News
Disney Quarter 2 fiscal earnings.
http://www.laughingplace.com/w/articles/2017/05/09/disney-fy17-q2-earnings-live-blog/
Revenue is $13.34 Billion
Parks and Resorts profit grew 20% compared to last year
Growth comes mainly from Disney Studios and Parks and Resorts
Consumer Products and Interactive Media is down 11%
Disneyland Shanghai was profitable for the first time since opening.
Bob Iger believes new packages such as DirecTV Now will help ESPN.
Iger reiterates ESPN direct to consumer product by the end of the year.
Iger is confident the board will find the right person to replace him.
Iger has missed the first two Economic Advisory councils with Trump but hopes to be at the next one.
Shanghai Disneyland will hit 10 million visitors within days.
They are looking at expanding the Shanghai Disney Resort
Decrease in consumer products was due to slow down in Star Wars and Frozen merchandise.
80% of people who access ESPN do it from a mobile device.
Disney has 11 Franchises that generate over $1 billion in retail sales.
Disney expects Shanghai slow down in Q3 due to change in seasons.
Disney offered promotions to drive park attendance, due to timing of Spring Break and end of 60th anniversary at Disneyland.
NBA deal will have a major impact on next quarter due to costs.
Disney expects to invest more in the parks.
Disney expects to repurchase $9-10 billion in shares.
Bob Iger highlights new cruise ships and
unannounced hotel plans as avenues for growth.
Iger says that another growth opportunity for the parks is adding more intellectual property to them.
Iger says Disney does not have current plans to take main ESPN product to direct to consumer but sees it eventually happening.
They expect ESPN to continue to be a multi-channel product for the foreseeable future.
Iger wants to secure Disney's film future, figure out ESPN, and continue to grow Disney's leadership team in his remaining time.