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  • News Hollywood Reporter: Disney Parks turn $356 million profit in last quarter

    Chapek's job is safe. His formula of higher prices plus product-cutbacks has proved to be a winner, as Disney's theme park customers vote a resounding Yes with their wallets.


    Disney Theme Parks Turn Profit For First Time Since Pandemic Struck

    Hollywood Reporter
    August 12, 2021

    The Walt Disney Co. on Thursday revealed that the company’s theme parks made a profit for the first time since the pandemic rocked the globe last year.

    Disney Parks, Experiences and Products swung to $356 million profit in the quarter ending July 3, compared with a $1.87 billion loss in the same period in 2020. Revenue totaled $4.3 billion as compared to $1.06 billion in the quarter ending in June last year.




    Disney beats Wall Street estimates as streaming grows, parks turn profit

    Reuters
    August 12, 2021

    Walt Disney Co. earnings topped Wall Street forecasts for the most recent quarter as its streaming services picked up new customers and the pandemic-hit theme parks unit recorded a profit.

    Shares of the entertainment company rose 5% in after-hours trading on Thursday to $185.53. Before the earnings report, shares were roughly flat from the start of the year....

    Disney+, Hulu and ESPN+ - the company's three online subscription offerings - gained close to 15 million new subscribers to total nearly 174 million. Disney+ had 116 million paying customers at the end of the quarter, just ahead of the 115.2 million consensus of analysts surveyed by FactSet....

    Disney's theme parks welcomed more visitors as pandemic restrictions eased. Theme park revenue rose for the first time in five quarters, hitting $4.34 billion.

    Net income for division reached $356 million, compared with a loss of nearly $1.9 billion a year earlier when many Disney parks were closed.




    Click image for larger version  Name:	999336766_Disney_Money.jpg Views:	0 Size:	46.6 KB ID:	8644901




    "Disneyland is often called a magic kingdom because
    it combines fantasy and history, adventure and learning,
    together with every variety of recreation and fun,
    designed to appeal to everyone."

    - Walt Disney

    "Disneyland is all about turning movies into rides."
    - Michael Eisner

    "It's very symbiotic."
    - Bob Chapek

  • #3
    Originally posted by whoever View Post
    For a company of Disney's market cap, that's pretty dismal. My lackluster dividends represent it well.
    LOL, I didn't get a good return with my dividend, I want more money! But why does it cost so much to get into the parks????

    Comment


    • #5
      Yes, they made a profit compared to 2020.... I mean, is this really news worthy? This quarter of 2020 basically had Disneyland closed 98% of that time frame since I believe it starts in March. If anything, I want to see the same period this year compared to 2019.

      Comment


      • #6
        Some coverage and thoughts from Dusty Sage - https://www.micechat.com/298883-disn...ult-questions/

        Is it time for another Save Disney movement, or is Disney on the right track?

        Please share your thoughts here, in the Disqus comments on the main post, and/or vote in the poll.

        Comment


        • #7
          My thoughts.

          It takes no skill to wring the existing value out of Disney. Anyone with a modicum of greed can do it, so someone with a surplus like Chapek is clearly excelling.

          The question is, what happens when future management has to deal with the consequences of today's lack of creativity and greed? The party won't last forever, and management knows this. They also know that they won't be the ones who have to deal with it.

          It's unfortunate. Tomorrowland at both Disneyland and the Magic Kingdom tell you everything you need to know about the future of the company. No crystal ball is needed. It's right there, if you choose to look.

          Comment


          • #8
            Originally posted by PhotoMatt View Post
            Some coverage and thoughts from Dusty Sage - https://www.micechat.com/298883-disn...ult-questions/

            Is it time for another Save Disney movement, or is Disney on the right track?

            Please share your thoughts here, in the Disqus comments on the main post, and/or vote in the poll.
            They are recovering, but the parks are in DISMAL shape both property and staff-wise. I'm shocked (I shouldn't be) that people will continue to pay the current premium price for such a dismal experience.
            Matt's 40th Birthday Disneyland Trip. Club 33, Napa Rose, and Adventureland Suite!!! ~~|~~ Katherine's 11th Birthday Dapper Day trip with Club 33 ~~|~~ Matt's Review of the Art of the Craft Tour at Disney's Grand Californian Hotel ~~|~~ My Spring, 2017 Dapper Day Trip Report ~~|~~ My Fall, 2016 Dapper Day and Club33 Trip Report ~~|~~ My Summer, 2016 Walt's LA tour with Bob Gurr and Marty Skylar ~~|~~ My Summer, 2016 Family Firsts Trip Report ~~|~~ Matt's September, 2015 Solo after the Safari Sunrise Trip Report ~~|~~ World Famous Jungle Cruise Safari Sunrise Premium Experience Trip Report ~~|~~ My February, 2015 Dapper Day Trip Report ~~|~~ My October, 2014 Family Vacation with Mickey's Halloween Party ~~|~~ My September, 2014 Dapper Day Trip Report ~~|~~ My August, 2014 Solo Trip Report - 1901/C33 Jazz Club ~~|~~ My June, 2014 Solo Trip Report ~~|~~ My February, 2014 Dapper Day Trip Report ~~|~~ My Epic May, 2013 Trip Report ~~|~~ My October, 2011 Trip Report ~~|~~ My October, 2010 Trip Report

            Comment


            • #9
              Originally posted by Mr Wiggins View Post



              Click image for larger version Name:	999336766_Disney_Money.jpg Views:	0 Size:	46.6 KB ID:	8644901
              YEP....This is the Real $ "MICKEY"$ Today

              Soaring like an EAGLE !

              Comment


              • #10

                From Dusty's update:

                "'Yield-management' was used to maximize guest spending while keeping costs down. This is mainly due to park reservations, and pushing consumers to book as many things as possible online and in apps instead of using physical Disney labor to make those reservations. We also suspect that Disney is operating with fewer employees per guest than before the shutdowns, but Disney hasn’t reported those sorts of details."


                To me, it's obvious that Chapek is taking DLR in exactly the direction that DLR customers want, namely, a lower quality product and higher prices. DLR customers keep telling Disney they're happy with cheaper, less creative offerings like Avengers' Campus. Happy with fewer on-duty CMs. Happy with dirtier bathrooms. Happy with do-it-yourself ordering. Happy with no parking lot trams.

                And they're proclaiming their approval every day in the manner that Disney understands: They're paying Disney whatever price Disney demands.

                The vast majority of even the longtime fans who are aware of Disney shortchanging its customers continue to pay whatever price Disney demands.

                Bottom line, Chapek knows he can lead his customer base around by the nose. They may complain, but they'll continue to pay whatever price Disney demands.

                Game over.
                "Disneyland is often called a magic kingdom because
                it combines fantasy and history, adventure and learning,
                together with every variety of recreation and fun,
                designed to appeal to everyone."

                - Walt Disney

                "Disneyland is all about turning movies into rides."
                - Michael Eisner

                "It's very symbiotic."
                - Bob Chapek

                Comment


                • #11
                  Originally posted by Mr Wiggins View Post
                  From Dusty's update:

                  "'Yield-management' was used to maximize guest spending while keeping costs down. This is mainly due to park reservations, and pushing consumers to book as many things as possible online and in apps instead of using physical Disney labor to make those reservations. We also suspect that Disney is operating with fewer employees per guest than before the shutdowns, but Disney hasn’t reported those sorts of details."


                  To me, it's obvious that Chapek is taking DLR in exactly the direction that DLR customers want, namely, a lower quality product and higher prices. DLR customers keep telling Disney they're happy with cheaper, less creative offerings like Avengers' Campus. Happy with fewer on-duty CMs. Happy with dirtier bathrooms. Happy with do-it-yourself ordering. Happy with no parking lot trams.

                  And they're proclaiming their approval every day in the manner that Disney understands: They're paying Disney whatever price Disney demands.

                  The vast majority of even the longtime fans who are aware of Disney shortchanging its customers continue to pay whatever price Disney demands.

                  Bottom line, Chapek knows he can lead his customer base around by the nose. They may complain, but they'll continue to pay whatever price Disney demands.

                  Game over.
                  Guest continue to pay whatever price Disney demands.......THEN $?$
                  I still VOTE NO with my Wallet !-The worth is not there -
                  imo
                  Soaring like an EAGLE !

                  Comment


                  • #12
                    Originally posted by Eagleman View Post
                    Guest continue to pay whatever price Disney demands.......THEN $?$
                    I still VOTE NO with my Wallet !-The worth is not there -
                    imo
                    You are one of the small minority of Disneyland fans who is voting No with their wallet.

                    Dusty's Update has a poll asking MiceChat readers if they think Disney is on the right track, or could do better, or is on the wrong track. As of the time of my post, 50% of the respondents think Disney is on the wrong track.

                    I think it's a safe bet that the percent of those who think Disney is on the wrong track and who also vote No with their wallets is in the single digits.

                    Disney knows that no matter how many people complain, the number who will vote No with their wallets is insignificant. No matter how cheap, understaffed and screwed up the online ticketing system has been, Disney knows that their customers will jump through hoops to buy Magic Keys on August 25.

                    Game over. Chapek wins.

                    "Disneyland is often called a magic kingdom because
                    it combines fantasy and history, adventure and learning,
                    together with every variety of recreation and fun,
                    designed to appeal to everyone."

                    - Walt Disney

                    "Disneyland is all about turning movies into rides."
                    - Michael Eisner

                    "It's very symbiotic."
                    - Bob Chapek

                    Comment


                    • #13
                      Originally posted by Mr Wiggins View Post

                      You are one of the small minority of Disneyland fans who is voting No with their wallet.

                      Dusty's Update has a poll asking MiceChat readers if they think Disney is on the right track, or could do better, or is on the wrong track. As of the time of my post, 50% of the respondents think Disney is on the wrong track.

                      I think it's a safe bet that the percent of those who think Disney is on the wrong track and who also vote No with their wallets is in the single digits.

                      Disney knows that no matter how many people complain, the number who will vote No with their wallets is insignificant. No matter how cheap, understaffed and screwed up the online ticketing system has been, Disney knows that their customers will jump through hoops to buy Magic Keys on August 25.

                      Game over. Chapek wins.
                      No with their wallets is insignificant..........and there only few small minority.
                      But I been saying it for years now....
                      "There more to Life than Disney"
                      By the way if =
                      Chapek wins, is not because of me

                      IMO
                      As you been saying - It going get worst than better !
                      Last edited by Eagleman; 08-12-2021, 06:08 PM.
                      Soaring like an EAGLE !

                      Comment


                      • #14
                        Regarding the parks specifically, I read a lot of guest experience posts a lot of the time, and as days go by these reports are becoming more critical, and for the right reasons. The lack of care is leaking into new attractions (Rise of Resistance, in which it's now been reported that both cannons have been dead for a while, elements are being left broken, and the CM's themselves are low energy and exhausted), it's pervading every inch of the park (no live entertainment, no sense of atmosphere, closed carts everywhere, low morale abounds), it's leaving beloved attractions to rot (Indiana Jones, Autopia, Star Tours, dare I add, the trams). It's a mess.

                        The gaslighting is another element I never expected to add, but I will. Disney and it's bumbling bunch of executives have shown that they do not care a thing about any type of customer (or employee for that matter), even those who have been loyal to them through thick and thin. They have done a fair share of spitting in people's faces this past year, and frankly, I don't think I'm the only person who feels absolutely flabbergasted by their recent PR gimmicks. This attitude has been spilling into the entertainment division for some time, prompting a lot of talented artists to leave, but I suppose one spoiled apple will rot the bunch.

                        I'm not excited for any of their new projects given that they have a terrible trend of throwing their talent under the bus, and whatever comes out of the machine feels dry and unimaginative. Their new film line-up does not excite me –– we've seen an old Indiana Jones, a blue Na'vi, a "Star War" before. Marvel still has life to it, sure, but it's fallen into it's own formula, and I think it needs to break out of it to pull me back in again (crossing my fingers it does).

                        Disney is lacking a creative head who understands the talent they have left. It needs someone with that charisma, but the company itself also needs to look outward and take notes from other entertainment companies that are creating inclusive, vibrant, healthy work environments. A lot of change needs to happen, but as a creative myself, I would not be drawn to Disney in the near future. As a customer, I'm also veering away. As a little girl who was so inspired by Disneyland that it set her out on an epic adventure to help craft these amazing stories that would inspire others to dream and achieve what some call the impossible, I'm sad.

                        Disney can do better, and I hope they do.

                        Comment


                        • #15
                          Originally posted by Mr Wiggins View Post


                          To me, it's obvious that Chapek is taking DLR in exactly the direction that DLR customers want, namely, a lower quality product and higher prices. DLR customers keep telling Disney they're happy with cheaper, less creative offerings like Avengers' Campus. Happy with fewer on-duty CMs. Happy with dirtier bathrooms. Happy with do-it-yourself ordering. Happy with no parking lot trams.

                          And they're proclaiming their approval every day in the manner that Disney understands: They're paying Disney whatever price Disney demands.

                          The vast majority of even the longtime fans who are aware of Disney shortchanging its customers continue to pay whatever price Disney demands.

                          Bottom line, Chapek knows he can lead his customer base around by the nose. They may complain, but they'll continue to pay whatever price Disney demands.

                          Game over.
                          Kind of the perfect time in history for this to happen right? With cultish, double-down attitudes all the rage that is...
                          The worse the parks get and the higher the prices is just an opportunity to show loyalty...
                          L + L = R

                          Comment


                          • #16

                            ^^ What Captain Andy said.

                            And what this reader said in the comments section of Dusty's Update:

                            "Disney Genie is everything bad and wrong with the way these people think about experiencing the parks & shows that they're completely disconnected from these places in any sort of reality. I can't wait to build a "consumer data profile" for a robot to tell me to go to Woody's Lunch Box while I hit refresh on my phone repeatedly to try to get into a virtual queue for "Van Singers: An Onward Experience." If you ever had any doubt that you were little more than a number on a spreadsheet to Disney, being referred to as part of a "yield" to be "managed" should sever all those Jiminy Cricket feelings about this place.

                            "Chapek also guaranteed that the parks would be packed by the end of the year, which yeah holidays & demand.. but the dropping of the Magic Key announcement as the parks get more and more jammed as is along with his insistence to shareholders of peak crowds comes off sinister. This is the indicator that they're going to cram these places full and then unveil the paid Premier Fastpass system to choked, captive crowds.

                            "Anyone plotting to buy an AP or Magic Key should hold off until well into October to see this play out. I don't know how anyone can see the behavior of the company through the pandemic and in the last few months and have a positive outlook. It honestly reads more transparently soulless to me than anything in the last 6-7 years."



                            "Disneyland is often called a magic kingdom because
                            it combines fantasy and history, adventure and learning,
                            together with every variety of recreation and fun,
                            designed to appeal to everyone."

                            - Walt Disney

                            "Disneyland is all about turning movies into rides."
                            - Michael Eisner

                            "It's very symbiotic."
                            - Bob Chapek

                            Comment


                            • #17
                              Originally posted by PhotoMatt View Post

                              It's unfortunate. Tomorrowland at both Disneyland and the Magic Kingdom tell you everything you need to know about the future of the company. No crystal ball is needed. It's right there, if you choose to look.
                              There's " NOT"' a Great Big Beautiful Tomorrow

                              lol



                              Soaring like an EAGLE !

                              Comment


                              • #18
                                Originally posted by Mr Wiggins View Post
                                Chapek's job is safe. His formula of higher prices plus product-cutbacks has proved to be a winner, as Disney's theme park customers vote a resounding Yes with their wallets.
                                I disagree. He's not in danger of loosing his job anytime soon. But his training wheels as CEO are not off yet. Iger is still with the company for another 4 months. Come January, Chapek is on his own.

                                We keep talking about the parks, but it's Disney's Studios that will either make-or-break Chapek's future. Bobby C. has started off on the wrong foot with the Studios. He demoted tentpole Pixar to being a freebie on Disney+. He tried to sidestep profits away from theaters with Premiere Access, while using the pandemic as excuse. And he has stepped on the toes of several Studio personel, like Scarlet Johansson, Kevin Feige, and the employees of Pixar.

                                Better question, how will he lead the collective studios? Will he go the Iger route and let them be autonomous? Or will he go the Eisner route and get heavily involved?

                                If his past actions are good predictor, then what happens when he wants to slash the budget on the next animated Disney movie? Or he demand all future Star Wars movies to be on Disney+ only? Maybe he'll request for an Avengers 5, 6, 7 and 8 by no later than 2024, using only 1/4 of the budget of the original film?

                                Make sure you grab some popcorn when 2022 begins....

                                Comment


                                • #19
                                  Originally posted by Spongeocto4 View Post

                                  I disagree. He's not in danger of loosing his job anytime soon. But his training wheels as CEO are not off yet. Iger is still with the company for another 4 months. Come January, Chapek is on his own.

                                  We keep talking about the parks, but it's Disney's Studios that will either make-or-break Chapek's future. Bobby C. has started off on the wrong foot with the Studios. He demoted tentpole Pixar to being a freebie on Disney+. He tried to sidestep profits away from theaters with Premiere Access, while using the pandemic as excuse. And he has stepped on the toes of several Studio personel, like Scarlet Johansson, Kevin Feige, and the employees of Pixar.

                                  Better question, how will he lead the collective studios? Will he go the Iger route and let them be autonomous? Or will he go the Eisner route and get heavily involved?

                                  If his past actions are good predictor, then what happens when he wants to slash the budget on the next animated Disney movie? Or he demand all future Star Wars movies to be on Disney+ only? Maybe he'll request for an Avengers 5, 6, 7 and 8 by no later than 2024, using only 1/4 of the budget of the original film?

                                  Make sure you grab some popcorn when 2022 begins....
                                  From your lips (er, post) to Iger's ears!
                                  "Disneyland is often called a magic kingdom because
                                  it combines fantasy and history, adventure and learning,
                                  together with every variety of recreation and fun,
                                  designed to appeal to everyone."

                                  - Walt Disney

                                  "Disneyland is all about turning movies into rides."
                                  - Michael Eisner

                                  "It's very symbiotic."
                                  - Bob Chapek

                                  Comment


                                  • #20
                                    Disney is effectively too big to fail at this point. If anything were to happen it would be a slow bleed and would need a substantial market shift to sustain that decline. At this point they can effectively
                                    buy their way out of issues with creative, they did already with Star Wars and Marvel the two franchises that have transformed them into the juggernaut they now are. IF there are issues with creative Disney will simply seek to buyout another studio or IP that will bandage the issue.

                                    in terms of the parks I think it’s become clear that the general public doesn’t really favor intense immersive experiences like Pirates or Haunted Mansion, they want instagrammable experiences that relate to the hottest new trendy IP. By all accounts the Marvel expansion was pretty poor but it’ll sustain itself because millions of fans wanted a selfie with Spider-Man. The only saving grace here is that constantly being on trend is next to impossible and when Marvel and Star Wars inevitably falter the parks probably will see a pretty substantial dip in visitors, especially if the Disney brand stops being trendy which is also inevitable.

                                    The move out of California though? That’s going to be really rough. Lots of imagineers moonlight film jobs and the center of all of that is on the west coast between vancouver and SoCal and the infrastructure already in place means that likely won’t change anytime soon. The way they contract out so many imagineers will NEED to change or people that were previously able to snag film contracts when their time with Disney was interrupted will just stay with film rather than zig zag across the country. Disney doubling down on their brand and hoping people take the bait there. I can tell you this, in terms of film Pixar and Disney are no longer the Crown Jewels that every animator wants to work for.
                                    Last edited by linkeq2001; 08-12-2021, 11:04 PM.

                                    Comment

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