Tower event disney magic kingdoms3/9/2024 ![]() Revenues for linear networks decreased 7% to $6.7 billion, and operating income decreased 23% to $1.9 billion.ĥ. Today's earnings report were partly affirmation of that. Cord-cutting impact is "unmistakable": Iger rattled nerves recently when he suggested that Disney's linear networks, including ABC, FX and National Geographic, might not be essential to its "core" business (implying he may someday jettison them). Iger said the last time they raised prices, they didn't see "significant churn or loss of subs which was heartening."Ĥ. Disney has increased the price of a Disney+ subscription before and it plans to do so again. Driving revenue wasn't necessarily subscription growth but rather increased prices. Streaming: revenues for Disney's direct-to-consumer offerings like Disney+, ESPN+ and Hulu, increased 9% to $5.5 billion. Iger said "booked occupancy" for upcoming Disney cruises is at 98%.ģ. Attendance at Walt Disney World in Florida was down but that was offset by increased attendance at its theme parks in Shanghai and Hong Kong. Parks/resorts/cruises: Overall revenues for Disney's theme parks and cruises increased 13% to $8.3 billion. Disney has always known how to exploit its robust intellectual property with TV spinoffs, character-driven merchandise, movie-themed rides in its parks and the like.Ģ. Iger said the performance of its recent releases were "disappointing and we don't take that lightly." Still, he points to Disney's "tremendous run over the last decade" with such blockbusters as Avatar and Frozen. Movies: Disney did not have the hits this summer. ![]() ![]() Here are six takeaways from today's earnings call.ġ. He identified three areas that he believes will drive future growth: movies, parks/cruises, streaming/direct-to-consumer. ![]() In today's quarterly earnings report, CEO Bob Iger said he was still optimistic about the company's future. Overall revenue grew 4% but, like most media corporations, The Walt Disney Company is navigating the ebbs and flows of consumer behavior, cord-cutting and a sluggish ad market, among other issues. It's not all magic in the kingdom of Disney. ![]()
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