Magic unveiled! The Walt Disney Company recently held its Q3 2024 earnings call, painting a vivid picture of what’s to come. Hosted by Alexia Quadrani, EVP of Investor Relations, alongside industry titans Bob Iger and Hugh Johnston, the call was a treasure trove of fascinating insights.
Jessica Reif Ehrlich of Bank of America kicked off the session with a deep dive into the theme parks and upcoming NBA rights deal. Disney’s Hugh Johnston emphasized the resilience of the parks, noting only a “slight moderation in demand.” As Disney unveils new cruise ships and prepares for another NBA season, exciting times lie ahead. But with attendance figures remaining flat, it’s the international markets lending a hand and setting the stage for a global spectacle.
And what about Disney+? The digital streaming realm, as detailed by Iger, is brimming with promise. With content spanning from “Moana 2” to “Mufasa”, and the addition of news and ESPN, Disney+ is morphing into a content behemoth. The company’s foray into bundling, password-sharing crackdowns, and cutting-edge tech improvements all point towards a surge in subscriber engagement and growth.
The conversation then turned to the future of spending with a delicate dance between sports, TV, and movies. With 183 Emmy nominations and a strong portfolio of box office hits, Disney’s content mix strategy appears as magical as ever. The team also had its eyes set on free cash flow projections, aiming to maintain an impressive $8 billion mark.
Lastly, discussions veered towards strategic partnerships for ESPN and the steady advertising market. With live sports proving to be a magnet for advertisers, Disney’s ad revenue witnessed robust growth, reinforcing its position as a leader in entertainment.
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Source: Motley Fool Transcribing
