DIS Shareholders and Stock Info ONLY

[RivShore]

All right, who paid $110 after hours today?

 

[wabbott]

All right, who paid $110 after hours today?

View attachment 883413

Sid Bass?

https://archive.vanityfair.com/article/2002/3/betting-the-kingdom

 

[wabbott]

https://www.hollywoodreporter.com/b...e-flat-profit-slips-2024-election-1235966889/

Fox Ad Revenue Flat at $1B, as Profit Slips to $320M

The company said that revenue rose slightly in the quarter thanks to its carriage agreements, but that the election and Super Bowl are setting it up for a big year.

by Alex Weprin - August 6, 2024 - 4:50am PDT

 

[maui22]

https://www.cnbc.com/2024/08/06/disney-raises-streaming-prices.html

Disney raises streaming prices for Disney+, Hulu and ESPN+​

Key Points

• Starting mid-October, most plans for Disney+, Hulu and ESPN+ will cost $1 to $2 more per month.
• The price hikes come as Disney continues to push its customers toward bundles to get a bigger bang for their buck.

by Justine Fisher - August 6, 2024 - 1:00 EDT

 

[wabbott]

https://deadline.com/2024/08/disney-fox-fubo-warner-bros-discovery-antitrust-lawsuit-1236032379/

Disney, Fox & Fubo Lawyers Clash In NY Court As Venu Sports Antitrust Lawsuit Goes Before Judge

By Dade Hayes - Business Editor @dadehayes August 6, 2024 - 11:02am PDT

 

[RivShore]

https://deadline.com/2024/08/disney-fox-fubo-warner-bros-discovery-antitrust-lawsuit-1236032379/

Disney, Fox & Fubo Lawyers Clash In NY Court As Venu Sports Antitrust Lawsuit Goes Before Judge

By Dade Hayes - Business Editor @dadehayes August 6, 2024 - 11:02am PDT

What a mess...just another consequence of an industry in major upheaval and reinvention.

And in related news, WBD is down to $7.57. Down on an up day for almost everyone else. Zero here we come!

 

[Cfabar1]

https://www.cnbc.com/2024/08/06/disney-raises-streaming-prices.html

Disney raises streaming prices for Disney+, Hulu and ESPN+​

Key Points

• Starting mid-October, most plans for Disney+, Hulu and ESPN+ will cost $1 to $2 more per month.
• The price hikes come as Disney continues to push its customers toward bundles to get a bigger bang for their buck.

by Justine Fisher - August 6, 2024 - 1:00 EDT

These prices are starting to get crazy if people are actually paying full fare and if they're subscribing to multiple streamers....

The idea of somehow "bundling" ABCNews Live which is a free-service as a way to justify the price increase is laughable, and frankly insulting to the consumer.

I am genuinely curious how much of this is just trying to convert the Amex customers into having to pay "something" for example...

 

[RivShore]

These prices are starting to get crazy if people are actually paying full fare and if they're subscribing to multiple streamers....

The idea of somehow "bundling" ABCNews Live which is a free-service as a way to justify the price increase is laughable, and frankly insulting to the consumer.

I am genuinely curious how much of this is just trying to convert the Amex customers into having to pay "something" for example...

I said a while ago that at some point, the old cable bundle price is going to look a great value compared to all the streamers we are paying for. That must be legacy media's evil plan, drive us all back to the more lucrative linear cable bundle. I think I'm ok with that, as a consumer and a shareholder.

 

[HokieRaven5]

Walt Disney Company Q3 2024 Earnings Report

BURBANK, Calif. - The Walt Disney Company today reported earnings for its third quarter ended June 29, 2024.
Financial Results for the Quarter:
• •
• •
Revenues for the quarter increased to $23.2 billion from $22.3 billion in the prior-year quarter.
Income (loss) before income taxes improved to income of $3.1 billion in the current quarter from a loss of $0.1 billion in the prior-year quarter.
Diluted earnings per share (EPS) was $1.43 for the current quarter compared to a loss of $0.25 in the prior-year quarter.
Excluding certain items'*), diluted EPS for the quarter increased to $1.39 from $1.03 ni the prior-year quarter.
Key Points:
• • •
•
• •

• In the third fiscal quarter of 2024, we achieved strong double-digit percentage growth of 19% for total segment operating income'" and 35% for adjusted EPS'*

• Entertainment segment operating income nearly tripled year over year in Q3, due to significantly improved results at Direct-to-Consumer and Content Sales/Licensing and Other.

• Entertainment Direct-to-Consumer's better-than-expected Q3 performance, combined with our profitable results at ESPN+, resulted in positive profitability at our combined streaming businesses) for the first time and one quarter ahead of our previous guidance of achieving profitability in Q4.

• The success of Inside Out 2, which became the highest-grossing animated film of all time, demonstrated the renewed creative strength of our studios and drove strong outperformance at Content Sales/Licensing and Other. Surrounding Inside Out 2's release, the original Inside Out (2015) helped drive more than 1.3 million Disney+ sign-ups and generated over 100 million views globally since the first Inside Out 2 teaser trailer dropped.

• ESPN operating income grew by 4%, while Star India results were lower versus the prior year, resulting in Sports segment operating income declining by 6% in Q3. Domestic ESPN advertising revenue increased 17% year over year.

• Q3 Experiences revenue increased by 2% and segment operating income decreased by 3%. Segment revenue growth was impacted by moderation of consumer demand towards the end of Q3 that exceeded our previous expectations. Despite this demand dynamic, other parts of the portfolio delivered improved results versus the prior year, including Disney Cruise Line, Consumer Products and some of our international sites. While results at Domestic Parks decreased modestly in the quarter, attendance was comparable year over year and per capita spending was slightly up.

 

[wabbott]

https://finance.yahoo.com/news/disn...ofit-while-parks-business-lags-183949751.html

Disney earnings: Streaming unit turns first profit while parks business lags

Alexandra Canal · Senior Reporter
Wed, Aug 7, 2024, 5:53 AM CDT

 

[wabbott]

https://finance.yahoo.com/quote/DIS/

The Walt Disney Company (DIS)

89.97 +2.19 (+2.49%)
At close: August 6 at 4:02 PM EDT

88.10 -1.87 (-2.08%)
Pre-Market: 7:05 AM EDT

 

[HokieRaven5]

Disney Q3 2024 SEC Filing

 

[HokieRaven5]

For the Domestic parks sector:

No change reported in domestic attendance for Q3 FY24 vs Q3 FY23

1% increase in guest spending

83% occupancy of domestic hotels with 2,543,000 available cash booking nights for the quarter. (84% in Q3 FY23)

4% increase in guest room spending

 

[wabbott]

https://www.nytimes.com/2024/08/07/business/media/disney-earnings-parks.html

Disney’s Parks Struggle, Exposing a New Trouble Spot
Companywide profit increased, the result of hit movies and streaming growth. But Disney said softening theme park demand “could impact the next few quarters.”

By Brooks Barnes
Reporting from Los Angeles
Aug. 7, 2024, 7:00 a.m. ET

In Disney’s seemingly never-ending game of corporate Whac-a-Mole, a new trouble spot has arisen: Americans — battered by years of high inflation — have less money to spend on amusement, imperiling growth at Disney theme parks.

On Wednesday, Disney reported weaker-than-expected theme park results for the three months that ended on June 29. Revenue increased 2 percent from a year earlier, to $8.4 billion, while operating profit declined 3 percent, to $2.2 billion. Disney blamed a “moderation of consumer demand” that “exceeded our previous expectations,” along with higher costs. Disney said softening demand “could impact the next few quarters.”

Disney added that it was “aggressively managing our cost base.”

Theme parks have taken on much greater financial importance at Disney over the past decade. They have been the A.T.M.s that have paid for Disney’s costly expansion into streaming and picked up the slack for the company’s atrophying cable television business. Last year, Disney Experiences, a division that includes theme parks and cruise ships, contributed 70 percent of the Walt Disney Company’s operating profit, up from about 30 percent a decade ago.

Robert A. Iger, Disney’s chief executive, has called theme parks and cruise ships “a key growth engine” for the company. Last year, Disney said it would spend roughly $60 billion over the next decade to expand its parks and to continue building Disney Cruise Line, double the amount of the previous decade. Josh D’Amaro, chairman of Disney Experiences, is expected to unveil an array of specific expansion projects on Saturday at a fan convention in Anaheim, Calif.

But there are reasons to worry that the U.S. economy could be headed toward a recession. In addition, the global postpandemic surge in travel is largely over. Citing a “normalization” of demand, Comcast said last month that quarterly revenue at its Universal theme parks had fallen 11 percent, while pretax earnings plunged 24 percent.

Mr. Iger has been trying to move Disney beyond a tumultuous period when activist investors sought to alter the company’s direction. One activist, Nelson Peltz, mounted a proxy contest for board seats this year and harshly criticized Disney’s streaming strategy, succession planning and lagging stock price. Disney fended off the attacks, but its share price has fallen 27 percent since early April.

“If Disney doesn’t manage to reverse this negative trend, the specter of an activist rebellion will rear its head again,” Paul Verna, a media analyst at Emarketer, a research firm, said in an email last week.

 

[wabbott]

https://www.msn.com/en-us/money/com...-pressure-on-theme-parks-business/ar-AA1onXVv

Disney Posts First-Ever Streaming Profit, Warns of Pressure on Theme-Parks Business

‘Inside Out 2’ box-office success helps movie studio turn around its fortunes

By Robbie Whelan
Aug. 7, 2024 - 6:51 am EDT

Disney’s streaming and movie businesses shifted into high gear last quarter, picking up the slack from the theme-parks unit, which has begun to show signs of strain.

The entertainment giant’s streaming unit, which includes flagship platform Disney+, general entertainment service Hulu and the sports-focused ESPN+, became profitable one quarter ahead of schedule, producing operating income of $47 million on $6.38 billion in revenue, Disney said Wednesday.

Overall, Disney swung to a profit of $2.62 billion for the quarter from a loss of $460 million a year earlier, when the company took substantial restructuring and impairment charges. Revenue rose 3.7% to $23.16 billion. Both results exceeded Wall Street expectations: Analysts polled by FactSet had anticipated net income of $1.94 billion and revenue of $23.08 billion.

Disney raised its forecast for full-year growth in adjusted earnings per share to 30% from 25% and said it expects both streaming profitability and the company’s number of core Disney+ subscribers to grow in the fourth quarter.

While Disney’s quarterly streaming profit was small, the shift in that unit’s fortunes is symbolically important. Since the launch of Disney+ in November 2019, Disney has lost more than $11 billion to the streaming wars, as competition from rivals and rising content costs forced the company to spend more to produce and license TV shows, sporting events and movies than it was generating in subscription fees, quarter after quarter.

The company raised the price of its streaming offerings several times over the past couple of years, which it said helped boost subscription revenue growth. On Tuesday, Disney announced a new round of price increases for nearly all of its streaming plans, effective in October.

More eye-catching was the overall performance of Disney’s Entertainment unit, which also includes its movie studios and legacy television business.

The division that includes theatrical film releases reported income of $254 million, up from a loss of $112 million a year earlier and its first profit since early 2022.

Disney said the result was driven in large part by the strong box office performance of “Inside Out 2,” the coming-of-age animated feature produced by Disney-owned Pixar. The film opened in early June, just weeks before the fiscal quarter ended, and has since sold nearly $1.6 billion in tickets at the global box office, becoming the highest-grossing animated film of all time. The runner-up is another Disney title, 2019’s “Frozen II.”

Disney said that it expects the theatrical film division to produce a similarly sized profit next quarter, when investors will see the impact of “Deadpool & Wolverine,” from Disney-owned Marvel Studios. The film generated the highest-ever box office gross for an R-rated movie when it opened last month and has so far earned $824 million in global ticket sales.

Last year, Chief Executive Bob Iger, who returned from retirement in November 2022, said Disney’s movie studios had hit a rut and that its “performance from a quality perspective wasn’t really up to the standards that we set for ourselves.” He vowed to make fewer movies and focus more on quality.

Strong results from the entertainment unit made up for softness in the Experiences division, Iger said. “With our complementary and balanced portfolio of businesses, we are confident in our ability to continue driving earnings growth,” he said Wednesday in a statement.

The Experiences unit, which includes Disney’s six global theme-park resorts, a cruise line, consumer products sales, videogame licensing, and other businesses, saw revenue increase slightly to $8.39 billion. But operating income fell 3.3% to $2.22 billion despite steady park attendance numbers and per-visitor spending, largely because of increased costs and soft consumer demand toward the end of the quarter, the company said. Analysts polled by FactSet had expected the division to produce $2.3 billion in operating income.

Disney forecast more challenges for the theme parks business. The company said it expects operating income in the division to fall by mid-single-digit percentage points in the fiscal fourth quarter, because of continued softening of demand at its U.S. theme parks, competition for tourist dollars at Disneyland Paris from the Summer Olympics, currently being held in the French capital, and softening of demand in China.

In recent years, the theme parks business has emerged as the company’s most reliable generator of profit while other legacy businesses have declined, especially cable TV. Revenue from the division that includes theme parks has represented 30% to 40% of Disney’s overall sales for most of the past decade, but the division’s share of operating income has grown steadily, to 69% in fiscal 2023 from 39% in 2018.

This year, it became clear that the parks business was hitting some turbulence when Disney unexpectedly reported that operating income in the segment would likely be flat for the June quarter. The company said it was seeing “some normalization of post-Covid demand.”

Disney rival Comcast, which owns and operates the Universal Studios chain of parks, reported weak results in late July, mostly because of lower attendance at Universal’s domestic parks. The company said it expects lower attendance to continue into next year.

“Those Comcast numbers were scary,” said Doug Creutz, an analyst with TD Cowen. “Obviously, there’s been a slowdown in demand. Going to the parks is an expensive trip, so you’ve got to feel at least somewhat comfortable with your economic situation.”

Write to Robbie Whelan at robbie.whelan@wsj.com

 

[RivShore]

https://www.cnbc.com/video/2024/08/...arnings-very-optimistic-about-the-future.html

Disney CFO Hugh Johnston on Q3 earnings: Very optimistic about the future​

 

[RivShore]

After pretty bad Airbnb earnings and their discussion about slower/later bookings, very pleased to see the parks and occupancy holding up well.

 

[HokieRaven5]

Since it’s mentioned frequently here, Advertising revenue and % of total revenue by sector for the quarter:

Linear Networks - $907M, 34%

Direct to Consumer - $1,004M, 17%

Sports - $1,339M, 29%

For the last 9 Months:

Linear Networks - $2,875M, 35%

Direct to Consumer - $2,740M, 16%

Sports - $3,640M, 27%

 

[clarker99]

Overall company OI hit $14.9b on a rolling 4 quarter basis. We are fully back to 2019 profits. Q3 EPS of 1.43 is best since 2019.

 

[RivShore]

​

Disney Says It May Have to Pay Additional $5 Billion for Hulu​

10:43 AM ET, 08/07/2024 - MT Newswires

10:43 AM EDT, 08/07/2024 (MT Newswires) -- Walt Disney (DIS) said Wednesday it may have to pay an additional $5 billion to
Comcast's (CMCSK) NBC Universal unit for its 33% stake in Hulu.
An arbitration process that began in May will determine how much, if any, additional money Disney must pay NBC Universal for its share of the streaming service, Disney said in its quarterly earnings report.
According to the entertainment giant, Disney said its appraiser during the initial arbitration phase valued Hulu at at least $27.5 billion, while NBC's appraiser arrived at a valuation "substantially in excess" of its estimate.
Once arbitration is complete, the final equity fair value will account for the valuation of a third appraiser, Disney said.
If the that appraiser's valuation is equal to Disney's valuation, it wouldn't be required to pay NBC Universal any more money. If the appraiser's determination is consistent with the NBC Universal's valuation, Disney could be required to pay an additional $5 billion. If the appraiser's equity fair value determination falls between those of Disney's and NBC Universal's, Disney would pay between nothing and $5 billion, according to Disney.
Comcast and NBC Universal did not immediately respond to MT Newswires requests for comment.
Meanwhile, Disney disclosed it acquired an incremental 5% interest in Epic Games in April for $1 billion before acquiring an additional 2% stake in the videogame maker in July for $500 million, bringing Disney's total interest in the company to about 8%.