speaking at a gathering of millionaires and billionaires, Bob Iger complained that the strikes were “disruptive,” calling writers’ and actors’ demands “not realistic.”
Be careful Bob they will turn on you in a second.
Eric Graham
Well-Known Member
I'm actually very happy about Disney's performance lately. More bad decisions=Less People in the Parks. When we went in May, we took Lyft and the driver took us by parking lots that were very empty. The parks are more enjoyable for us when there are less people in the parks. I don't have an interest in Disney stock. Anyways, Microsoft, American Express and Visa are doing so much better. The S&P 500 historically outperforms the market also. Here is a recent article from CNN describing the summer attendance at Disney: https://www.cnn.com/2023/07/13/business/disney-world-universal-orlando-attendance-down/index.html And another article shows a different view about the summer from Delta: https://www.usnews.com/news/busines...s-despite-expectations-of-a-spending-pullback
Rumor is Bob received an envelope by courier around lunchtime today. Inside was a picture and a note: "Miss me yet?" The picture?
el_super
Well-Known Member
Rising costs for writers and actors are going to be a tough sell when he has to justify spending $300M on a picture that won't make that amount back at the box office. He's going to have to pass that cost onto the consumers, and they don't have a green light to do that.
Smugpugmug
Well-Known Member
We'll see how this all plays out. For now though, this statement just proves how out of touch Iger is in general (not that it was a secret before).
Eric Graham
Well-Known Member
I would really prefer to see movies without 3 hour run times with previews included. Indiana Jones was over 2 and a half hours. Too much sitting!