food IS a theme park
Disney recently held its Q1 2024 earnings call this week, and we got some pretty big announcements.
ESPN feature at CES 2024
First, we learned how the Disney Parks were doing financially. We also learned about how Disney’s streaming services were doing. Disney also announced a new alliance with Fox and Warner Bros. for a brand-new sports streaming service. Well, one cable group is now calling for the Justice Department to review that alliance and service.
When visiting Disney World is your full-time job and you’re there almost as much as you’re in your own house, you start to pick up on some warning signs.
Welcome to Magic Kingdom!
Yep, we’re talking about warning signs that there could be BIG crowds soon. February is what many take for a slower season at Disney World, inspiring an influx in tour groups, field trips, and sports groups. This weekend marks no exception, as a big competition is happening in Orlando!
Disney is working on a NEW streaming service and some big details have been released.
©ESPN
Disney has quarterly earnings calls each year, and in them, they discuss how the company has been performing and what their goals are for the year/the upcoming quarter. They also often give updates on what’s next. In the company’s 2023 Q4 earnings call, they shared that they had massive plans for ESPN, and now we’re starting to see that those plans are taking shape!
A brand new sports streaming service is coming to your phone and other devices soon!
©ESPN
A huge announcement came from the Walt Disney Company on February 6th indicating that we’ll soon get to watch the majority of sports entertainment from one streaming app! This will make life much simpler when trying to catch the latest games. Instead of needing multiple subscriptions and cable TV, you’ll soon be able to simply tune in to one app for most of your favorite games. While we know this is coming, there’s a big question mark still hanging in our minds — how much is this new streaming app going to cost us?
For a while now, we’ve been waiting for Disney to make a big business move.
ESPN Wide World of Sports
Disney’s had some problems with streaming over the past few years, but particularly with ESPN+. The service hasn’t been as successful as it could be, even though there’s a high demand for sports entertainment. But now, Disney finally seems to have the solution — and it involves some other major players.
Disney’s first big milestone of 2024 is coming up!
Disney World
As one of the largest and most influential companies IN THE WORLD, Disney’s financial and operational status is not only fascinating but bears a significant trickle-down effect. From its influence in the streaming platform space to the financial well-being of the Disney Parks, if you like to stay in the know on all things Disney, you should know about the Walt Disney Company’s first earning report and call of 2024 happening February 7th!
It’s no secret that Disney CEO Bob Iger has shifted his focus to streaming.
©Disney
Throughout 2023, Iger referred to streaming (and the restructuring within the company to focus on streaming) as his number one priority. He believes that the answer to returning to the top of the pyramid of media giants lies within Disney+, ESPN+, and direct-to-consumer marketing within those platforms. It seems that investor Nelson Peltz seems to somewhat agree.
Disney has been focusing a lot of its efforts recently on expanding ESPN.
©ESPN
During Disney’s Q3 2023 financial earnings call, one of the company’s key points was “building ESPN into the preeminent digital sports platform.” The company has already moved forward with ESPN Bet, a new sportsbook betting service. The company is also working on CEO Bob Iger’s #1 priority, streaming, which includes ESPN+. A new deal with the NCAA will help Iger in achieving that goal.
As one of the most predominant media companies in history, The Walt Disney Company has been no stranger to news headlines.
©Disney
However, since the COVID-19 pandemic launched the world into a time of uncertainty — and, in many cases, loss — Disney has been in the headlines a bit more frequently as they continue to branch in new directions, expand their parks, and attempt to make profit again. At the start of the pandemic, the company was headed by Bob Chapek, who was replaced in 2022 by the current (and former) CEO — Bob Iger. Going into 2024, four years after pandemic-related closures, Iger has some BIG changes to make to keep the company headed in the right direction.
The future of The Walt Disney Company lies within streaming.
Disney World
At least, that’s what Bob Iger said when he shared that streaming and transforming Disney+ was his main priority as he continues his leadership as the CEO of Disney. At the final quarterly earnings call of 2023, Iger shared that Disney+ increased domestic subscribers by 7 million, and the company is set to profit from the platform for the first time since before the pandemic by the end of 2024. Disney+ isn’t the only thing on Disney’s radar, though, as they recently acquired the remainder of shares in Hulu, and could branch out further. Now, folks are making predictions regarding the future of streaming — and we found some of them to be interesting.
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