wabbott
DIS Veteran
- Joined
- Aug 4, 2021
Did we ever hear if Cramer's "charitable trust" (guffaw, guffaw, guffaw) owns any DIS and at what price?
DIS Shareholders and Stock Info ONLY
- Thread starter hhisc16
- Start date
LOL...I am pretty sure they do own it, not sure about at what price, though.
wabbott
DIS Veteran
- Joined
- Aug 4, 2021
https://www.streetinsider.com/Gener...TV+series+to+rivals+-+Bloomberg/21160810.html
Walt Disney (DIS) could sell more films and TV series to rivals - Bloomberg
Walt Disney (NYSE: DIS) is looking at potentially selling more of its films and television series to rival media outlets, according to Bloomberg, citing people familiar with the discussions.
The business is said to be looking into the move in a bid to earn more cash from its content library and curb the losses in its streaming business.
Any such move for the Burbank, California-based company would represent a shift in strategy, with Disney previously keeping much of its original programming only on Disney+ and Hulu.
There is pressure on Disney to improve its financial performance and change its streaming strategy. The stock is down more than 20% in the last 12 months.
In its third quarter, Disney reported a $1.5 billion loss for its online video business and the company's board replaced Chief Executive Officer Bob Chapek with Bob Iger, who previously held the role. Iger has the task of redesigning the company's organizational structure, which includes reversing some decisions made by the former CEO.
According to Bloomberg, the restructuring will result in personnel cuts, although it is not clear how many people will lose their jobs.
The publication adds that Disney management has discussed selling more titles to third parties, although it remains to be seen if they keep them in-house or not.
By Sam Boughedda
Walt Disney (DIS) could sell more films and TV series to rivals - Bloomberg
February 3, 2023 2:07 PM EST
Walt Disney (NYSE: DIS) is looking at potentially selling more of its films and television series to rival media outlets, according to Bloomberg, citing people familiar with the discussions.
The business is said to be looking into the move in a bid to earn more cash from its content library and curb the losses in its streaming business.
Any such move for the Burbank, California-based company would represent a shift in strategy, with Disney previously keeping much of its original programming only on Disney+ and Hulu.
There is pressure on Disney to improve its financial performance and change its streaming strategy. The stock is down more than 20% in the last 12 months.
In its third quarter, Disney reported a $1.5 billion loss for its online video business and the company's board replaced Chief Executive Officer Bob Chapek with Bob Iger, who previously held the role. Iger has the task of redesigning the company's organizational structure, which includes reversing some decisions made by the former CEO.
According to Bloomberg, the restructuring will result in personnel cuts, although it is not clear how many people will lose their jobs.
The publication adds that Disney management has discussed selling more titles to third parties, although it remains to be seen if they keep them in-house or not.
By Sam Boughedda
Jrb1979
DIS Veteran
- Joined
- Dec 2, 2018
That would not be a good idea to sell off films and media when they are trying to grow D+. It's not a good look and will hurt their stock big time.
It is strange them going from all in with D+ to now deciding to sell content.
clarker99
DIS Veteran
- Joined
- May 15, 2019
$DIS gave up $150m alone by pulling its shows from Netflix.
https://www.cnbc.com/2019/02/05/dis...n hit,stake in Hulu after its Fox deal closes.
https://www.cnbc.com/2019/02/05/dis...n hit,stake in Hulu after its Fox deal closes.
Agreed.
The only way this makes sense is if it's surgical - just selling the stuff that does not fit in with D+. I'm sure there's a lot of Fox content and some of the older skewing Disney stuff from their other studios like Touchstone Pictures, that would not be missed from D+. And they should have the data know to know if things like the Simpsons are actually bringing in subscribers - if it's not, I could see that cusing a nice bidding war between the streamers.
But, I think we all thought Hulu was for that stuff...so maybe they are thinking of offloading Hulu? I'm beginning to like this - sell Hulu and sell all the more adult content to the highest bidder. Keep all the core Dis, Marvel, Lucus, Pixar on D+. And get the 100 years of the library on there ASAP. D+ would be throwing off cash in no time.
I assumed they meant licensing.
Do you have a link to that discussion? Thanks!!
Jrb1979
DIS Veteran
- Joined
- Dec 2, 2018
IMO it's a big mistake. Content is king went it comes to streaming. This to me screams panic move. I'm betting that loses for D+ will be just as high if not higher since last quarter.
clarker99
DIS Veteran
- Joined
- May 15, 2019
$150m dollars a year is like getting over 13.5m subscribers to pay $11/mo for Dis+ add free tier. Seems easier to license than chase new subscribers for D+. At least in North America where growth will slow.
Yes, you may cannibalize a few potential D+ subs but you at least got paid something vs. zero.
They will not be dropping the entire MCU on Netflix or Paramount. Maybe 1 or 2 movies per quarter and you get money that you were never going to get. I need to hear the plan but I don't hate it. You give people a taste of your offerings and when the title disappears off Netflix in a couple months they may go and try to find it later.
wabbott
DIS Veteran
- Joined
- Aug 4, 2021
Does seem strange to release this on same day Disney Union members vote for More than a dollar .
guess we should worry more about Disney having enough to pay twobob
wabbott
DIS Veteran
- Joined
- Aug 4, 2021
https://us.cnn.com/2023/02/03/business/disney-world-union-vote/index.html
Disney World union members reject contract offer
By Chris Isidore and Vanessa Yurkevich, CNN
Updated 7:55 PM EST, Fri February 3, 2023
Unionized workers at Disney World have rejected a contract proposal from the company that would have given them at least a $1 an hour raise each year over the five-year life of the rejected offer.
The 32,000 Disney employees, members of six different unions, had been urged by their unions’ leadership to vote no. More than 14,000 votes were cast and 96% voted no.
“I think the workers at Disney World have sent a loud message that $1 is not enough. The company need to provide a meaningful wage increase that addresses the economic issues that workers are facing,” said Matt Hollis, president of the Service Trades Council Union, the collection of unions that are negotiating with Disney management.
Union negotiators are demanding an immediate $3 an hour raise, which would be about a 20% pay hike for the 75% of workers now earning $15 an hour. The union and rank-and-file members say workers wouldn’t be able to afford to live in central Florida under the company’s offer.
The company, which had described its rejected contract proposal as a “very strong offer,” said that 46% of cast members would have gotten more than a $1-an-hour raise in the contract’s first year, and that the majority of employees would have received raises totaling 33% to 46% during the life of the contract. Retroactive pay increases back the October 1 expiration of the previous contract would have resulted in lump sum payments of about $700 per employee.
“We are disappointed that those increases are now delayed,” said Andrea Finger, a spokesperson for Disney.
Hollis said that management has agreed to return to the negotiation table, though no date for talks has been set. Unions have represented workers at Disney World since soon after the park’s 1971 opening, but employees have never gone on strike, and the unions have yet to set a strike deadline or schedule a strike vote.
Those working under this contract, all of them full-time employees, represent more than 40% of all workers at Disney World. Currently, the park has 75,000 cast members, as the company refers to its employees, including full-time and part-time, hourly and salaried staff. It is comparable to Disney World’s pre-pandemic employment levels.
Negotiations on a new union contract had been ongoing since August.
The unions said those workers who would have gotten more than a $1 an hour pay increase under the offer are in jobs where Disney is having trouble filling openings and retaining workers. And they say with rising rents and other costs in the Orlando area, a $1 an hour increase isn’t sufficient.
Rent for a typical apartment in the Orlando area costs about $1,800 per month according to Realtor.com, the second-fastest pace of increase of any US market.
Disney reported that its parks, experiences and products unit, which includes Disney World and other park locations worldwide, had revenue of $7.4 billion and operating income of $1.5 billion in fiscal year 2022, which ran through October 1. The first six months of that fiscal year were affected by surging Covid cases.
Revenue was up 36% and profits more than doubled from the previous fiscal year. And both revenue and operating profits are above what the company posted in fiscal year 2019, before the pandemic, with a 12% rise in revenue and a 10% gain in earnings.
Disney is due to report financial results for the final three months of 2022 on Wednesday, with analysts surveyed by Refinitiv forecasting that revenue will be up 7% from a year earlier, but earnings will be down 27%.
Disney World union members reject contract offer
By Chris Isidore and Vanessa Yurkevich, CNN
Updated 7:55 PM EST, Fri February 3, 2023
Unionized workers at Disney World have rejected a contract proposal from the company that would have given them at least a $1 an hour raise each year over the five-year life of the rejected offer.
The 32,000 Disney employees, members of six different unions, had been urged by their unions’ leadership to vote no. More than 14,000 votes were cast and 96% voted no.
“I think the workers at Disney World have sent a loud message that $1 is not enough. The company need to provide a meaningful wage increase that addresses the economic issues that workers are facing,” said Matt Hollis, president of the Service Trades Council Union, the collection of unions that are negotiating with Disney management.
Union negotiators are demanding an immediate $3 an hour raise, which would be about a 20% pay hike for the 75% of workers now earning $15 an hour. The union and rank-and-file members say workers wouldn’t be able to afford to live in central Florida under the company’s offer.
The company, which had described its rejected contract proposal as a “very strong offer,” said that 46% of cast members would have gotten more than a $1-an-hour raise in the contract’s first year, and that the majority of employees would have received raises totaling 33% to 46% during the life of the contract. Retroactive pay increases back the October 1 expiration of the previous contract would have resulted in lump sum payments of about $700 per employee.
“We are disappointed that those increases are now delayed,” said Andrea Finger, a spokesperson for Disney.
Hollis said that management has agreed to return to the negotiation table, though no date for talks has been set. Unions have represented workers at Disney World since soon after the park’s 1971 opening, but employees have never gone on strike, and the unions have yet to set a strike deadline or schedule a strike vote.
Those working under this contract, all of them full-time employees, represent more than 40% of all workers at Disney World. Currently, the park has 75,000 cast members, as the company refers to its employees, including full-time and part-time, hourly and salaried staff. It is comparable to Disney World’s pre-pandemic employment levels.
Negotiations on a new union contract had been ongoing since August.
The unions said those workers who would have gotten more than a $1 an hour pay increase under the offer are in jobs where Disney is having trouble filling openings and retaining workers. And they say with rising rents and other costs in the Orlando area, a $1 an hour increase isn’t sufficient.
Rent for a typical apartment in the Orlando area costs about $1,800 per month according to Realtor.com, the second-fastest pace of increase of any US market.
Disney reported that its parks, experiences and products unit, which includes Disney World and other park locations worldwide, had revenue of $7.4 billion and operating income of $1.5 billion in fiscal year 2022, which ran through October 1. The first six months of that fiscal year were affected by surging Covid cases.
Revenue was up 36% and profits more than doubled from the previous fiscal year. And both revenue and operating profits are above what the company posted in fiscal year 2019, before the pandemic, with a 12% rise in revenue and a 10% gain in earnings.
Disney is due to report financial results for the final three months of 2022 on Wednesday, with analysts surveyed by Refinitiv forecasting that revenue will be up 7% from a year earlier, but earnings will be down 27%.
I’d be nervous about Hulu losing too much content…. However, I could see Hulu retaining some content and allowing other streamers to carry it as well. I’m also skeptical who they could sell a lot of the second tier content to - with Amazon, Netflix, Peacock, and Paramount+, and HBO/Discovery ALL talking about needing to lower content costs. I think Disney kind of needs Hulu…. Spinning off ESPN seems less disruptive to me, but what do I know. (I also think they should keep ESPN).
In my mind, this licensing idea would only make sense if they were to sell their stake in Hulu - bring in $20-30B, wipe out a bunch of debt and reinstate the dividend, and then license all content that does not fit in the family orientated D+, Marvel, or Lucus (and those fees help fund the ongoing D+ spend). That non-core content might not be worth much individually but there would be a lot of it from Fox and Disney studios. Other streamers are always looking for additional contant at a reasonable cost rather than the expense of making their own. Now, if they keep Hulu, everything should just be put on there, I don't see any sense in letting competitors have it.
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