The Walt Disney Company (DIS) - NYSE
  • Tue, May 10, 5:43 PM
    • Last summer, with trouble brewing at ESPN, Walt Disney (NYSE:DIS) CEO Bob Iger took the subject head-on at the very beginning of the company's earnings call. This afternoon, it's all about the wild success in Filmed Entertainment and upcoming Shanghai park launch that led off a relatively brief set of prepared remarks, rather than the sports network or who takes over for its departed COO (and what that means for Iger's departure).
    • With the call still under way, shares are now down 5.3% in after-hours trade following the earnings miss.
    • Disney became the fastest ever to $1B at the domestic box office -- hitting it last weekend in just 128 days, beating last year's record (Universal, in 165 days), with the help of the all-time fifth-best opening, by Captain America: Civil War.
    • But at ESPN, ad revenue fell 13%. Iger declined to give numbers on over-the-top deals when it comes to Sling TV and Sony, but "we anecdotally were told that after ESPN was included in their package, they saw a very encouraging trend in sign-ups." He added that he doesn't believe getting into Hulu distribution will affect current distribution relationships.
    • As for the surprising exit of Iger's heir apparent, COO Thomas Staggs, Iger says "we're sorry what came to pass," but "I will remind people that I have just over two years left" as CEO, the board is very actively engaged in succession planning, and "I don't currently have any plans to extend beyond the June [2018] expiration date."
    | Tue, May 10, 5:43 PM | 13 Comments
  • Tue, May 10, 5:37 PM
    | Tue, May 10, 5:37 PM
  • Tue, May 10, 5:08 PM
    • Walt Disney (NYSE:DIS) is now down 6.6% after hours as its earnings call gets under way. Along with its earnings miss, the company is shuttering its videogame publishing unit.
    • Disney is taking a $147M charge against earnings to put an end to its Infinity-branded "toys-to-life" console business.
    • Revenues in Consumer Products and Interactive Media, a division which the company merged last year, had fallen 2% this quarter to $1.19B.
    • The company launched Infinity in summer 2013, following on success by Activision Blizzard and its Skylanders toys-to-life products, and promised to fill it with buyable characters from Disney animation, Star Wars and Marvel properties.
    • Updated: Disney says it will still release Infinity playsets/characters for Alice Through the Looking Glass and Finding Dory later this month and in June.
    | Tue, May 10, 5:08 PM | 16 Comments
  • Tue, May 10, 4:26 PM
    • Walt Disney (NYSE:DIS) is sliding after hours, now down 6.3%, following its first miss on earnings in more than two years.
    • The company fell short of expectations on revenues as well as profits, which grew just $35M to $2.1B total, as the film division is going gangbusters but its biggest business (Networks) was flat in revenue thanks to cable declines, and consumer products sales fell.
    • Revenues by segment: Media Networks, $5.79B (down fractionally); Parks and Resorts, $3.93B (up 4%); Studio Entertainment, $2.06B (up 22%); Consumer Products and Interactive Media, $1.19B (down 2%).
    • Operating income grew in all segments except Consumer Products and Interactive Media, where it dropped 8% to $357M. Operating income grew 9% in Media Networks, to $2.3B.
    • Conference call to come at 5 p.m. ET.
    • Press Release
    | Tue, May 10, 4:26 PM | 104 Comments
  • Tue, May 10, 4:18 PM
    • Walt Disney  (NYSE:DIS): FQ2 EPS of $1.36 misses by $0.04.
    • Revenue of $12.97B (+4.1% Y/Y) misses by $220M.
    • Shares -6%.
    • Press Release
    | Tue, May 10, 4:18 PM | 53 Comments
  • Tue, May 10, 11:42 AM
    • A 2015 breach of contract suit filed by ESPN (DIS +0.7%) against Verizon (VZ +0.9%) has been settled after a few months of negotiations.
    • Terms of the settlement are confidential. The companies issued a terse statement looking forward to continuing to work together.
    • ESPN sued in April 2015 after Verizon introduced a new "skinny" FiOS plan that gave its customers the chance to picks a small set of customized channels, but pushed ESPN into a separately purchased tier.
    • Meanwhile, yet another Disney earnings report (set for after the bell today) will have investor eyes on ESPN performance, the stock's primary headwind since a disappointment last summer in subscribers and corresponding affiliate fees.
    • Now read Hedging Disney Ahead Of Earnings »
    | Tue, May 10, 11:42 AM | 6 Comments
  • Mon, May 9, 5:35 PM
  • Mon, May 9, 3:45 PM
    • Captain America: Civil War met some already strong expectations in its U.S. debut, providing some good news for Disney (NYSE:DIS) ahead of its earnings tomorrow.
    • The superhero sequel (actually the first film of "Phase 3" in what has been a 20-film plan for the Marvel Cinematic Universe) opened with $181.8M, the fifth-biggest domestic opening ever, soaking up almost all the domestic box office dollars -- and Disney got much of the rest, as the No. 2 film was The Jungle Book, with $21.9M.
    • Those two finished ahead of Open Road's Mother's Day ($9M), The Huntsman: Winter's War (CMCSA, $3.6M) and Keanu (TWX, $3.1M).
    • Civil War had opened overseas before its U.S. launch, and so with its additional weekend added in to the strong domestic opening, the film has already made $675.8M worldwide.
    • It helped Disney become the fastest studio ever to cross the $1B box-office mark on the calendar. Whereas 2015 was Universal's year to lose by this point, 2016 is turning out to be the Year of the Mouse so far.
    • Now read Disney Vs. DreamWorks Showdown »
    | Mon, May 9, 3:45 PM | 36 Comments
  • Wed, May 4, 11:27 AM
    • In its Newfronts presentation, Hulu confirmed its intentions to start streaming live feeds of broadcast and cable networks by early next year, a departure from its on-demand present.
    • CEO Mike Hopkins says the plan is to create a "deeply personalized experience" that merges linear TV and on-demand video. “This means our viewers will be able to enjoy live sports, news and events…in real time without a traditional cable or satellite subscription."
    • That also means more investment in original programming, a hot market where it's competing with and Netflix, not to mention a large variety of broadcast and cable channels for viewer attention.
    • Hulu -- co-owned by Disney (DIS +0.2%), Comcast (CMCSA +0.4%) and Fox (FOX +0.7%, FOXA +0.7%) -- said it will hit 12M subscribers by the end of the month (vs. Netflix's March total of 47M) after growing its U.S. base 33% over the past year.
    • Now read Disney: Who Says This Old Mouse Can't Learn New Tricks »
    | Wed, May 4, 11:27 AM | 13 Comments
  • Tue, May 3, 12:27 PM
    • Vice Media and ESPN are forging a deeper relationship, sharing content and teaming up to make sports programming as both chase elusive youth audiences.
    • In program swapping, ESPN's short documentary series 30 for 30 will re-air on Viceland, Vice Media's new 24-hour TV channel, while edited versions of Vice World of Sports will appear on ESPN platforms, including digital channels.
    • The two will work together on short-form series -- likely personality-focused and in keeping with Vice's "outside the mainstream" branding -- as well as a short animated series.
    • ESPN parent Disney (DIS -0.8%) has become the largest outside stakeholder in Vice after investing about $400M last fall to add an additional 9% stake onto its investment through A&E Networks (jointly owned by Disney, helping run Viceland, and holding its own 15% Vice stake).
    • Now read Disney: Who Says This Old Mouse Can't Learn New Tricks »
    | Tue, May 3, 12:27 PM | 2 Comments
  • Mon, May 2, 2:45 PM
    • Everything's coming up Disney (DIS +1.1%) at the spring box office: The Jungle Book continues to be the juggernaut at home, while Captain America: Civil War started a Marvel-ous rumbling overseas.
    • The Jungle Book lost just 31% from last week to draw $42.4M and bring its three-week cumulative domestic total to $252.1M. It's also made another $434.8M overseas to hit a total of just under $687M.
    • That was more than enough to top its closest challenger, Key and Peele newcomer Keanu (TWX +0.3%), which grossed $9.5M in 2,658 theaters. Another debut, Open Road's seasonal fare Mother's Day, took $8.3M to slot in fourth behind The Huntsman: Winter's War (CMCSA +1%), falling 52% in its second week to take $9.4M.
    • A weak opening came for videogame-focused Ratchet & Clank (NASDAQ:CMCSA), which drew just $4.8M in its first week.
    • Meanwhile, Avengers-focused Captain America: Civil War is setting up for a huge U.S. opening this coming weekend (May 6) after grossing about $200M in global openings, the 14th-best foreign debut ever. Last year, Avengers: Age of Ultron opened to $201M overseas, en route to an eventual worldwide total of $1.41B.
    • Now read On Disney And Cost Efficiency: Maybe Robert Downey Jr. Should No Longer Portray 'Iron Man' »
    | Mon, May 2, 2:45 PM | 10 Comments
  • Mon, May 2, 4:49 AM
    • Hulu is developing a subscription service that would stream feeds of popular broadcast and cable TV channels, WSJ reports, in a move that would make the company a competitor to traditional pay-TV providers and other new digital entrants.
    • Until now, Hulu has offered on-demand programming from major networks, similar to Netflix.
    • The company, co-owned by Disney (NYSE:DIS), Comcast (NASDAQ:CMCSA) and Fox (FOX, FOXA) hopes to launch the new online service in the first quarter of 2017.
    | Mon, May 2, 4:49 AM | 16 Comments
  • Tue, Apr. 26, 8:32 PM
    • On a week where HBO (TWX +0.9%) had the attention for its spring premiere night, CBS (CBS +0.3%) quietly(?) won another easy victory in prime-time ratings.
    • The Tiffany network averaged 7.8M viewers, ahead of NBC's (CMCSA +0.1%) 5.3M and ABC's (DIS +0.2%) 4.7M. Fox (FOX -0.2%, FOXA -0.3%) posted 3M to best Univision at 2M.
    • CBS took six of the top 10 shows this week as well, with NCIS leading with 14.8M viewers, followed by its The Big Bang Theory (14.16M) and NCIS: New Orleans ($12.22M).
    • ABC jumped into fourth with Dancing With the Stars (10.97M viewers), while NBC was strong with a couple of editions of The Voice at fifth and seventh (10.07M, 9.79M viewers respectively).
    • Meanwhile, NBA playoffs pushed TNT (NYSE:TWX) to lead cable nets with 2.74M viewers on average, ahead of Fox News Channel's 1.96M.
    • Now read Seeking Alpha's Market Challenge: Scrutinizing Traditional Media »
    | Tue, Apr. 26, 8:32 PM | 3 Comments
  • Mon, Apr. 25, 7:45 PM
    • Disney (DIS +0.8%) has teamed up with Nokia (NOK -2.6%) to set its course for virtual reality.
    • The entertainment giant has a multi-year deal to use Nokia's OZO 360-degree cameras for varying vectors from its films to its marketing materials, and it even used them to make VR extras for The Jungle Book.
    • The cameras can help fill a well of content that could be used to keep Facebook's Oculus Rift and the HTC Vive humming. Nokia introduced the $60,000 OZO in November, though rivals that could include GoPro, Lytro and Jaunt may be following up soon with competing models.
    • Now read Nokia: It's A Yield Play »
    | Mon, Apr. 25, 7:45 PM | 18 Comments
  • Mon, Apr. 25, 12:32 PM
    • The Jungle Book (DIS +0.6%) led the box office again with a strong follow-up week that easily crushed a new fantasy challenger from Universal (CMCSA -0.8%).
    • Disney's remade Rudyard Kipling story fell off just 41% to draw $60.8M in its second weekend, more than enough to outpace Universal's The Huntsman: Winter's War, which debuted with a disappointing $20.1M, and Barbershop: The Next Cut (TWX -0.8%), which gave up half its first-week gross to settle in with $10.6M.
    • Disney also scored the best holdover among playing movies, as Zootopia finished fourth-best despite being eight weeks old. The hit film took in $6.6M to bring its domestic total to $316.4M and its worldwide haul to $908.5M.
    • Now read Disney: Disrupting ESPN »
    | Mon, Apr. 25, 12:32 PM | 13 Comments
  • Thu, Apr. 21, 4:19 PM
    • Walt Disney (NYSE:DIS) is bailing out of its joint venture of video-digital publisher Fusion, leaving it solely in the hands of Univision.
    • Univision in turn is going to combine the youth-focused network into a new unit, Fusion Media, along with other holdings, including The Onion and African-American focused The Root.
    • Fusion reaches about 27M people a month on TV, Web and social media platforms.
    • Now read Disney: Disrupting ESPN »
    | Thu, Apr. 21, 4:19 PM | 4 Comments
Company Description
The Walt Disney Co. together with its subsidiaries and affiliates is a diversified international family entertainment and media enterprise. It operates through five business segments: Media Networks, Parks & Resorts, Studio Entertainment, Consumer Products and Interactive Media. The Media... More
Sector: Services
Industry: Entertainment - Diversified
Country: United States