DIS Shareholders and Stock Info ONLY

[Brian Noble]

To be fair, he did get hit upside the head with the pandemic shortly after taking the job. A lot was probably his fault, but not all of it.

 

[RivShore]

To be fair, he did get hit upside the head with the pandemic shortly after taking the job. A lot was probably his fault, but not all of it.

That is true, we like to blame old Bob C. for everything but between the pandemic and the streaming transition, that no legacy competitor has been able to handle well, he did not have a chance.

 

[RivShore]

Good for Bob. He had a lot of work to do unwinding all the things that went so wrong under Chapeck

I suppose but profiting so greatly from a mistake Bob I. is almost solely responsible for, does not really sit well with me. He installed Bob C. without proper board vetting or a true search for other candidates. A nice reward for causing the mess in the first place...

 

[OKW Lover]

He installed Bob C. without proper board vetting or a true search for other candidates. A nice reward for causing the mess in the first place...

It's the board's job to pick the successor, not the incumbent.

 

[RivShore]

It's the board's job to pick the successor, not the incumbent.

Many in depth articles over the summer described a quick process where Bob I. was the real decider. Bob C. had one very brief discussion with one board member before he was hired. Hardly proper due diligence.

 

[wabbott]

https://www.hollywoodreporter.com/business/business-news/hollywood-production-decline-1236114887/

Another Sobering Snapshot of Hollywood’s Production Decline

A Luminate report finds the total number of TV episodes produced in 2024 fell by nearly 5,000 compared to just two years earlier as streaming and broadcast networks curb spending.

January 22, 2025 2:59pm
by Erik Hayden

 

[wabbott]

https://www.hollywoodreporter.com/b...nielsen-media-distributor-ranking-1236120053/

Disney and YouTube In Close Race for Overall TV Viewing Crown
Bob Iger's empire kept the Google-owned platform at bay in Nielsen's monthly media distributor rankings for December.

by Erik Hayden - January 28, 2025, 5:00am PST

 

[wabbott]

https://www.cnbc.com/2025/01/30/comcast-cmcsa-earnings-q4-2024.html

Comcast beats earnings estimates but underwhelms in broadband, Peacock subscribers

Published Thu, Jan 30, 2025 - 6:30 AM EST - Updated 45 Min Ag

by Lillian Rizzo@Lilliannnn
Key Points

• Comcast topped Wall Street's fourth-quarter estimates despite reporting larger-than-expected broadband subscriber losses and stagnating paid subscribers for its streaming service, Peacock.
• Comcast's overall revenue was up 2% to $31.92 billion, thanks to an increase in segments including its mobile business, the film studio and revenue growth at streaming service Peacock.
• Peacock had 36 million subscribers during the most recent quarter, up year over year but flat from the prior period.

 

[clarker99]

Comcast Theme Parks

Q4 YoY
Revenue
'24 $2.374B
'23 $2.371B
+0.1%
EBITDA
'24 $838M
'23 $872M
-3.9%
Commentary said results were driven by lower domestic attendance.

FY24 vs FY23
Revenue -3.7%
EBITDA -11.9%
Margin down from 37.4% in '23 to 34.2% in '24.

 

[wabbott]

https://deadline.com/2025/01/charter-ceo-chris-winfrey-comcast-merger-chatter-cable-tv-1236274425/

Charter CEO Chris Winfrey Addresses “Chatter” About Potential Blockbuster Merger With Comcast, Doesn’t See “Wide-Open” Path To Deal Under Donald Trump

By Dade Hayes - Business Editor @dadehayes
January 31, 2025 -- 11:16am PST

 

[wabbott]

Disney's succession plans in focus ahead of earnings

 

[wabbott]

https://variety.com/2025/digital/news/youtube-google-q4-2024-earnings-record-ad-revenue-1236296767/

Feb 4, 2025 1:12pm PST
by Todd Spangler

YouTube Q4 Ad Sales Hit Record $10.5 Billion, Parent Alphabet Projects $75 Billion in 2025 Capex Spending Amid AI Arms Race
Tech giant says boost in YouTube advertising revenue was driven by 2024 U.S. election spending

 

[OKW Lover]

Disney's succession plans in focus ahead of earnings

I thought there was quite the emphasis on this in Disney's Proxy and 10K. The company is making a big point about succession planning.

 

[HokieRaven5]

The Walt Disney Company Q1 FY25 Earnings Report

Financial Results for the Quarter:
• Revenues increased 5% for Q1 to $24.7 billion from $23.5 billion in Q1 fiscal 2024
• Income before income taxes increased 27% for Q1 to $3.7 billion from $2.9 billion in Q1 fiscal 2024
• Diluted earnings per share (EPS) increased 35% for Q1 to $1.40 from $1.04 in Q1 fiscal 2024
• Total segment operating income(1) increased 31% for Q1 to $5.1 billion from $3.9 billion in Q1 fiscal 2024 and adjusted EPS(1) increased 44% for Q1 to $1.76 from $1.22 in Q1 fiscal 2024
Key Points:
• Entertainment: Segment operating income increased $0.8 billion to $1.7 billion
◦ Direct-to-Consumer operating income increased $431 million to $293 million
◦ Direct-to-Consumer advertising revenue declined 2%; excluding the Disney+ Hotstar service in India(2), Direct-to-Consumer advertising revenue was up 16% vs. Q1 fiscal 2024
◦ 178 million Disney+ and Hulu subscriptions, an increase of 0.9 million vs. Q4 fiscal 2024
◦ 125 million Disney+ subscribers, a decrease of 0.7 million vs. Q4 fiscal 2024
◦ Content Sales/Licensing and Other operating income increased $536 million to $312 million driven by the performance of Moana 2
• Sports: Segment operating income increased $350 million to $247 million
◦ Domestic ESPN advertising revenue up 15% vs. Q1 fiscal 2024
• Experiences: Segment operating income of $3.1 billion comparable to Q1 fiscal 2024, reflecting a 6 percentage-point adverse impact to year-over-year growth due to Hurricanes Milton and Helene (~$120 million impact) and pre-opening expenses (~$75 million impact in Q1 fiscal 2025) driven by the launch of the Disney Treasure
◦ Domestic Parks & Experiences operating income declined 5%, reflecting a 9 percentage-point adverse impact to year-over-year growth due to the hurricanes and cruise pre-opening expenses

Guidance and Outlook:
• Star India deconsolidated in Q1(1):
◦ Our India business will contribute $73 million to Entertainment segment operating income in fiscal 2025, compared to $254 million in the prior year; and $9 million to Sports segment operating income, compared to a $636 million loss in the prior year
◦ Equity loss from the India JV of $33 million in Q1 primarily due to the impact of purchase
accounting; for the full year we expect an equity loss of roughly $300 million driven by purchase accounting
• Q2 Fiscal 2025:
◦ Entertainment Direct-to-Consumer: Modest decline in Disney+ subscribers compared to Q1
◦ Sports: Segment operating income adversely impacted by approximately $100 million due to
college sports and one additional NFL game, and about $50 million from exiting the Venu Sports JV
◦ Experiences: Disney Cruise Line pre-opening expense of approximately $40 million
• Fiscal Year 2025:
◦ High-single digit adjusted EPS(2) growth compared to fiscal 2024
◦ Approximately $15 billion in cash provided by operations
◦ Entertainment: Double-digit percentage segment operating income growth, with an increase in Entertainment Direct-to-Consumer operating income of approximately $875 million(3)
◦ Sports: 13% segment operating income growth
◦ Experiences: 6% to 8% segment operating income growth
◦ Disney Cruise Line pre-opening expense of ~$200 million


Message From Our CEO:
“Our results this quarter demonstrate Disney’s creative and financial strength as we advanced the strategic initiatives set in motion over the past two years,” said Robert A. Iger, Chief Executive Officer, The Walt Disney Company. “In fiscal Q1 we saw outstanding box office performance from our studios, which had the top three movies of 2024; we further improved the profitability of our Entertainment DTC streaming businesses; we took an important step to advance ESPN’s digital strategy by adding an ESPN tile on Disney+; and our Experiences segment demonstrated its enduring appeal as we continue investing strategically across the globe. Overall, this quarter proved to be a strong start to the fiscal year, and we remain confident in our strategy for continued growth.”

 

[HokieRaven5]

The Walt Disney Company 10-Q Filing

For parks data:

Domestic:

Attendance down 2%
Per Capita Spending up 4%
Hotel Occupancy flat at 85%
Changes in per room guest spending up 5%

International:

Attendance up 4%
Per Capita spending up 3%
Occupancy up to 86% vs 80%
Changed in per room guest spending up 17%

 

[wabbott]

https://www.wsj.com/business/media/disney-dis-q1-earnings-report-2025-368449b5?mod=hp_lead_pos5

Disney Earnings Bolstered by Streaming Gains, ‘Moana 2’
Entertainment giant tops Wall Street expectations on core metrics; streaming push continues

By Isabella Simonetti
Feb. 5, 2025 - 6:40 am EST

Streaming gains and a strong box office showing by “Moana 2” bolstered Disney’s performance in the final three months of last year, signs that its turnaround strategy is bearing fruit.

Disney’s earnings topped Wall Street expectations for key metrics including revenue, net income and streaming profit.

The company said a new ESPN tile on Disney+ and improved direct-to-consumer profitability showed progress in its streaming-centric strategy. Cord-cutting continued to weigh on the company’s legacy TV business.

Disney’s streaming business, home to Disney+, Hulu and ESPN+, reported a profit of $293 million for the three months through December, compared with a $138 million loss a year earlier. That profit exceeded analyst expectations by more than $100 million.

Price increases during the period buoyed its revenue, and Disney+ lost fewer customers from the price hike than expected. The company’s two biggest streaming services, Disney+ and Hulu, had 178 million paid subscribers at the end of December, up from 177.3 million at the end of the prior quarter.

The company continues to build out its stable of streaming offerings and plans to launch a new ESPN direct-to-consumer service later this year.

Disney, Fox Corp. and Warner in January called off a separate planned sports streaming joint venture called Venu Sports in the face of legal challenges. Exiting that venture is likely to lead to a $50 million hit to Disney’s sports operating income in the current quarter, the company said.

Earlier this year, Disney agreed to combine its Hulu + Live TV streaming service with sports-focused Fubo TV, ending Fubo’s litigation over the formation of Venu.

After a strong 2024 at the box office, “Moana 2” helped Disney’s studio end the year on a high note. The unit reported a profit of $312 million compared with a $224 million loss a year earlier. “Moana 2,” released late last year, has grossed more than $1 billion.

Companywide revenue increased 5% to $24.7 billion in the quarter ended Dec. 28. Net income climbed 34% to $2.6 billion.

Disney shares are up roughly 2% year-to-date and 17% over the past year.

Hurricanes Milton and Helene dinged the performance of Disney’s Experiences unit, which is home to its theme parks and cruises. Milton led to a one-day closure of Walt Disney World Resort and the cancellation of a cruise itinerary.

Experiences’ income of $3.1 billion for the final three months of 2024 was relatively unchanged compared with the prior-year period.

Disney had previously said it expects operating income in the Experiences division to grow by 6% to 8% in its 2025 fiscal year, with most of that growth coming during the second half.

Operating income for Disney’s traditional TV business declined 11% to $1.1 billion. Its domestic business fared better, with operating income for the final quarter flat year-over-year.

Write to Isabella Simonetti at isabella.simonetti@wsj.com

 

[clarker99]

On a rolling 4 quarter basis, Disney broke its Operating Income record and the upward trajectory continues.

 

[wabbott]

https://www.hollywoodreporter.com/b.../disney-content-spending-estimate-1236128612/

Disney Lowers Content Spending Estimate by $1B for This Year

As Wall Street analysts parse its earnings beat and stagnate streaming subscriber growth, the company revises its spending expectation from $24 billion to $23 billion for produced and licensed content, as well as sports rights.

by Erik Hayden
February 6, 2025 - 8:24am PST

 

[clarker99]

RE: Disney+ Hotstar

Disney+ Hotstar clients have only produced $0.59/mo per user over the last 2 reported quarters.

Tech costs alone run Disney about $1.25 to $1.30 per user per month.

Every single Hotstar subscriber that cancels is a net positive for Disney's bottom line.

Disney removed all India Disney+ Hotstar subscribers off their books, due the merger with Reliance, and made more money. It seems I was right all those months ago.

 

[wabbott]

https://variety.com/vip/why-broadcast-networks-streamers-can-coexist-for-now-1236299535/

February 7, 2025 - 6:00 am PST
Why Broadcast Networks Can Coexist With Streamers for the Time Being
by Tyler Aquilina

• Broadcast networks still have value as engagement generators and content providers beyond live sports
• Network originals are drawing strong linear and streaming viewership, with the latter bringing in younger viewers
• Broadcast sensibilities work on SVOD, and the shows help fulfill functions streaming has not yet mastered