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There have been several ‘internet analyses’ in recent weeks as to whether Disney has actually lost money on most of its big tentpoles movies including even Marvel. Hollywood accounting is an arcane science best left to mob accountants and FBI agents. On paper, all movies lose money and figuring out whether movies that blow through billions on paper (and also make billions on paper) are losing or winning is a mug’s game.
There has been an estimated $900 million in summer losses after some movies just crashed and burned, but it takes a lot of forensic accounting and access to information few have to figure out the real numbers.
But CEO Bob Iger has made the case to Disney shareholders that profits and losses in Disney+ (which has been losing a ton of money) and even its movies don’t matter because the movies are really bulking up profits in its theme parks.
Which theme parks? (They’re not in Florida.)
Disney plans to nearly double its investments in its popular theme parks and cruise line, the company said in a securities filing Tuesday.
Why it matters: Profits from theme parks have helped offset Disney’s streaming losses for years.
Disney pointed out that strong historical investments in its intellectual property have helped to consistently grow revenues at its parks, experiences and resorts segment.
It highlighted the strength of its investments over the past 20 years in franchises such as “Star Wars,” “Toy Story” and “Cars.”
Disney’s parks, experiences and products revenues last quarter increased 13%, but that was mostly thanks to increased results at its international parks and resorts.
A decrease in attendance at Walt Disney World Resort in Florida last quarter, coupled with higher costs, resulted in lower operating income from the company’s domestic parks.
Disney is talking about selling off ABC. Iger is pitching Disney as a resort and theme park company that spends $30 billion on content to get foreigners to visit and stay. As business models go, this one is pretty bonkers.
But I’m sure once Disney brings Wakanda to life, the profits will be enormous.
Disney shares closed on Monday at $85. Their price was $197 in 2021.
Josh D’Amaro, chairman of Disney Parks, Experiences and Products, declined to specify how the company planned to spend the $60 billion. But he gave hints, noting that Disney movies like “Coco,” “Zootopia,” “Encanto” and others had not yet been incorporated into the company’s parks in meaningful ways.
“Imagine bringing Wakanda to life,” he said, referring to the fictional “Black Panther” kingdom.
Just imagine. They’ll really love that in Shanghai, Tokyo and Paris. Also Hong Kong.
Our house “cut the cord” immediately following the ’16 Faux News debate, when the network finally showed their true colors. I figured if I couldn’t trust them any longer, there was no point. We get our news and entertainment from sources we can trust and have never been happier or better informed.
With that in mind, I found it interesting to receive a postcard in the mail recently, advertising Disney’s $1.99/mo plan. Interesting too, since I’ve never once subscribed to their channel or service. Ever. How much did they spend on advertising this promotion to America? Probably more than they could afford. “They don’t know us very well, do they?”, I said to my wife as I tossed it in the garbage…and that’s exactly where trash belongs.
That’s a funny anecdote.
I grew up in Southern California and as a wee lad I loved going to Disneyland.
I won’t give that evil company a single penny ever again, though.
I once tried to take my son and his brother to Disneyworld in Florida and when I booked the tickets, they made our arrival to it’s hotel late in the evening and our departure early in a morning. An obvious ripoff. I canceled the booking.
And all its movies suck now.
Yeah, it was great back then, wasn’t it? I wonder when it started to go bad.
When old Walt died, I reckon. “The Jungle Book” was the last good film Disney made and it was masterminded by Walt like all the ones before it. He was a great guy and Iger is a piece of shit.
I still love “The Haunted Mansion” and “Pirates of the Caribbean” though. Have’n’t been there for decades but I still have my memories.
I wonder if Walt’s head is really frozen in a cryogenic freezer?
1966. That would make sense. I didn’t notice it until the “Lion King” video, which enraged me for its leftist propaganda.
About 10 years ago my daughter took my grandson to Disneyland in Ca. She said 3/4 of the people were muslimes, all dirty and rude. She ended any past love of Disney at that time
John:
Unless there is a turn around for the Disney Corporation, I expect the stock to go lower. If Walt Disney was alive today, I think he would be very disappointed at the way the company is run. His approach to making wonderful movies for children and theme parks were great. Now, the company has loss its ability to continue that approach.
The fact that the demographic is changing in America certainly would have an impact on the caliber of people attending Disneyland. I wonder if Sea World has changed as well?
I know there are no Killer whales at Sea World anymore. “Save Willy” fucked all that up.Those orca performances were great.
Those giant dolphins used to “kiss” audience members.
I guess it still has dolphins, Walruses and ethnic Japanese pearl divers, though.
The last time was there, one of the Jap chicks gave me a pearl for free.
No doubt Disney has lost its compass. They are not alone in that.
Ive always wondered how certain cities and tourist areas can get themselves all excited about going “”gay” friendly.
What math are they using?
As an example, in my parents household there were 5 kids and 2 adults. We vacationed somewhere every year.
My father paid for 7 meals 3 times per day. 7 passes to enter parks, hotel room that fit 7 people. Our grandparents sent us kids off on vacation with money to buy souvenirs. All of our aunts and uncles and neighbors had similar families and customs. And the vacations became generational (we all returned to vacation with our kids years later)……..What a delicious, huge pile of money.
2 gays are going to spend that kind of money? Dont be silly. Generational business? Tell me how that works.
The places that have ”drug tourism” ……………….What could go wrong?
“Drug tourism.” That sounds bad. 😛
Sure, they’ll spend that money.
Remember, traditional American families are on the decline and have less disposable income than ever. Two single adults obsessed with pop culture are much more likely to spend thousands of dollars on Disney products, tickets, cruises, movies, than a family.
The Disney family is out, the Disney adult is in
60% of Disneyland visitors were adults with no children. Only 36.7% of Disney World visitors had children under 18.
That’s really weird. Adults without kids?
I went to Disneyland when I was 27 and was bored out of my mind. Only the Haunted Mansion held any attraction for me. I do have pleasant reminisces of that place but I’ll never go back until Iger is gone and a NORMAL person is CEO.
They’re adults who never grew up.
“This is altogether different than San Francisco, where I recently witnessed a group of 30-somethings throw a birthday party, complete with balloons and decorations, for a French bulldog; where autonomous vehicles with startup logos navigate through empty streets around homeless encampments filled with drug zombies; where the local Lego store doesn’t gift wrap purchases because it’s mostly adults buying Lego sets for themselves. ”
https://www.tabletmag.com/sections/israel-middle-east/articles/among-the-protesters-antonio-garcia-martinez
I saw some of those drug zombies on Newsmax. They were lying on the sidewalk in a stupor. They weren’t even moving. I don’t remember what big city it was.
It horrified me, to be honest. And I’ve seen a lot more horror in my life than the average guy.
Let’s hope that Disney management does, in fact, bring Wakanda to life–and then moves there permanently.
Oh, look. Heels Up Harris is pretending to be black again.
And I bet she’s never read a comic book in her life, much less one with the Black Panther in it.
I always thought it was funny that Progressives attacked Trump for wanting a beautiful, racially homogeneous. country, that would be super successful, because it was surrounded by a big, beautiful wall. That is the story line of Wakanda.
Most Progressives I know are anything but…lol.
Visit Oakland or other big Democrat cities and see Wakanda come to life.
“Wakanda forever!” Haw, haw.
That last movie flopped. I assume it had a woman as the Black Panther, and that shit only works in comic books. Acrually, it doesn’t even work there.
Watch the ROK Korean TV series, “The Silent Sea,” for some good viewing.
I loved the Black Panther when I was a kid.