wabbott
DIS Veteran
- Joined
- Aug 4, 2021
- Messages
- 6,373
They own the 900 acre Golden Oak Ranch up in Santa Clarita, and whatever property ABC/ESPN has in SoCal.
https://goldenoakranch.com/
DIS Shareholders and Stock Info ONLY
- Thread starter hhisc16
- Start date
https://goldenoakranch.com/
wabbott
DIS Veteran
- Joined
- Aug 4, 2021
- Messages
- 6,373
https://deadline.com/2023/04/disney...r-wars-disney-pixar-third-parties-1235316609/
Disney Streaming Strategy: CEO Bob Iger Tells Shareholders Marvel, Star Wars, Disney And Pixar Titles Will Stay Exclusive, But Others Could “On Occasion” Be Licensed To Third Parties
By Dade Hayes
Business Editor
April 3, 2023 11:25am PDT
Disney CEO Bob Iger said the company has reached a new stage of its evolution in streaming and will consider “on occasion” licensing some titles to third parties.
Responding to a question from a shareholder during the company’s annual meeting, conducted virtually this year, Iger acknowledged there had been a period in the late-2010s when the company clawed back streaming rights.
“In order to achieve the goal of getting into the streaming business very successfully, we felt we had to take control back of the content that we had licensed to third parties,” he said. “At that point, most of it was going to Netflix and we actually enjoyed a good relationship with them over the time when we licensed content to them. But we licensed very valuable content, content that we felt we absolutely needed.”
Iger has made similar comments since rejoining the company, including last month at a conference hosted by Wall Street firm Morgan Stanley. In offering context for the streaming race, Iger noted that having exclusivity to many tentpoles drove early demand for Disney+, which reached 100 million subscribers just 16 months after its November 2019 launch. “We’re proud of our track record, though we recognize we have challenges ahead of us, namely to get to profitability,” Iger said. “We’re not looking to license our core Marvel, Disney, Pixar or Star Wars product to third parties. We will consider on occasion licensing other product to third parties.”
The shareholder meeting was Iger’s first since he rejoined the executive suite as CEO last November. He kicked it off with a tour through the company’s theme park plans and also introduced a clip from Dwayne Johnson, who announced a live-action version of Moana. Iger also hit back at Florida Gov. Ron DeSantis, who has been clashing with the company over control of the land around Disney World in the Orlando area.
Disney Streaming Strategy: CEO Bob Iger Tells Shareholders Marvel, Star Wars, Disney And Pixar Titles Will Stay Exclusive, But Others Could “On Occasion” Be Licensed To Third Parties
By Dade Hayes
Business Editor
April 3, 2023 11:25am PDT
Disney CEO Bob Iger said the company has reached a new stage of its evolution in streaming and will consider “on occasion” licensing some titles to third parties.
Responding to a question from a shareholder during the company’s annual meeting, conducted virtually this year, Iger acknowledged there had been a period in the late-2010s when the company clawed back streaming rights.
“In order to achieve the goal of getting into the streaming business very successfully, we felt we had to take control back of the content that we had licensed to third parties,” he said. “At that point, most of it was going to Netflix and we actually enjoyed a good relationship with them over the time when we licensed content to them. But we licensed very valuable content, content that we felt we absolutely needed.”
Iger has made similar comments since rejoining the company, including last month at a conference hosted by Wall Street firm Morgan Stanley. In offering context for the streaming race, Iger noted that having exclusivity to many tentpoles drove early demand for Disney+, which reached 100 million subscribers just 16 months after its November 2019 launch. “We’re proud of our track record, though we recognize we have challenges ahead of us, namely to get to profitability,” Iger said. “We’re not looking to license our core Marvel, Disney, Pixar or Star Wars product to third parties. We will consider on occasion licensing other product to third parties.”
The shareholder meeting was Iger’s first since he rejoined the executive suite as CEO last November. He kicked it off with a tour through the company’s theme park plans and also introduced a clip from Dwayne Johnson, who announced a live-action version of Moana. Iger also hit back at Florida Gov. Ron DeSantis, who has been clashing with the company over control of the land around Disney World in the Orlando area.
wabbott
DIS Veteran
- Joined
- Aug 4, 2021
- Messages
- 6,373
https://finance.yahoo.com/news/walt-disney-dis-stock-sinks-214509145.html
Walt Disney (DIS) Stock Sinks As Market Gains: What You Should Know
Zacks Equity Research
Mon, April 3, 2023 at 4:45 PM CDT
Walt Disney (DIS) closed the most recent trading day at $99.76, moving -0.37% from the previous trading session. This move lagged the S&P 500's daily gain of 0.37%. At the same time, the Dow added 0.98%, and the tech-heavy Nasdaq gained 0.62%.
Heading into today, shares of the entertainment company had lost 1% over the past month, lagging the Consumer Discretionary sector's gain of 2.07% and the S&P 500's gain of 3.71% in that time.
Wall Street will be looking for positivity from Walt Disney as it approaches its next earnings report date. On that day, Walt Disney is projected to report earnings of $0.69 per share, which would represent a year-over-year decline of 36.11%. Our most recent consensus estimate is calling for quarterly revenue of $22.1 billion, up 14.82% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.98 per share and revenue of $90.27 billion. These totals would mark changes of +12.75% and +9.13%, respectively, from last year.
Any recent changes to analyst estimates for Walt Disney should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Walt Disney is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Walt Disney currently has a Forward P/E ratio of 25.17. This represents a discount compared to its industry's average Forward P/E of 29.64.
It is also worth noting that DIS currently has a PEG ratio of 2.46. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Media Conglomerates stocks are, on average, holding a PEG ratio of 2.46 based on yesterday's closing prices.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 198, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Walt Disney (DIS) Stock Sinks As Market Gains: What You Should Know
Zacks Equity Research
Mon, April 3, 2023 at 4:45 PM CDT
Walt Disney (DIS) closed the most recent trading day at $99.76, moving -0.37% from the previous trading session. This move lagged the S&P 500's daily gain of 0.37%. At the same time, the Dow added 0.98%, and the tech-heavy Nasdaq gained 0.62%.
Heading into today, shares of the entertainment company had lost 1% over the past month, lagging the Consumer Discretionary sector's gain of 2.07% and the S&P 500's gain of 3.71% in that time.
Wall Street will be looking for positivity from Walt Disney as it approaches its next earnings report date. On that day, Walt Disney is projected to report earnings of $0.69 per share, which would represent a year-over-year decline of 36.11%. Our most recent consensus estimate is calling for quarterly revenue of $22.1 billion, up 14.82% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.98 per share and revenue of $90.27 billion. These totals would mark changes of +12.75% and +9.13%, respectively, from last year.
Any recent changes to analyst estimates for Walt Disney should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Walt Disney is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Walt Disney currently has a Forward P/E ratio of 25.17. This represents a discount compared to its industry's average Forward P/E of 29.64.
It is also worth noting that DIS currently has a PEG ratio of 2.46. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Media Conglomerates stocks are, on average, holding a PEG ratio of 2.46 based on yesterday's closing prices.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 198, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Has Zacks been smoking something or have I? I see the Nasdaq down 0.27% today.
wabbott
DIS Veteran
- Joined
- Aug 4, 2021
- Messages
- 6,373
https://deadline.com/2023/04/disney...-and-content-cuts-bob-iger-london-1235316166/
Disney EMEA Staff Bracing For Layoffs & Content Cuts
By Max Goldbart, Jesse Whittock
April 4, 2023 3:42am PDT
EXCLUSIVE: Disney’s international teams are braced for layoffs and content cuts.
Multiple sources both inside and outside the Mouse House have told Deadline they are expecting redundancies and budget cuts to come shortly, and that these plans are currently being finalized.
Disney has approximately 5,000 staff outside the U.S., we understand, with around 40% based in Hammersmith, West London, and others stationed across Europe and Asia. Disney+’s content team is based in the English capital and reports to Diego Londono, the organization’s EVP, Media Networks and Content, while there are boots on the ground in key territories such as France and Germany.
Disney CEO Bob Iger is understood to have journeyed to London late last month, during which time he met staff and visited studios where Disney films are being shot.
Disney’s shareholder meeting took place yesterday and the first of three rounds of around 7,000 layoffs started last week as CEO Bob Iger seeks $5.5BN in cost savings. Managers had been finalizing details of the new structure. Sources have described the second round – which will likely come in a few weeks – as “the big one” and a “bloodbath.” The third is expected before the summer.
Outside the U.S., insiders said they are waiting with bated breath. As the Disney+ content teams are the most numerous, they are likely to face cuts but areas such as marketing and legal are also under threat. It is unclear at this point whether the international layoffs would comprise part of the 7,000 or be additional.
One source said, “Undoubtedly there will be cuts, so we are waiting for names and headcount details to emerge.”
Another insider said the international division is “right in the midst of [the decision-making],” although this source expects to be hit harder by budget cuts than redundancies. Should redundancies form part of the plan, they could take longer to organize than the U.S. due to the UK’s differing labor laws.
Some of the nerves were put down to the imminent departure of Rebecca Campbell, the Chairman of International Operations, whose exit was announced a day after Iger’s proposed layoffs emerged in February. “Those with reporting lines into her will be worried,” said a source.
Campbell is set to depart in June after a transition period and there has been no news on her replacement. She is credited with rolling out Disney+ across Europe, the Middle East, Latin America and Asia, and for overseeing the Star+ streamer in Latin America. Her exit comes after 26 years.
The news comes after a period during which the U.S. streamers’ international divisions have been mostly protected from the mass layoffs that have also been actioned by the likes of Netflix, Paramount and Warner Bros. Discovery. Streamers see growth and subs opportunities outside the U.S. and want to keep riding the non-English-language content wave created by the likes of Squid Game.
Disney+ has been ambitious since launching a content team outside the U.S., targeting 60 international originals in its first two years, a target that it was on track for prior to the U.S. layoffs. Speaking to Deadline in October, Londono rejected any notion he would “change direction” due to the shifting climate, but things have developed further since then and unforeseen changes have come to pass.
Disney+’s key international originals include the likes of Extraordinary from Killing Eve producer Sid Gentle, France’s Oussekine and Parallels and Italy’s The Ignorant Angels. Shows in production include the big-budget A Thousand Blows, which is an upcoming Victorian period drama penned by Steven Knight and starring Stephen Graham, Malachi Kirby and The Crown’s Erin Doherty, along with adventure series Nautilus and an Australian adaptation of The Artful Dodger.
Disney is gearing up for Star Wars Celebration Europe this week in London. Events begin at the ExCel Centre in London on Friday (April 7) and run across the Easter weekend, ending on Monday evening.
Disney declined to comment on the cuts.
Disney EMEA Staff Bracing For Layoffs & Content Cuts
By Max Goldbart, Jesse Whittock
April 4, 2023 3:42am PDT
EXCLUSIVE: Disney’s international teams are braced for layoffs and content cuts.
Multiple sources both inside and outside the Mouse House have told Deadline they are expecting redundancies and budget cuts to come shortly, and that these plans are currently being finalized.
Disney has approximately 5,000 staff outside the U.S., we understand, with around 40% based in Hammersmith, West London, and others stationed across Europe and Asia. Disney+’s content team is based in the English capital and reports to Diego Londono, the organization’s EVP, Media Networks and Content, while there are boots on the ground in key territories such as France and Germany.
Disney CEO Bob Iger is understood to have journeyed to London late last month, during which time he met staff and visited studios where Disney films are being shot.
Disney’s shareholder meeting took place yesterday and the first of three rounds of around 7,000 layoffs started last week as CEO Bob Iger seeks $5.5BN in cost savings. Managers had been finalizing details of the new structure. Sources have described the second round – which will likely come in a few weeks – as “the big one” and a “bloodbath.” The third is expected before the summer.
Outside the U.S., insiders said they are waiting with bated breath. As the Disney+ content teams are the most numerous, they are likely to face cuts but areas such as marketing and legal are also under threat. It is unclear at this point whether the international layoffs would comprise part of the 7,000 or be additional.
One source said, “Undoubtedly there will be cuts, so we are waiting for names and headcount details to emerge.”
Another insider said the international division is “right in the midst of [the decision-making],” although this source expects to be hit harder by budget cuts than redundancies. Should redundancies form part of the plan, they could take longer to organize than the U.S. due to the UK’s differing labor laws.
Some of the nerves were put down to the imminent departure of Rebecca Campbell, the Chairman of International Operations, whose exit was announced a day after Iger’s proposed layoffs emerged in February. “Those with reporting lines into her will be worried,” said a source.
Campbell is set to depart in June after a transition period and there has been no news on her replacement. She is credited with rolling out Disney+ across Europe, the Middle East, Latin America and Asia, and for overseeing the Star+ streamer in Latin America. Her exit comes after 26 years.
The news comes after a period during which the U.S. streamers’ international divisions have been mostly protected from the mass layoffs that have also been actioned by the likes of Netflix, Paramount and Warner Bros. Discovery. Streamers see growth and subs opportunities outside the U.S. and want to keep riding the non-English-language content wave created by the likes of Squid Game.
Disney+ has been ambitious since launching a content team outside the U.S., targeting 60 international originals in its first two years, a target that it was on track for prior to the U.S. layoffs. Speaking to Deadline in October, Londono rejected any notion he would “change direction” due to the shifting climate, but things have developed further since then and unforeseen changes have come to pass.
Disney+’s key international originals include the likes of Extraordinary from Killing Eve producer Sid Gentle, France’s Oussekine and Parallels and Italy’s The Ignorant Angels. Shows in production include the big-budget A Thousand Blows, which is an upcoming Victorian period drama penned by Steven Knight and starring Stephen Graham, Malachi Kirby and The Crown’s Erin Doherty, along with adventure series Nautilus and an Australian adaptation of The Artful Dodger.
Disney is gearing up for Star Wars Celebration Europe this week in London. Events begin at the ExCel Centre in London on Friday (April 7) and run across the Easter weekend, ending on Monday evening.
Disney declined to comment on the cuts.
wabbott
DIS Veteran
- Joined
- Aug 4, 2021
- Messages
- 6,373
https://www.fool.com/investing/2023...hoo-host&utm_medium=feed&utm_campaign=article
When Will Disney World Announce a Fifth Theme Park?
By Rick Munarriz – Apr 4, 2023 at 10:04AM EDT
Key Points
$182B
Today's Change
(-0.81%) -$0.81
Current Price
$98.95
Price as of April 4, 2023, 10:54 a.m. ET
Bob Iger is pointing to $17 billion invested to grow Disney World in the next 10 years. You can win an arms race with mouse ears.
Walt Disney (DIS -0.81%) CEO Bob Iger tossed out a pretty big number during this week's annual meeting of shareholders. Asked about the run-ins that the media giant has had with Florida Gov. Ron DeSantis over the past year, Iger chose to play the lobby card.
Iger voiced his frustration with the state retaliating against the House of Mouse, arguing that Disney is Florida's largest taxpayer. He also mentioned that Disney expects to spend another $17 billion to expand its Florida resort in the next decade. It's a smart approach, taking the high road of flexing what Disney can do for Florida instead of loading its quiver with zingers.
Iger's diplomatic approach in tackling some of the meeting's thorniest shareholder questions during the session's Q&A component was artful. He was able to -- wait. Did he really say $17 billion dollars in the next 10 years? Disney spends a lot of money on its gated attractions in Florida. It just invested heavily over the past 18 months to create new experiences and attractions for its guests to enjoy as Disney World celebrated its golden anniversary. Is something even bigger on the way? Is the world's leading theme park operator finally going to develop a fifth theme park at Disney World?
Day's Range
$98.83 - $100.42
52wk Range
$84.07 - $139.26
Party like it's 2033
Earmarking so much money for a resort expansion may seem like a luxury that Disney doesn't have at the moment. Iger announced less than two months ago that he would be shaving $5.5 billion in spending and trimming Disney's headcount by 7,000. Now he wants to spend $17 billion -- creating 13,000 new jobs -- in Disney World over the next decade?
Disney isn't afraid to spend big money on its theme parks. An industry consultant estimates that Disney spent as much as $500 million on the Guardians of the Galaxy Cosmic Rewind roller coaster it opened in Florida last year. It reportedly invested about $1 billion a decade ago to develop the MyMagic+ admissions and guest-tracking technology that has evolved dramatically over the years.
There's still no denying that $17 billion is a big number, especially when that forecast is tethered to thousands of new positions at Disney World. There will undeniably be more resort hotels and expansion of existing theme parks. The easiest path to growing revenue is to increase supply through new attractions that drum up demand. However, it's not going to surprise anyone if Disney does introduce a whole new theme park in the next decade.
Comcast's Universal Orlando resort, just a few minutes away from Disney World, hasn't had a problem building new parks, and it has a sliver of Disney's massive real estate to play with. It opened the Volcano Bay high-tech waterpark in 2017. Epic Universe could raise the bar for traditional theme parks when it debuts in 2025. Does anyone believe Disney won't have a response in its most important theme park market?
Disney has cleared the way for adding at least another major theme park to its Florida turf, but this happened years ago. It could take several more years before it happens. It may never happen at all. However, it's important to remember that Iger returned to the helm on a two-year term. The clock is ticking.
Iger has a short wick. He has eight quarterly reports to turn the company around. He also has to cement his legacy. He has to leave the corner office turnkey so his eventual successor can't fumble the crown. He's cutting costs now, but it would be shocking if he doesn't start planting the seeds of future growth as we head into fiscal 2024. He has dreams, and those fantasies don't come cheap when you're the ultimate bellwether of media stocks. He may have flashed his cards early during Monday's shareholder meeting, but he has 18 months to play the winning hand he's holding.
Come on, Iger. Announce the fifth gate.
When Will Disney World Announce a Fifth Theme Park?
By Rick Munarriz – Apr 4, 2023 at 10:04AM EDT
Key Points
- Disney has insisted that it doesn't need to build a new theme park to grow its business, but rival Universal Orlando will open Epic Universe in 2025.
- CEO Bob Iger is on a two-year contract, giving him eight quarters to turn Disney around and leave it pointing in the right direction.
- It's not right to be flashy in a time when Disney is going through layoffs and cost cuts, but the time to flex is coming.
NYSE: DIS
Walt Disney
Market Cap$182B
Today's Change
(-0.81%) -$0.81
Current Price
$98.95
Price as of April 4, 2023, 10:54 a.m. ET
Bob Iger is pointing to $17 billion invested to grow Disney World in the next 10 years. You can win an arms race with mouse ears.
Walt Disney (DIS -0.81%) CEO Bob Iger tossed out a pretty big number during this week's annual meeting of shareholders. Asked about the run-ins that the media giant has had with Florida Gov. Ron DeSantis over the past year, Iger chose to play the lobby card.
Iger voiced his frustration with the state retaliating against the House of Mouse, arguing that Disney is Florida's largest taxpayer. He also mentioned that Disney expects to spend another $17 billion to expand its Florida resort in the next decade. It's a smart approach, taking the high road of flexing what Disney can do for Florida instead of loading its quiver with zingers.
Iger's diplomatic approach in tackling some of the meeting's thorniest shareholder questions during the session's Q&A component was artful. He was able to -- wait. Did he really say $17 billion dollars in the next 10 years? Disney spends a lot of money on its gated attractions in Florida. It just invested heavily over the past 18 months to create new experiences and attractions for its guests to enjoy as Disney World celebrated its golden anniversary. Is something even bigger on the way? Is the world's leading theme park operator finally going to develop a fifth theme park at Disney World?
Day's Range
$98.83 - $100.42
52wk Range
$84.07 - $139.26
Party like it's 2033
Earmarking so much money for a resort expansion may seem like a luxury that Disney doesn't have at the moment. Iger announced less than two months ago that he would be shaving $5.5 billion in spending and trimming Disney's headcount by 7,000. Now he wants to spend $17 billion -- creating 13,000 new jobs -- in Disney World over the next decade?
Disney isn't afraid to spend big money on its theme parks. An industry consultant estimates that Disney spent as much as $500 million on the Guardians of the Galaxy Cosmic Rewind roller coaster it opened in Florida last year. It reportedly invested about $1 billion a decade ago to develop the MyMagic+ admissions and guest-tracking technology that has evolved dramatically over the years.
There's still no denying that $17 billion is a big number, especially when that forecast is tethered to thousands of new positions at Disney World. There will undeniably be more resort hotels and expansion of existing theme parks. The easiest path to growing revenue is to increase supply through new attractions that drum up demand. However, it's not going to surprise anyone if Disney does introduce a whole new theme park in the next decade.
Comcast's Universal Orlando resort, just a few minutes away from Disney World, hasn't had a problem building new parks, and it has a sliver of Disney's massive real estate to play with. It opened the Volcano Bay high-tech waterpark in 2017. Epic Universe could raise the bar for traditional theme parks when it debuts in 2025. Does anyone believe Disney won't have a response in its most important theme park market?
Disney has cleared the way for adding at least another major theme park to its Florida turf, but this happened years ago. It could take several more years before it happens. It may never happen at all. However, it's important to remember that Iger returned to the helm on a two-year term. The clock is ticking.
Iger has a short wick. He has eight quarterly reports to turn the company around. He also has to cement his legacy. He has to leave the corner office turnkey so his eventual successor can't fumble the crown. He's cutting costs now, but it would be shocking if he doesn't start planting the seeds of future growth as we head into fiscal 2024. He has dreams, and those fantasies don't come cheap when you're the ultimate bellwether of media stocks. He may have flashed his cards early during Monday's shareholder meeting, but he has 18 months to play the winning hand he's holding.
Come on, Iger. Announce the fifth gate.
- Joined
- Apr 29, 2004
- Messages
- 38,106
I'm always amused by folks that conflate current operating expenses and long-term investments. They are two different things.
Dealing with current operating expenses is dealt with by reducing current staff levels and cutting back on things that can be adjusted. Some current operating expenses can't easily adjusted. Deprecation/amortization is what it is. You can't change that. Costs for consumables and food is difficult to control in the short term.
Long-term investments however are a different animal. Even if current operations are being stressed financially, looking ahead to the long term investment strategy is still needed. You can't just decide 3 years from now to open a brand new attraction/park in the next quarter. You need to plan that out now.
wabbott
DIS Veteran
- Joined
- Aug 4, 2021
- Messages
- 6,373
You're correct. If a company plans to stay in business, rather than slowly liquidate by not updating and/or neglecting maintenance, long-range plans must be made. Maybe the author was pointing out the optics. If I were one of the laid off employees, I would probably complain that it's wrong (define wrong) for me to lose my job if they've got that much money to spend on WDW.
I am glad to hear what he said, though. Looks like he figured out that streaming may not be the money machine that everyone thought a year or two ago. Maybe when they start with the paid advertising it will be.
wabbott
DIS Veteran
- Joined
- Aug 4, 2021
- Messages
- 6,373
https://www.wesh.com/article/disney-jobs/43512400
Central Florida's theme parks are booming right now.
Walt Disney World's CEO Bob Iger announced plans to invest billions of dollars over the next decade.
Universal is building a new theme park and a surrounding complex with hotels, restaurants and more. And the competition is on to hire workers to fill all those new jobs.
“Just over 50 years ago, everything you see around me was remote pasture and swamp land,” Iger said.
Fifty years later, Walt Disney World is described as the most Magical Place on Earth.
From EPCOT to Magic Kingdom, Iger says they're now looking to the future.
“We're currently planning now to invest over $17 billion in Walt Disney World over the next 10 years,” Iger said.
Billions of dollars set to come to Disney means more workers. Iger says they estimate the investment will create 13,000 new jobs and thousands of other indirect jobs.
“It will also attract more people to the state and generate more taxes,” Iger said.
Disney isn't the only theme park in Orlando focused on its growth.
Epic Universe, the new attraction from Universal, is set to open in the summer of 2025, also leading to thousands of opportunities for new jobs when it opens in two years.
“With Iger saying that they're adding 13,000 jobs over the next 10 years, I think it's worth keeping in mind that Universal is adding 14,000 jobs in just the next couple years. So, it is a dramatic change. And it is a huge growth in a
short amount of time,” Alicia Stella with Theme Park Stop said. “It's going to be up to Universal and Disney to entice the employees to come to them and not to the other guys.”
Theme park experts say money is one way to entice potential employees. Disney agreed to raise its minimum wage to $18 an hour by the end of the year for Cast Members. Universal bumped its base pay to $17 across its entire company which goes into effect June 4.
Disney, Universal competing to fill thousands of new jobs
Updated: 8:14 PM EDT Apr 4, 2023 LAKE BUENA VISTA, Fla. —Central Florida's theme parks are booming right now.
Walt Disney World's CEO Bob Iger announced plans to invest billions of dollars over the next decade.
Universal is building a new theme park and a surrounding complex with hotels, restaurants and more. And the competition is on to hire workers to fill all those new jobs.
“Just over 50 years ago, everything you see around me was remote pasture and swamp land,” Iger said.
Fifty years later, Walt Disney World is described as the most Magical Place on Earth.
From EPCOT to Magic Kingdom, Iger says they're now looking to the future.
“We're currently planning now to invest over $17 billion in Walt Disney World over the next 10 years,” Iger said.
Billions of dollars set to come to Disney means more workers. Iger says they estimate the investment will create 13,000 new jobs and thousands of other indirect jobs.
“It will also attract more people to the state and generate more taxes,” Iger said.
Disney isn't the only theme park in Orlando focused on its growth.
Epic Universe, the new attraction from Universal, is set to open in the summer of 2025, also leading to thousands of opportunities for new jobs when it opens in two years.
“With Iger saying that they're adding 13,000 jobs over the next 10 years, I think it's worth keeping in mind that Universal is adding 14,000 jobs in just the next couple years. So, it is a dramatic change. And it is a huge growth in a
short amount of time,” Alicia Stella with Theme Park Stop said. “It's going to be up to Universal and Disney to entice the employees to come to them and not to the other guys.”
Theme park experts say money is one way to entice potential employees. Disney agreed to raise its minimum wage to $18 an hour by the end of the year for Cast Members. Universal bumped its base pay to $17 across its entire company which goes into effect June 4.
butterscotchcollins
Drop Chicken
- Joined
- Jul 12, 2019
- Messages
- 1,479
In terms of competitive wages this can only be good news for workers but does Central FL currently have the housing and infrastructure to support?
Douglas Dubh
DIS Veteran
- Joined
- Nov 13, 1999
- Messages
- 4,634
No. Hence the price of housing continuing to rise.
- Joined
- Apr 29, 2004
- Messages
- 38,106
The number of new homes/condos/appartments going up in the area is astounding.
Brocktoon
21st Century Schizoid Man
- Joined
- May 5, 2006
- Messages
- 3,061
I was recently in the Tampa / St Pete's area and the amount of housing construction was crazy as well. They really need to do something with the transport infrastructure. It looked like the I-4 corridor in central FL is a nightmare ... huge influx of population but no way to move around
- Joined
- Apr 29, 2004
- Messages
- 38,106
Agree about the I-4 being a road to avoid if at all possible.
Most of it will be existing labor getting siphoned from either the other park(s) or hospitality related businesses.
AvidDisReader
DIS Veteran
- Joined
- Mar 24, 2019
- Messages
- 1,073
I have said this before and will keep repeating. There is an untapped 10 plus million available work force in this country. All we need is comprehensive immigration reform to allow all those illegal aliens to be legal and obtain work visas. Labor shortage would be instantly solved. My early prediction, this next presidential election cycle will have BOTH candidates making promises to fix this issue now - big businesses will be pushing for it.
Douglas Dubh
DIS Veteran
- Joined
- Nov 13, 1999
- Messages
- 4,634
I think that’s a bad idea, but don’t want to see this thread get locked if I said why and it became a political argument.
wabbott
DIS Veteran
- Joined
- Aug 4, 2021
- Messages
- 6,373
https://finance.yahoo.com/news/walt-disney-company-executives-discuss-170000893.html
Wed, April 5, 2023 at 12:00 PM CDT·1 min read
BURBANK, Calif., April 05, 2023--(BUSINESS WIRE)--The Walt Disney Company (NYSE: DIS) will discuss fiscal second quarter 2023 financial results via a live audio webcast beginning at 4:30 p.m. ET / 1:30 p.m. PT on Wednesday, May 10, 2023.
Results will be released after the close of regular trading on May 10, 2023.
To listen to the webcast, please visit www.disney.com/investors. The webcast presentation will be archived.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230405005204/en/
Contacts
Alexia Quadrani
Investor Relations
(818) 560-6601
Mike Long
Corporate Communications
(818) 560-4588
The Walt Disney Company Executives to Discuss Fiscal Second Quarter 2023 Financial Results via Webcast
Business WireWed, April 5, 2023 at 12:00 PM CDT·1 min read
BURBANK, Calif., April 05, 2023--(BUSINESS WIRE)--The Walt Disney Company (NYSE: DIS) will discuss fiscal second quarter 2023 financial results via a live audio webcast beginning at 4:30 p.m. ET / 1:30 p.m. PT on Wednesday, May 10, 2023.
Results will be released after the close of regular trading on May 10, 2023.
To listen to the webcast, please visit www.disney.com/investors. The webcast presentation will be archived.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230405005204/en/
Contacts
Alexia Quadrani
Investor Relations
(818) 560-6601
Mike Long
Corporate Communications
(818) 560-4588
jade1
I spend half my money on WDW, and waste the rest.
- Joined
- Dec 30, 2001
- Messages
- 11,634
Sweet. Looking forward to this happening.
wabbott
DIS Veteran
- Joined
- Aug 4, 2021
- Messages
- 6,373
https://www.wsj.com/articles/disney-marvel-perlmutter-laid-off-fired-16821248
Ike Perlmutter: Disney Fired Me From Marvel, I Wasn’t Laid Off
Disney says chairman’s dismissal was part of cost-cutting plan; he says it was because he clashed with creative executives
By Robbie Whelan
April 5, 2023 3:09 pm EDT
Isaac “Ike” Perlmutter says Walt Disney Co. fired him as chairman of Marvel Entertainment because he pushed Disney too aggressively to cut costs and ran afoul of the creative executives whom newly returned Chief Executive Robert Iger wants to empower.
In a rare interview, the 80-year-old Mr. Perlmutter spoke to The Wall Street Journal about his dismissal from Disney last week, his relationship with Mr. Iger, and missteps he feels Disney has made in recent years.
Ike Perlmutter: Disney Fired Me From Marvel, I Wasn’t Laid Off
Disney says chairman’s dismissal was part of cost-cutting plan; he says it was because he clashed with creative executives
By Robbie Whelan
April 5, 2023 3:09 pm EDT
Isaac “Ike” Perlmutter says Walt Disney Co. fired him as chairman of Marvel Entertainment because he pushed Disney too aggressively to cut costs and ran afoul of the creative executives whom newly returned Chief Executive Robert Iger wants to empower.
In a rare interview, the 80-year-old Mr. Perlmutter spoke to The Wall Street Journal about his dismissal from Disney last week, his relationship with Mr. Iger, and missteps he feels Disney has made in recent years.
-
New Magic Shots for Asian American Pacific Islander Heritage
-
Meet Red Guardian at Disneyland Resort for a Limited Time
-
New Merch Celebrating Disney Fantasy Ship's Arrival in Europe
-
The Millennial Pink Shake is Back in Disney Springs!
-
New $60/Day FL Resident Summer Magic Tickets for Walt Disney World
-
Disney Shares NEW Details on What's to Come for 'Cool Kid Summer'
-
New Halfway to Halloween May Menu at Gideon's Bakehouse
Save Up to 30% on Rooms at Walt Disney World!
Save up to 30% on rooms at select Disney Resorts Collection hotels when you stay 5 consecutive nights or longer in late summer and early fall. Plus, enjoy other savings for shorter stays.This offer is valid for stays most nights from August 1 to October 11, 2025.
CLICK HERE
