WE HAVE A LOT OF TWISTS AND
TURNS UNTIL OUT OF IT.
CONNELL: I DON’T KNOW IF IT’S A
LIGHT AT THE END OF THE TUNNEL,
JONATHAN, DISNEY EARNINGS, IT IS
LOSS WHICH WAS EXPECTED ARE
BREAKING AS WELL.
NOT AS EXPECTED I DON’T BELIEVE.
20 CENTS A SHARE.
THE STREET WAS EXPECTING DISNEY
TO LOSE MUCH MORE, 70 CENTS.
REVENUE BETTER THAN EXPECTED,
14.71 BILLION.
STOCK UP ALMOST 5% AS NUMBER
CAME OUT.
GIVE US A DEEP THOUGHT ON
DISNEY,.
>> CONNELL, THIS STOCK IS
SHOOTING UP AFTER THE HOUR.
COULD BE QUESTION SELL THE
RUMOR, BY THE FACT OR SETTLE THE
FACT, BUY THE RUMOR.
DISNEY THE WHOLE BUSINESS MODEL
IS CENTERED AROUND ENTERTAINING
LARGE GROUPS OF PEOPLE, THEME
PARK BUSINESS, HAS BEEN
DECIMATED BY COVID.
ANYTHING THAT USED TO
DISTINGUISH DISNEY, LIKE THEME
PARKS OPPOSED TO NETFLIX HAVE
BEEN A DRAG BECAUSE OF COVID.
WE WANT TO DIG INTO THE DISNEY
PLUS NUMBERS.
THE STOCK IS AN UNDERPERFORMER.
DISNEY HAS BEEN UP 4%.
NICE TO SEE A LOSS BECAUSE THE
STOCK ANTICIPATED IT.
THAT IS WHY IT IS UP AFTER THE
BELL.
CONNELL: NOT AS BIG AS EXPECTED
AS WE SAID ON THE LOSS.
CAROLLTON, JONATHAN PICKS UP
PARKS EXPERIENCES AND CONSUMER
PRODUCTS DID A LITTLE BETTER
THAN EXPECTED.
$2.58 BILLION IN REVENUE.
THE EXPECTATION WAS 2.38.
WE’LL GET IN WHEN ASHLEY WEBSTER
JOINS US IN A MOMENT ON DISNEY
PLUS.
DISNEY IS TRYING TO WEATHER THE
STORM TO GET THROUGH THIS ONE OF
THE WAYS YOU DO THAT LAUNCHING A
STREAMING SERVICE WHILE EVERYONE
IS AT HOME.
YOUR THOUGHTS ON DISNEY?
>> EXACTLY.
THEY HAVE TO DO SOMETHING TO
MAKE UP FOR THAT LOST PARK
REVENUE.
DISNEY PLUS CERTAINLY IS A WAY
TO DO THAT AND THE TRICKY PART
HERE IS LAUNCHED ABOUT A YEAR
AGO.
WE HAVE TO SEE, ARE THOSE KIND
OF VERIZON CUSTOMERS THAT GOT
THE PACKAGE DEAL, WILL THEY ROLL
OFF?
IS DISNEY GOING BE ABLE TO MAKE
UP FOR THE LOST REVENUE ON THE
PARK SIDE OF THE BUSINESS OR
EVEN THE PRODUCTION THAT HAS
BEEN DELAYED OR HALTED BECAUSE
OF COVID.
IS STREAMING GOING TO BE ENOUGH
TO DO THAT?
WHAT I’M REALLY LOOKING FOR IS
NEXT MONTH, THEY HAVE THE
INVESTOR DAY, THEY TALK ABOUT
THE NEW MEDIA STRATEGY THEY
HAVE.
HOW THEY WILL BE LOOKING TO
MONETIZE THEIR CONTENT, WHETHER
IT MAKES SENSE FOR THINGS TO GO
TO A THEATER, GO ON TV, GO ON
THE STREAMING PLATFORM.
CONNELL: UH-HUH.
ALL RIGHT.
BOY, THIS STOCK IS REALLY
SHOOTING HIGHER NOW, UP 6%.
LET ME BRING IN ASHLEY WEBSTER
WHO IS COVERING THIS AFTER THE
BELL FOR US.
ASHLEY YOU COULDN’T ASK FOR MUCH
MORE FROM DISNEY I GUESS?
ASHLEY: THE HEADLINE NUMBERS.
WE WERE EXPECTING A LOSS OF
70 CENTS.
IT CAME IN WITH A LOSS OF
20 CENTS.
THE REVENUE TOO AS YOU POINTED
OUT, CONNELL, 14.71 BILLION.
IT IS STILL DOWN AROUND 20%
YEAR-OVER-YEAR BUT BETTER THAN
WAS FEARED.
I’M LOOKING AT PARKS AND
EXPERIENCES.
YOU KNOW, THOSE ARE THE CRUISES,
ALL THE THEME RESORTS AND THEME
PARKS, COMING IN AT
2.58 BILLION.
STILL NOT GREAT.
A LOT BETTER THAN THE
THIRD QUARTER WHERE THIS SEGMENT
LOST 3 1/2 BILLION DOLLARS.
IT DOES BEAT THE EXPECTATIONS
BUT STILL DOWN.
I MEAN YEAR-OVER-YEAR, 50%.
VERY HARD TO COMPARE ANYTHING TO
LAST YEAR OF COURSE.
THE STUDIO ENTERTAINMENT NUMBER,
NOT SURPRISING, COMING IN AT 1.6
APPROXIMATELY.
THE ESTIMATE WAS 2.07 BILLION.
THE STUDIOS HAVE BEEN HIT SO
HARD.
A LOT OF PRODUCTIONS HAVE BEEN
POSTPONED IN SOME CASES CANCELED
BUT THE QUESTION BECOMES ARE YOU
GOING TO DO MORE DISNEY TO GO
STRAIGHT TO DISNEY PLUS WITH
YOUR THEATRICAL RELEASES.
WE’LL GET INTO THAT MORE.
MEDIAN NETWORKS NUMBER WAS
BETTER AS WELL, COMING IN
7.2 BILLION.
THE EXPECTATION WAS 6.8 BILLION.
YOU LOOK AFTER-HOURS THE STOCK
US UP 6%, THEREABOUTS.
TO YOUR GUESTS POINT, CAN THE
DIRECT TO CONSUMER NUMBER, THAT
IS THE YOU KNOW, INCLUDE DISNEY
PLUS THAT WAS SLIGHTLY BETTER
THAN EXPECTED.
IT IS UNDER DIRECT TO CONSUMER,
INTERNATIONAL, SLIGHTLY BETTER
THAN EXPECTED BUT NOT ENOUGH
OVERALL TO OFFSET WHAT THEY HAVE
SEEN FOR THE LOSSES AT THEIR
THEME PARKS AND RESORTS.
LET’S NOT FORGET DISNEYLAND IN
CALIFORNIA STILL CLOSED BECAUSE
OF THOSE VERY STRICT CALIFORNIA
REGULATIONS, COULD STAY CLOSED
UNTIL NEXT SUMMER.
THERE HAS BEEN TALK OF DISNEY
MAY JOIN A LAWSUIT WITH OTHER
ENTERTAINMENT AND THEME PARK
OPERATORS IN CALIFORNIA TO TRY
TO GET AT LEAST A PARTIAL REOPEN
LIKE THEY HAVE IN DISNEY WORLD.
SO WE’LL SEE IF ANY MENTION OF
THAT AT ALL ON THE CALL COMING
UP AT THE BOTTOM OF THE HOUR.
BUT OVERALL, AS YOU CAN SEE,