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The Walt Disney Company (DIS)

  • Tue, Feb. 3, 4:24 PM
    • Disney (NYSE:DIS) posts a huge beat of $1.27 (up 27%) on a record $13.39B in revenues, higher even than the top range of expectations for its fiscal Q1.
    • Lots of strength in segment revenues: Media Networks up 11% to $5.86B; Parks and Resorts up 9% to $3.91B; Studio Entertainment down 2% to $1.86B; Consumer Products up 22% to $1.38B; Interactive down 5% to $384M.
    • While revenues were off in Studio Entertainment and Interactive, operating income rose in both, 33% and 36% respectively.
    • Free cash flow of $857M is up 55% from the prior year.
    • Shares up 3.2% after hours, following today's 2.4% gain in the regular session.
    • Press release
  • Tue, Feb. 3, 4:17 PM
    • Walt Disney  (NYSE:DIS): FQ1 EPS of $1.27 beats by $0.20.
    • Revenue of $13.39B (+8.8% Y/Y) beats by $520M.
    • Shares +1.88%.
    • Press Release
  • Mon, Feb. 2, 5:35 PM
  • Mon, Jan. 26, 10:36 AM
    • Shares of Jakks Pacific (JAKK +0.4%) and LeapFrog (LF +0.4%) are higher despite the sharp guidance cut from toy maker Mattel.
    • Both companies are viewed by analysts as strong in channels where Mattel is weak.
    • The toy player which has wreaked the most havoc on Mattel (MAT -2%) is Disney (DIS -0.5%) with the Frozen doll phenomenon cutting deeply into Barbie sales over the last year and showing little signs of abating.
    • M&A talk could pick up in the sector with some entertainment giants eyeing the success Disney has had integrating franchise film characters into toys.
    • Talks on a DreamWorks Animation-Hasbro combination were active last fall.
    • Previously: Mattel -10.6% after CEO resigns and guidance lowered
    • Previously: Toy sales up 4% in 2014 (Jan. 20 2015)
  • Thu, Jan. 22, 11:50 AM
  • Tue, Jan. 20, 3:59 PM
    • Toy sales rose 4% to $18.08B in 2014, according to NPD Group.
    • Frozen (NYSE:DIS) merchandise brought in close to $531M spread across 39 different toy categories.
    • Mattel (NASDAQ:MAT), LeapFrog (NYSE:LF), and Jakks Pacific (NASDAQ:JAKK) showed strength in various categories.
    • Samsung was also a factor in the toy market through strong demand for the kids Galaxy Tab 3.
  • Fri, Jan. 16, 11:11 AM
    • NPD data shows a strong performance for Disney (DIS +0.4%) in the "toys to life" category for the holiday period.
    • Sales tied to the Infinity system were up 16% Y/Y.
    • Starter pack sales increased 10% to 1.2M.
    • Infinity faces competition from Activision Blizzard (Skylanders) and Nintendo (Amiibo), but has gained edge with the inclusion of more Disney franchise characters into the gaming system.
    • Disney Interactive pulled out a $18M profit in FQ4.
    • NPD Dec. game sales breakdown
  • Thu, Jan. 15, 12:40 PM
  • Tue, Jan. 13, 11:14 AM
    • ESPN (NYSE:DIS) scored an 18.5 overnight rating for last night's college football championship game to set an all-time cable record.
    • The audience was up 21% Y/Y.
    • If other ESPN outlets are included, the ratings improves to 18.9.
    • 30-second commercials went for as much as $1M per spot, according to reports.
    • ESPN has the rights to the college football playoffs out to 2025.
  • Wed, Jan. 7, 12:01 PM
    • Disney (DIS +1.2%) will continue to assume the risk of a movie studio misfire, according to CFO Jay Rasulo.
    • The company is the only major studio that doesn't lay off some risk to a financial partner through deals.
    • As Rasulo noted, Disney can lean on the integration of franchise films into consumer products, theme parks, and video games to avoid some of the ups-and-downs which can impact purer-play studios such as Lions Gate and DreamWorks Animation.
    • Rasulo gave his assessment at the Citi 2015 Internet, Media and Telecommunications Conference yesterday (webcast).
  • Tue, Jan. 6, 4:16 PM
    • projects gas prices will average $2.64 per gallon in 2015.
    • Most economists see a boost in U.S. retail spending from the gas savings with the exception of regions highly dependent upon the energy industry.
    • While some Q4 reports from restaurant chains and retailers may show a marginal lift in sales due to the drop in gas prices, insiders think quantifying the impact will be more art than science.
    • The following sub-sectors have been tapped by analysts as potential under-the-radar beneficiaries of the gas price effect.
    • Theme parks: SIX, FUN, DIS, CMCSA, PLAY.
    • Beverages: KO, PEP, COT, DPS, BUD, SAM, BREW, TAP, MNST.
  • Mon, Jan. 5, 7:46 AM
    • ESPN (NYSE:DIS) is considering entering the daily fantasy sports market, according to a report from SportBusiness Daily.
    • Fantasy sports sites FanDuel and DraftKings have seen explosive growth through their contests aimed at sports fans.
    • Comcast (NASDAQ:CMCSA) holds a position in FanDuel through its VC arm.
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  • Sat, Jan. 3, 11:18 AM
    • ESPN (NYSE:DIS) gobbled up more market share in 2014, according to year-end Nielsen data.
    • The sports network grew total viewers 6% to ascend to number one on the chart, while other top cable networks such as USA, TNT, and TBS were on the decline.
    • ESPN was one of only 7 top-40 networks to increase viewers in the key 18-49 demographic during the year.
    • By the numbers: Disney makes an estimated $5.75 per pay-TV subscriber for ESPN. SNL Kagan thinks the mark could go to $8.34 by 2018.
    • What to watch: Media analysts have noted that ESPN has locked up long-term contracts for most of the major sports leagues it covers. Depending upon how the future of pay-TV is viewed, the development gives ESPN upside potential to grow carriage fees/advertising/streaming revenue or gives it risk if there is a drop in subscribers.
    • Previously: College football playoffs go well for ESPN and Nike (Jan. 2)
  • Fri, Jan. 2, 12:35 PM
    • ESPN's (NYSE:DIS) big spend on securing rights to the first College Football playoff games appears to have paid off a bit with last night's Sugar Bowl generating a 15.3 household rating to follow the 15.5 rating scored by the Rose Bowl earlier in the day.
    • The early game marked a 38% ratings jump from the bowl game broadcast by ESPN a year ago, while the rating for the later game was 125% higher than a year ago.
    • ESPN will air the College Football Playoff championship game on January 12.
    • By the numbers: The network spent $7.3B to secure the college football playoff rights for 12 years.
    • Related: Nike (NYSE:NKE) is also riding high with the company having close ties to finalists Oregon and Ohio State.
  • Fri, Jan. 2, 11:54 AM
    • 2014 saw a mixed performance for movie studios (LGF, CMCSA, TWX, DIS, SNI, VIA, VIAB, FOXA, DIS).
    • U.S. box office -5.2% Y/Y to $10.3B. Higher ticket prices and improved in-theater spending helped offset low traffic.
    • China box office +36% Y/Y to $4.77B Though the number of foreign films are capped by the government, the box office winner in the nation in 2014 was Paramount's Transformers: Age of Extinction. Local productions accounted for 54% of the tally. IMAX (NYSE:IMAX) had a big year.
    • U.K. box office -5% to $1.73b. The Lego Movie from Warner Bros. topped the chart.
    • France box office +8% to $4.77B.
    • Japan +5.9% led by a stellar $249M from Disney's Frozen.
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  • Dec. 31, 2014, 8:42 AM
    • Streaming: Sony (NYSE:SNE), HBO (NYSE:TWX), CBS (NYSE:CBS), and Dish Networks (NASDAQ:DISH) are set to unveil streaming products in 2015. The theory of the companies that the skinny bundles will draw in more cord-cutters and cord-nevers than they will cannibalize current pay-TV subscribers will be put to the test. The rush of streaming options could help or hurt Netflix (NASDAQ:NFLX) depending upon which analysis an investor leans on.
    • Theater traffic rebound: Exhibitors (CNK, RGC, AMC, CKEC, IMAX) and movie studios (LGF, VIA, VIAB, DIS, FOXA, CMCSA, TWX) maintain that the decline in theater attendance in 2014 (-6%) was due to a slate of films light on blockbusters. A bounce is forecast for 2015 with high-profile films such as Avengers: The Age of Ultron, The Hunger Games: Mockingjay Part 2, Fifty Shades of Grey, Jurassic World, Spectre (James Bond), and Mission Impossible 5 all set to premiere - along with the reboot of the Star Wars franchise in December. Capex spending on theater upgrades could also help boost in-theater spending and average ticket price for exhibitors.
    • Mergers: If regulators allow the Comcast-Time Warner Cable (NYSE:TWC) and AT&T-DirecTV (NASDAQ:DTV) mergers to sail through it could clear a path for other media combinations, note analysts. Potential buyers include Alibaba (NYSE:BABA), Wanda Group, Softbank (OTCPK:SFTBY), and a TWX-rebuffed 21st Century Fox (NASDAQ:FOXA). Content producers which could be targets include Starz (NASDAQ:STRZA), Lions Gate (NYSE:LGF), DreamWorks Animation (NASDAQ:DWA), AMC Networks (NASDAQ:AMCX), and Scripps Networks (NYSE:SNI). A split-up Madison Square Garden (NASDAQ:MSG) could also be enticing.
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Company Description
Walt Disney Co, together with its subsidiaries, is a diversified entertainment company with operations in five business segments: Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products and Interactive.