DIS Shareholders and Stock Info ONLY

[Douglas Dubh]

Of course the longer it’s in theaters the smaller the cut the studio gets and the more the theaters get.

 

[mdmost]

I believe Elemental just opened in Japan so that could give it a nice bump at the tail end of its run.

 

[bryaalre]

I believe Elemental just opened in Japan so that could give it a nice bump at the tail end of its run.

That is correct. Things look promising that it can do well as it’s been too 3 most days since it’s opened and was second yesterday.

 

[HokieRaven5]

The Walt Disney Company Q3 2023 Earnings Report

Rev $22.3B, Operating income $3.559B

DMED : $14B rev 1.134B OI 8% profit

Linear: $6.69B rev $1.889 OI 28% profit
DTC: $5.525B rev -$512 loss
Content Sales: $2.082B -$243 loss

DPEP: $8.326B rev $2.425 OI 29% profit

Domestic : $5.649B rev $1.436 OI 25% profit
International: $1.532B rev $428M Oi 28% profit
Consumer Products: $1.145B rev $561M OI 48.9% profit

 

[wabbott]

Disney’s Q3 rev $22.3 billion vs. expectations $22.5 billion

Aug. 9, 2023 at 4:09 p.m. ET by Claudia Assis

Disney’s adj. EPS $1.03 vs. expectations 96 cents a share
Aug. 9, 2023 at 4:08 p.m. ET by Claudia Assis

 

[wabbott]

HE WALT DISNEY COMPANY REPORTS
THIRD QUARTER AND NINE MONTHS EARNINGS FOR FISCAL 2023
BURBANK, Calif. – The Walt Disney Company today reported earnings for its third quarter and nine
months ended July 1, 2023.
• Revenues for the quarter and nine months grew 4% and 8%, respectively.
• Diluted earnings per share (EPS) from continuing operations for the quarter was a loss of $0.25
compared to income of $0.77 in the prior-year quarter.
• Excluding certain items(1), diluted EPS for the quarter was $1.03, down from $1.09 in the prior-
year quarter.
• EPS from continuing operations for the nine months ended July 1, 2023 decreased to $1.14 from
$1.66 in the prior-year period.
• Excluding certain items(1), diluted EPS for the nine months ended July 1, 2023 decreased to $2.94
from $3.22 in the prior-year period.
“Our results this quarter are reflective of what we’ve accomplished through the unprecedented
transformation we’re undertaking at Disney to restructure the company, improve efficiencies, and restore
creativity to the center of our business,” said Robert A. Iger, Chief Executive Officer, The Walt Disney
Company. “In the eight months since my return, these important changes are creating a more cost-
effective, coordinated, and streamlined approach to our operations that has put us on track to exceed our
initial goal of $5.5 billion in savings as well as improved our direct-to-consumer operating income by
roughly $1 billion in just three quarters. While there is still more to do, I’m incredibly confident in
Disney’s long-term trajectory because of the work we’ve done, the team we now have in place, and
because of Disney’s core foundation of creative excellence and popular brands and franchises.”

 

[wabbott]

85.83 -1.68 (-1.93%)
After hours: -

 

[wabbott]

The decrease in operating income at our domestic operations was due to lower results at our domestic
parks and Disney Vacation Club, driven by lower unit sales, partially offset by an increase at Disney
Cruise Line.

Lower operating income at our domestic parks and resorts was attributable to a decrease at Walt
Disney World Resort, while results at Disneyland Resort were up modestly compared to the prior-year
quarter. The decrease at Walt Disney World Resort was primarily due to higher costs and lower volumes.
The increase in costs was attributable to inflation and accelerated depreciation related to the planned
closure of Star Wars: Galactic Starcruiser. Lower volumes were due to decreases in occupied room nights
and attendance. At Disneyland Resort, higher attendance and increased guest spending were largely offset
by higher costs driven by inflation. Guest spending growth was primarily due to an increase in average
ticket prices.

 

[HokieRaven5]

Disney+ Hotstar losing 12.5M subs ($0.59 per month per sub vs same prior quarter)

Disney+ Core gained 800K subs ($6.58 per sub vs $6.47 prior quarter)

Domestic lost 300K ($7.31 vs $7.14)
International gained 1.1M ($6.01 vs $5.93)

ESPN+ losing 100K subs ($5.45 per sub vs $5.64)

Hulu SVOD gained 300K subs ($12.39 vs $11.73)

Hulu + Live TV lost 100K subs ($91.8 vs $92.32)

 

[wabbott]

Domestic Channels
Domestic Channels revenues for the quarter decreased 4% to $5.5 billion, and operating income
decreased 14% to $1.8 billion. The decrease in operating income was due to lower results at both
Broadcasting and Cable.
The decrease at Broadcasting was due to lower results at ABC and the owned television stations, both
of which reflected lower advertising revenue. To a lesser extent, the decrease at ABC also reflected higher
marketing costs. The decrease in advertising revenue at ABC was attributable to lower average
viewership, while the decrease at the owned television stations was due to lower rates.
Lower operating income at Cable was due to higher sports programming and production costs and
lower affiliate revenue, partially offset by a modest increase in advertising revenue. Higher sports
programming and production costs reflected contractual rate increases for NBA programming and new
motor sports programming. Lower affiliate revenue resulted from a decline in subscribers, partially offset
by higher contractual rates. The increase in advertising revenue reflected higher impressions and rates at
ESPN, largely offset by lower impressions at our non-sports channels.

 

[wabbott]

Direct-to-Consumer revenues for the quarter increased 9% to $5.5 billion and operating loss
decreased to $0.5 billion from a loss of $1.1 billion. The decrease in operating loss was due to a lower loss
at Disney+, higher operating income at Hulu and a lower loss at ESPN+.

The improvement at Disney+ was due to higher subscription revenue and a decrease in marketing
costs, partially offset by higher programming and production costs and lower advertising revenue. Higher
subscription revenue was attributable to Disney+ Core subscriber growth and increases in Disney+ Core
retail pricing. The increase in programming and production costs was due to higher costs for non-sports
content, partially offset by a decrease in sports programming costs. The decreases in sports programming
costs and advertising revenue reflected the comparison to IPL cricket programming in the prior-year
quarter, as we did not renew the digital rights beginning with the 2023 season. Higher costs for non-sports
content were due to more content provided on the service.

At Hulu, higher operating income included the benefit of subscription revenue growth and lower
marketing costs, partially offset by higher programming and production costs and lower advertising
revenue. Subscription revenue growth was due to increases in retail pricing and subscribers. The increase
in programming and production costs was attributable to more content provided on the service and an
increase in subscriber-based fees for programming the Live TV service, partially offset by a lower average
cost mix of SVOD content. Higher subscriber-based fees for programming the Live TV service were due
to more subscribers and rate increases. The decrease in advertising revenue was due to fewer impressions.
Improved results at ESPN+ were attributable to growth in subscription revenue due to increases in
retail pricing and subscribers.

 

[wabbott]

86.52 -1.00 (-1.14%)
After hours: -

 

[HokieRaven5]

So by sector profitability %

Consumer Products 48%
International Parks 29%
Linear Markets 28%
Domestic Parks 25%
DTC and Content sales - Losses

 

[wabbott]

It appears the rumors of softness @ WDW look to be accurate.

 

[HokieRaven5]

Parks money continuing to be invested in what they view as the current growth sectors it seems for the time being: International Parks, Cruise Line

 

[wabbott]

Adding a couple of new ships.

 

[HokieRaven5]

Q4 Disney Cruise bookings are at 98% according to the earnings call

 

[HokieRaven5]

Iger says 40% of new Disney+ subscribers are choosing an ad-supported subscription offering. In Q3, Disney+ "signed up 3.3 million subscribers" to ad-supported Disney+ option. Pricing for standalone ad-supported Disney+ and Hulu will remain unchanged for now.

 

[Wakey]

Domestic parks are in decline, mainly due to numbers dropping at WDW.
The only reason operating income was up is international, mainly Shanghai which was closed part of last year and now open.
It is extremely worrying given the projections for current and future tourism spending (up) that WDW is losing a lot of custom.
They must reintroduce value immediately and probably scrap the hated Genie+

 

[HokieRaven5]

Domestic parks are in decline, mainly due to numbers dropping at WDW.
The only reason operating income was up is international, mainly Shanghai which was closed part of last year and now open.
It is extremely worrying given the projections for current and future tourism spending (up) that WDW is losing a lot of custom.
The must reintroduce value immediately and probably scrap the hated Genie+

The drops in domestic attendance aren’t exclusive to Disney. Universal Orlando had dips, Sea World was down, Cedar Fair was down.