Well, 2024 has already been a HUGE year for Disney, and we’re just getting started.
©Disney
During the Q1 2023 earnings call in February, we learned more about how the streaming business has been doing, how profitable the parks have been, and more. Well, Disney CEO Bob Iger will soon be participating in the Morgan Stanley Technology, Media, & Telecom Conference, and he will be part of a question-and-answer session. So what will Iger discuss? Here’s what we’re predicting.
Streaming
Disney’s streaming services are about to become a hot topic. This is the month when Hulu and Disney+ are officially merging into one streaming service (at least for those who subscribe to both), although the program has already been in beta testing mode since December. We expect Iger to talk about how he expects that to impact streaming, especially as streaming is still his #1 priority at the company.
©Disney
However, we might also expect some questions about Disney’s partnership with ESPN, Fox, and Warner Bros. to create a sports streaming service. That service has come under some scrutiny recently, and this merger could violate federal law. Fubo TV is also now set to sue Disney, Fox, and Warner Bros. Discovery over this recently announced joint venture. We may very well see what Iger has to say about that lawsuit and the criticisms the company is facing over the partnership.
Here’s more about that lawsuit
Proxy Battle
Another thing Iger is bound to get questioned about is the proxy battle the company is facing with activist investor Nelson Peltz, who is petitioning for a seat on The Walt Disney Company’s Board of Directors. Peltz has spoken out in criticism about many of Disney’s decisions, including the decision to buy Fox in 2019.
Nelson Peltz ©Reuters
Recently, the grandchildren of both Walt and Roy Disney have spoken out against Peltz and other activists seeking board positions with the company, saying “these activists must be defeated.” They also expressed support for Iger. Iger responded by commenting that he works with a “deep sense of respect for everything Walt and Roy created” and that it was “incredibly meaningful” to have the support of the Disney family. We’re anticipating some new comments on the issue ahead of the company’s shareholder meeting on April 3rd.
More about the Disney family’s comments
We’ll certainly be paying attention when the Morgan Stanley Technology, Media & Telecom Conference livestreams on March 5th at approximately at 1:15PM ET. We’ll be covering everything, so stay tuned to DFB for more.
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The problem with Nelson Pletz is that he wants to make too many radical changes and run Disney on the cheap. Just like his disgruntled buddy, former Disney/Marvel Ike Perlmutter.