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Disney's 1st quarter rises

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  • Disney's 1st quarter rises

    Disney made it a trifecta, reporting better-than-expected quarterly financial results after News Corp. and Time Warner did similarly in recent days.

    While cost-cutting at the film studio and good domestic home entertainment numbers helped, Disney owes its success mostly to television, a unit that CEO Bob Iger would like to ring more cash out of by way of ABC retransmission fees.

    "It clearly would not be our preference to see that our signal was taken down and we'll do whatever we possibly can through negotiation to avoid that," he told analysts during a conference call Tuesday.

    Jay Rasulo, on the call in his new role as CFO, singled out "Criminal Minds" as an overperformer for ABC, while Iger boasted of the Wednesday programming block of "The Middle," "Modern Family" and "Cougar Town."

    Rasulo boasted that so far in the quarter the scatter market is 30% above upfront levels for ABC.


    Iger also gave a shout-out to the iPad, the new product from Apple, run by Disney board member and top shareholder Steve Jobs. The tablet computing device that resembles a giant iPod Touch "could be a game changer in terms of enabling us to essentially create new forms of content," he said.


    Disney, of course, is revamping its film studio under Rich Ross, and Iger promised it would emerge a more efficient machine after tinkering with the timing, pricing, marketing and distribution of its films. He said the quality of output will be noticed in 2011.

    The notable titles this year, according to Iger, include "Alice in Wonderland," "Prince of Persia: The Sands of Time," "The Sorcerer's Apprentice," "Iron Man 2" from its new Marvel acquisition and "Tron Legacy."

    Iger also confirmed the company is looking to sell Miramax, saying that making movies under that label "isn't a core strategy of ours."

    Overall, Disney's net income in the fiscal first quarter ending Jan. 2 was $844 million, $1 million less than a year ago. Revenue rose 1% to $9.74 billion.
    full article at:
    Disney's first-quarter revenue rises
    "If you don't know how to draw, you don't belong in this building" - John Lasseter 2006

  • #2
    Re: Disney's 1st quarter rises

    Good news for stock holders. Modern Family is a great show, too bad I'm seeing a lot of reruns already, and Criminal Minds isn't bad either. Hoorah!
    Hidden Mickey - Tower of Terror



    Hidden Mickey's here: http://www.flickr.com/photos/whatzup...7623565921220/
    Check out my Wal't Apartment tour here: http://www.flickr.com/photos/whatzup/sets/72157625183415995/

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    • #3
      Re: Disney's 1st quarter rises

      A longer version.
      The Walt Disney Company Reports First Quarter Earnings - MarketWatch
      . Decreased guest spending was driven by lower average ticket prices and decreased food and beverage and merchandise spending.
      If there were only a way to increase the average admission revenue per guest.....

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      • #4
        Re: Disney's 1st quarter rises

        The most interesting information was that theme park attendance at WDW was down 1% but up 15% at DLR. Maybe quality will win out over quantity after all...

        http://thedailydisney.com/blog/2010/02/disney-earnings-story/

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        • #5
          Re: Disney's 1st quarter rises

          Originally posted by indianajack View Post
          The most interesting information was that theme park attendance at WDW was down 1% but up 15% at DLR. Maybe quality will win out over quantity after all...

          http://thedailydisney.com/blog/2010/02/disney-earnings-story/
          WDW's attendance is driven by guests who have to spend a lot of money to get there and to stay there. In a down economy, they don't go.

          DL's attendance is driven by locals getting in extremely cheaply, and I think every single person in SoCal went on their birthday (for free or to get a voucher) last year.
          DL's attendance does not drive revenue as much as it should. Revenue not keeping up with expenses --> expenses must be lowered --> qquality must be lowered.

          So, no, what you're thinking is not happening, and, in fact, the opposite is occurring, and has been occurring for about 15 years.

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          • #6
            Re: Disney's 1st quarter rises

            Originally posted by sediment View Post
            WDW's attendance is driven by guests who have to spend a lot of money to get there and to stay there. In a down economy, they don't go.

            DL's attendance is driven by locals getting in extremely cheaply, and I think every single person in SoCal went on their birthday (for free or to get a voucher) last year.
            DL's attendance does not drive revenue as much as it should. Revenue not keeping up with expenses --> expenses must be lowered --> qquality must be lowered.

            So, no, what you're thinking is not happening, and, in fact, the opposite is occurring, and has been occurring for about 15 years.
            This is especially true given that the number of AP's climbs steadily every year. Add to that discounts such as the "2 fer", and the free birthday ticket and you begin to see the problem. The locals come, but they don't necessarily spend the kind of money that drives revenue.

            P.s
            Was anyone else surprised to see that Criminal Minds is produced by ABC?
            :sc:-"Enjoy the rest of your stay here at Disneyland, where all of your dreams come true...well except for two of them, short lines and cheap food.":sc:

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