Disney Quarterly Earnings and Say goodbye to Disney Infinity

[rteetz]

Big news out of the quarter closing today after stocks closed for today. Disney announced they are exiting the video game business.

http://www.cnbc.com/2016/05/10/disney-reports-q2-earnings-results-.html

https://twitter.com/cnbcnow/status/730135209744715776

http://diskingdom.com/2016/05/10/disney-infinity-ceases-production/

http://www.laughingplace.com/w/articles/2016/05/10/disney-q2-2016-earnings-call-live-blog/

 

[TheMaxRebo]

wow, pretty shocked by the video game news. I know it was a struggling overall from a monetary standpoint but I thought Disney Infinity was doing quite well (I mean, they must make a huge margin on each figure) - so I thought they would just scale things back and focus on a few key areas

 

[Budshark]

Boo... my boy is bummed.

Alice and Dory both coming out before they fully shut down. No word yet on the pending "fans choice" Peter Pan figure that has been promised.

 

[rteetz]

Zootopia is highest grossing animated film of all time in China

 

[rteetz]

Revenue for Disney Park is up but attendance is flat...

 

[rteetz]

Hotel occupancy down 1% spending up 5%

 

[Irish_Mike]

I'm really surprised that Disney is dropping Infinity, it's always seemed so popular and well selling.

 

[wilkeliza]

So sad for Disney Infinity and the crew. So many dedicated people who are now out of a job. I hope they don't let the game just go to crap once everything is closed. So much revolved around the Disney Infinity network and it isn't clear if that will stay up or if you will only be able to play what is available once it is all closed.

 

[rteetz]

Disney cruise line had a great first half of the year.

 

[rteetz]

ESPN Ad revenue down 13%

 

[rteetz]

Disney Infinity is going away. Disney will only continue to license video games from now on. This will result in 300 layoffs...

 

[rteetz]

Disney passed $3 billion in global box office doing so faster than any other studio.

 

[rteetz]

Jungle Book is the highest grossing film in India

 

[rteetz]

Iger is very excited for the Shanghai Grand Opening next month. Trial operations are on going and fine tuning will happen until the opening. Iger says Pirates is one of the highlights of the new park.

 

[rteetz]

Iger is asked during Q and A about Staggs and finding a successor. He says Staggs was a great friend and colleague. He also says the two years left on his contract should be enough to find a successor and he has no plans to extend his contract.

 

[TheMaxRebo]

I'm really surprised that Disney is dropping Infinity, it's always seemed so popular and well selling.

I am a bit surprised too - though my guess is they can't justify keeping the entire video game business segment for one game - and one whose shelf life is perhaps running out.

 

[rteetz]

Disney can't comment on actual numbers regarding streaming services Sling Tv or Sony Vue but Iger says that after they added ESPN subscriptions increased.

 

[TheMaxRebo]

Hotel occupancy down 1% spending up 5%

I assume that is global hotel occupancy, correct? I feel like I've heard recently the Florida hotels were running at rather high occupancies in general

 

[rteetz]

Iger says Disney is looking to expand in Tokyo and Hong Kong (rumored second gate).

 

[rteetz]

I assume that is global hotel occupancy, correct? I feel like I've heard recently the Florida hotels were running at rather high occupancies in general

I would assume that but I'm not positive. I don't know how they work in numbers for places like Tokyo and Hong Kong which they don't own majority.