New Lightning Lane Access Plan to Debut at Walt Disney World on July 24

 by Beth Keating

News

DisneyBizJournal.com

June 25, 2024

 

That scream you just heard was probably me from miles away from Disney World, tearing my hair out over today’s announcement that Disney’s Genie+/Lightning Lane/skip the line access plan will be changing yet again.  And while it’s being touted as simplifying the program…. I’m not sure my friends and family see it that way.  

For people who don’t come to Disney often – as in, for some of them it’s a once in a lifetime trip, and for other family members, it’s a once every 15 years trip – it’s again making the planning of a trip more convoluted. I can’t begin to tell you how many incoming guests I’ve had to explain the system to over the past few years, and try and walk them through it.  The verbiage alone has overwhelmed some of them, and they’ve just turned their phone over to us and said, “Please handle it.”

For those of you who haven’t been to the parks in a while, Lightning Lanes are the descendants  of the old, free FastPass and Fastpass+, and a way to pay to skip the longer stand-by lines. Individual Lightning Lanes are the pass for specific, individual attractions. There are only one or two of those in each park.  

 

More than a year ago, Disney touted the fact that they would be updating the system, and now, the modifications are here.

Of the new changes, Disney says, “On July 24, Walt Disney World will introduce new, simpler names to provide more clarity for everyone. Disney Genie+ service will become Lightning Lane Multi Pass, while individual Lightning Lane will now be known as Lightning Lane Single Pass.”

   
Those are Genie’s simpler names?  Alrighty, then.

 

The big bonus, and one that park guests have been begging for, is the ability going forward to make reservations for rides ahead of time, pre-booking attractions up to a week out for hotel guests, and three days out for off-site guests, rather than at 7 a.m. the day of your visit, as Genie+ currently allows. You can also choose your ride times with the new system.

 
In short, the Genie+ service where you book multiple rides throughout the day will now be called “Lightning Lane Multi Pass,” and the Individual Lightning Lane purchases (i.e., the “fancy rides” that you book à la carte, one at a time like Tron) will become “Lightning Lane Single Pass.”

Pricing will continue to vary by date, attraction and park.

Disney also dropped a YouTube video of how to tackle the new changes.

According to Disney, here’s how Lightning Lane passes will be changing,  beginning July 24:

   

Lightning Lane Multi Pass    

 

When you purchase Lightning Lane Multi Pass, you may make up to 3 Lightning Lane selections in a theme park, in advance of your visit. You’ll also be able to choose available times as you make your selections.

  

On the day of your visit, once you use a selection, check the My Disney Experience app for availability to make an additional selection.

  

Lightning Lane Single Pass  

   

Lightning Lane Single Pass will work much like it does today, where you can secure a time to ride one of our most highly demanded attractions, but you’ll now be able to make your purchase and plan in advance.  

     

How to Plan Ahead 

 

Guests staying at a Disney Resort hotel and other select hotels will be able to plan Lightning Lane passes up to 7 days in advance, for their entire stay (up to 14 days). All other guests can plan up to 3 days in advance. 

 

These advance purchase windows will let guests secure some of their must-do rides and experiences after they’ve had some time to decide what dining reservations they want to book and any other plans they may need to consider. 

 

Guests may purchase a Lightning Lane Multi Pass, a Lightning Lane Single Pass or both. The app will also be updated to make it quicker and easier to purchase and plan, with fewer steps and a new option to purchase Lightning Lane Single Pass and Lightning Lane Multi Pass in one transaction.

 

Lightning Lane passes will blend features from our current services and the previously offered FastPass+ service, giving guests the choice to plan ahead and removing the hassle of planning during their vacation.  

 

To dive into even more details, visit our website for the latest information on how to purchase, select and use your Lightning Lane passes.

 

Disneyland Resort will also use the new Lightning Lane Multi Pass and Lightning Lane Single pass names beginning July 24. Based on the different ways we know guests visit Disneyland Resort, the way guests purchase, select and redeem Lightning Lane passes at Disneyland Resort will remain the same. 

   

The complimentary features of Disney Genie service will continue to be available in the My Disney Experience and Disneyland apps. As you may have noticed, both apps have also gotten a series of upgrades over the last year to make features easier to use, including making dining reservations, mobile food ordering, and more.

     

__________

 

Beth Keating is a theme parks, restaurant and entertainment reporter for DisneyBizJournal.

 

Get The Disney Planner: The TO DO List Solution by Ray Keating. More information at

https://raykeatingbooksandmore.com/shop/ols/products/disneyplanner.  A PDF version is available here.  And please listen to the Daily Dose of Disney with Ray Keating podcast. 

Disney’s Strong Earnings Report and Outlook

 by Ray Keating

News/Analysis

DisneyBizJournal.com

February 7, 2024

 

Disney surprised the markets with a strong earnings report today, along with a boatload of announcements. Indeed, the first quarter 2024 earnings report was one to be appreciated by stockholders.

Let’s get to what I see as the key takeaways, and there are a good many.

 

First, diluted earnings per share (EPS) excluding certain items jumped by 23 percent versus the same period last year – from $0.99 to a $1.22. For good measure, Disney offered some rare earnings guidance, projecting that full year fiscal 2024 EPS excluding certain items would increase by at least 20 percent versus 2023, to approximately $4.60.

 

Second, the company announced a 50 percent increase in its semi-annual dividend to $0.45 per share, which will be distributed in July.

 

Third, Disney also announced a stock buyback of $3 billion during the current fiscal year, with further buybacks seemingly slated for the future.

 

Fourth, the company was bullish on its cost savings and efficiency undertakings, noting that it would hit or exceed the previously announced $7.5 billion cost savings for the year.

 

Fifth, the company confirmed, once more, that it was on track to arrive at streaming profitability by the end of the current fiscal year. CFO Hugh Johnston pointed out that the objective on the streaming front is to achieve double-digit margins. According to Johnston, the path to such levels of profitability lies with growing subscriptions via paid sharing (which got a good deal of attention), lower churn, and international growth, as well as pricing and assorted efficiencies. Iger noted that the company is “working toward” what Netflix has achieved. 

 

In terms of streaming subscriptions, Hulu saw subscribers increase by 1.2 million in the quarter. Meanwhile, as largely expected, Disney+ subscriptions decreased by 1.3 million, but Disney also projected Disney+ core subscribers to increase by 5.5 million to 6 million in the second quarter.

 

Sixth, Disney announced that it entered into a partnership with Epic Games, with a $1.5 billion equity investment in the gaming enterprise. This partnership will result in the creation of a Disney Universe existing alongside and interconnected with Epic’s Fortnite. Disney CEO Bob Iger noted the need for the company to tap into demographic trends regarding gaming, and the opportunity to leverage the company’s intellectual property (IP) accordingly. He also highlighted the opportunity in this Disney digital world to purchase digital goods and perhaps in the future physical goods.

 

Seventh, since Taylor Swift seems to be everywhere, Disney announced that her “Eras Tour” concert film will come exclusively to Disney+ on March 15, with additional content not in the original release.

 

Eighth, it was noted that 70 percent of the announced plan to invest $60 billion on parks over the coming decade will go to increased capacity, with every park location and the high seas being affected. Annual announcements are expected to come from the company each year starting in 2025.

 

Ninth, a full-slate ESPN standalone streaming option will be launched in August 2025 or the fall of that year. This ESPN streaming option will include all ESPN programming, and will integrate betting, e-commerce, stats and personalization. In addition, the previously announced streaming sports joint venture with Fox and Warner Bros. Discovery is scheduled to launch this fall.

 

Tenth, all parks were profitable in the quarter, with growth in international parks particularly strong. And it was repeated that the company is expecting to “turbocharge growth” in the parks. The cruise line got notable attention in terms of expanding opportunities. It was noted in the earnings report: “At Experiences, we generated all-time records in revenue, operating income, and operating margin in the first quarter…” As for key sources of profitability on the Experiences front for the quarter, four were highlighted: Shanghai Disneyland, Hong Kong Disneyland, the Disney cruise line, and the latest Spider-Man video game.

 

Eleventh, on the movies and franchise fronts, it was announced that the planned Moana television show was being transformed into a theatrically released movie, set for November of this year. Meanwhile, it’s hard to say if something should or should not be read into the fact that the only Star Wars movie specifically mentioned by Iger was the one featuring The Mandalorian and Grogu. For good measure, Iger noted the slowdown in production on the Marvel front, declaring that there would a “focus on stronger franchises” going forward. In addition, the forthcoming Kingdom of the Planet of the Apes movie received a fair amount of attention. It has a release date of May 10, 2024.

Iger’s assessment was summed up in a statement in the earnings report: “Just one year ago, we outlined an ambitious plan to return The Walt Disney Company to a period of sustained growth and shareholder value creation. Our strong performance this past quarter demonstrates we have turned the corner and entered a new era for our company, focused on fortifying ESPN for the future, building streaming into a profitable growth business, reinvigorating our film studios, and turbocharging growth in our parks and experiences… Looking at the renewed strength of all of our businesses this quarter – from Sports, to Entertainment, to Experiences – we believe the stage is now set for significant growth and success, including ample opportunity to increase shareholder returns as our earnings and free cash flow continue to grow.”

 

Finally, regarding the activist investor challenges facing the company with the upcoming April 3 shareholder meeting, when asked about it on CNBC, Iger declared that those individuals didn’t understand the Disney business, nor the Disney brand. He also spoke of the company “acting with a sense of urgency,” and that “all of us are optimistic.” When it came to streaming, Johnston also used the word “urgency,” that is, there is an “urgency to get to a good sustainable business.”

 

Why all the “urgency” talk? That’s what happens when activist investors lurk heading into a shareholder meeting, and people have been focusing on the under-performance of your stock.

 

In after-hours trading, at the time of this writing, Disney’s stock price was up by more than six percent.

 

__________

 

Ray Keating is the editor, publisher and economist for DisneyBizJournal.com; and author of the Pastor Stephen Grant thrillers and mysteries, the Alliance of Saint Michael novels, and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.

 

The views expressed here are his own – after all, no one else should be held responsible for this stuff, right?

 

Support the Daily Dose of Disney with Ray Keating Podcast at https://www.buzzsprout.com/1724143. Subscribe at the $8 or $10 level, and get The Disney Planner: The TO DO List Solution by Ray Keating. Remain a supporter and you'll get a FREE BOOK by Ray Keating every six months going forward. Thanks!

 

The Disney Planner: The TO DO List Solution combines a simple, powerful system for getting things done with encouragement and fun for Disney fans, including those who love Mickey, Marvel, Star Wars, Indiana Jones, Pixar, princesses and more.

 

Consider other books by Ray Keating, including…

 

• The Pastor Stephen Grant thrillers and mysteries. There are 18 books in the series now.

 

• Pre-order The Weekly Economist III: Another 52 Quick Reads to Help You Think Like an Economist. Signed books here and Kindle editions here.

 

• Order The Weekly Economist II: 52 More Quick Reads to Help You Think Like an Economist. Signed books here.  And Kindle and paperback editions here.

 

• The Weekly Economist: 52 Quick Reads to Help You Think Like an Economist. Signed paperbacks at RayKeatingOnline.com or paperbacks, hardcovers and Kindle editions at Amazon.com.

 

• Cathedral: An Alliance of Saint Michael Novel is at Amazon. 

 

• The Lutheran Planner: The TO DO List Solution combines a simple, powerful system for getting things done with encouragement, inspiration and consolation from the Christian faith.

 

• Signed editions of Ray’s books are at www.raykeatingbooksandmore.com. 

 

Also, check out Ray’s podcasts – the Daily Dose of Disney, Free Enterprise in Three Minutes, and the PRESS CLUB C Podcast.

Zootopia Land Gets Opening Date at Shanghai Disneyland

 by Beth Keating

News

DisneyBizJournal.com

October 25, 2023

 

Shanghai Disneyland is gearing up to open its eighth themed land at the park, announcing a December 20, 2023, grand opening date for its highly anticipated Zootopia-themed land.  It’s the first Zootopia-themed area at any of the Disney parks, and guests will be visiting the area on the biggest day of the year for the metropolis’s residents.  Zootopia Day is the day where “predator and prey unite to celebrate the harmony of their beloved city,” and the city is in full party mode.

Courtesy of Shanghai Disneyland website

Cast members are already in the testing phase of the experiences in Zootopia, including the park’s major attraction, “Zootopia: Hot Pursuit.”

 

Hot Pursuit is a trackless ride, set after the timeline of the Zootopia movie, as guests become rookie police officers alongside Officers Judy Hopps and Nick Wilde. The ride begins with guests entering the lobby of the Zootopia Police Department for their rookie orientation. There, they are greeted by Officer Clawhauser (one of Disney’s newest and most up-to-date animatronics).

 

Suddenly, an alarm sounds, and guests hurry to an emergency briefing with Chief Bogo. A jailbreak is in progress!  Chief Bogo assigns guests to "hop on" the all-terrain cruisers to join Judy and Nick in an action-filled police chase through Zootopia’s different districts, including Tundra Town, Sahara Square, Mystic Springs Oasis, and the Rainforest District. Along the way, guests will spot many of their favorite Zootopia characters.  

Courtesy of Shanghai Disneyland website

Guests will also be able to enjoy specially-themed food and beverages at spots like Jumbeaux’s Cafe, an ice cream parlor owned by Jerry Jumbeaux, Jr.   Among the treats in the highly-detailed land will be paw-shaped popsicles, chocolate marshmallows (based on the film’s Jumbo-pop), carrot-shaped lollipops, and donuts in different sizes for small and large animals.

The Zootopia area at Shanghai promises to be a very interactive and immersive land, with features such as a “Mane Street” lined with storefronts in a variety of sizes, big and small, to serve all the different sizes of characters living in the land; and characters in the windows of the Zootopia Park Apartments interacting with each other throughout the day. You might even hear some of the animals snoring at some locations!  Bright and colorful, the detailed atmosphere will certainly make guests feel like they have stepped into the scenes of the 2016 film.

 

__________

 

Beth Keating is a theme parks, restaurant and entertainment reporter for DisneyBizJournal.

 

Support the Daily Dose of Disney with Ray Keating podcast at https://www.buzzsprout.com/1724143. Subscribe at the $8 or $10 levels, and get The Disney Planner: The TO DO List Solution by Ray Keating. Remain a supporter and you'll get a FREE BOOK by Ray Keating every six months going forward. Thanks!

Disney’s Big, Wise Investments in Theme Parks

 by Ray Keating

News/Analysis

DisneyBizJournal.com

September 19, 2023

 

Theme parks are cash cows for The Walt Disney Company. As stated by the company, “Disney’s Parks business is a key driver of value creation for the company…” 

 

Therefore, it’s not surprising that Disney announced today a vastly expanded investment commitment to double its projected capital expenditures in its Parks, Experiences and Products segment to $60 billion over the coming decade.

The commitment will cover “expanding and enhancing domestic and international parks and cruise line capacity.”

 

Given stepped up competition from Universal and others in the theme park and broader entertainment industries, critics might say that Disney was a bit late in stepping forward with this. 

 

In the Disney statement, it was noted: “Already, new Frozen-themed lands are coming to Hong Kong Disneyland, Walt Disney Studios Park in Paris and Tokyo Disney Resort, as well as a Zootopia-themed land at Shanghai Disney Resort. However, Disney will explore even more characters and franchises, including some that haven’t been leveraged extensively to date, as it embarks on a new period of significant growth domestically and internationally in its parks and resorts.”

 

As for potential scale, Disney pointed out that “there is significant room for further expansion on land and at sea. In fact, Disney Parks has over 1,000 acres of land for possible future development to expand theme park space across its existing sites – the equivalent of about seven new Disneyland Parks.”

 

And in terms of market size, the company noted: 

 

“Today, Disney has seven of the top ten most attended theme parks in the world, including Walt Disney World’s Magic Kingdom Park, which has been the #1 attended theme park on earth for decades. Disney Parks welcome approximately 100 million guests each year. Yet there is still enormous untapped potential for reaching more consumers. According to Disney’s internal research, there is an addressable market of more than 700 million people with high Disney affinity it has yet to reach with its Parks. In fact, for every one guest who visits a Disney Park, there are more than ten people with Disney affinity who do not visit the Parks.”

 

Disney is hosting an investor summit today at Walt Disney World, and more information will be forthcoming at the close of this meeting, according to the company.

 

Much of the future of Disney is about streaming and theme parks, along with cruise ships, movies and ESPN/sports, of course. And as always, Disney is about synergies among these endeavors, and so much of that synergy is evident in its parks and on its cruise ships. After some stagnation, the company seems ready to make investments to serve current fans (or guests, in Disney-speak) and future ones. This is much-needed, clarifying news from a company recently stuck in a fog. Naturally, though, the devil is in the details and the execution.

 

__________

 

Ray Keating is the editor, publisher and economist for DisneyBizJournal.com; and author of the Pastor Stephen Grant thrillers and mysteries, the Alliance of Saint Michael novels, and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.

 

The views expressed here are his own – after all, no one else should be held responsible for this stuff, right? (Keating is a Disney shareholder.)

 

Support Ray’s Kickstarter Campaign – “7 Exclusive Novels from Ray Keating – Limited-Release Thrillers, Mysteries, Historical Fiction and a Pinch of Science Fiction.” Get started on and/or don’t miss any Pastor Stephen Grant and Alliance of Saint Michael novels, and make sure you’re in on new series. Get all of the information for this Kickstarter at https://www.kickstarter.com/projects/raykeatingnovels/7-exclusive-novels-from-ray-keating.   

 

Consider books by Ray Keating, including…

 

• The Pastor Stephen Grant thrillers and mysteries. There are 18 books in the series now.

 

• Order The Weekly Economist II: 52 More Quick Reads to Help You Think Like an Economist. Kindle editions and paperbacks via Amazon here and signed books here. And don’t forget the first book in this growing series, i.e., The Weekly Economist: 52 Quick Reads to Help You Think Like an Economist at Amazon.com.

 

• Cathedral: An Alliance of Saint Michael Novel is at Amazon. 

 

• The Lutheran Planner: The TO DO List Solution combines a simple, powerful system for getting things done with encouragement, inspiration and consolation from the Christian faith.

 

• Signed editions of Ray’s books are at www.RayKeatingOnline.com.

 

Also, check out Ray’s podcasts – the Daily Dose of Disney, Free Enterprise in Three Minutes, and the PRESS CLUB C Podcast.

Investors Not Happy with Disney After Earnings Report

 by Ray Keating

Analysis

DisneyBizJournal.com

May 11, 2023

 

Well, investors aren’t seeing much magic in Disney at the moment.

 

At first glance, Disney’s earnings report released on May 10 based on the quarter ending April 1 was, at worst, mixed. Earnings per share came in as widely expected in the market, and revenue actually ran slightly ahead of where expectations were.

Courtesy of Google.com

Also, the theme parks did very well, with the company’s Disney Parks, Experiences and Products segment posting a 17 percent increase in revenue compared to the same quarter last year, while the segment’s profits grew by 23 percent.

 

And Disney’s direct-to-consumer, or streaming, losses were narrower than expected, and were moving in the direction the company said they would. DTC revenues increased by 12 percent, and operating losses went from $0.9 billion to $0.7 billion.

 

But these general positives, so far, have been outweighed by negatives now, and concerns looking ahead.

 

For example, the number of Disney+ subscribers declined by four million (from 161.8 million at the end of 2022 to 157.8 million as of April 1, 2023). Of those losses, the domestic tally was -300,000. With the loss of cricket, a big chunk of the subscriber losses came in India. ESPN subscriptions were up slightly (24.9 million to 25.3 million) and Hulu subs inched up from 48.0 million to 48.2 million). 

 

Also, Disney’s traditional television (linear) networks saw a seven percent decline in revenue and a 35 percent decline in operating income.

 

In addition, Disney is in the midst of negotiating the purchase of the remainder of Hulu from Comcast, and plans to merge Hulu content with Disney+. There’s a significant amount of uncertainty swirling around the ultimate impact this will have on Disney.

 

As for the parks, the look ahead was less robust compared to recent performance, given the possibility of a recession, with commensurate slowing of the job market, a likely post-Disney World 50th-anniversary attendance falloff, and the evaporation of a post-COVID surge. At the same time, cost pressures likely will persist, including, ironically, on the labor front. 

 

And there is uncertainty tied to the company’s lawsuit against Florida Governor Ron DeSantis and his allies in Florida government related to Walt Disney World. To say that it’s unusual for a company to sue a governor and related entities – and a governor who wants to be president – would be a major understatement. At the same time, though, Governor DeSantis’ crusade against Disney is an unprecedented act as well, and Disney has a strong case that this is government targeting a particular company and limiting or denying the right to free speech.

 

Whether one agrees or disagrees with the position that Disney took on an education law in Florida, one cannot seriously argue with what Iger said, including: “This is about one thing and one thing only, and that's retaliating against us for taking a position about pending legislation. And we believe that in us taking that position, we are merely exercising our right to free speech… There's been a lot said about special districts and the arrangement that we had, I want to set the record straight on that too. There are about 2000 special districts in Florida.” In addition, Iger asked, “Does the state want us to invest more, employ more people and pay more taxes or not?”

 

As for what might lie ahead, Investor’s Business Daily reported the following: “For the rest of the year, consensus views see the Burbank, Calif.-based company's earnings turning higher and ending up 16% for the fiscal year and up 21% (calendar year) over 2022. Fiscal year revenue is expected to rise about 9%.”

 

It also must be remembered that Disney is in the mix of some serious restructuring, trimming jobs and costs. As Iger said, “From movies to television, to sports, news, and our theme parks, we continue to deliver for consumers, while establishing a more efficient, coordinated, and streamlined approach to our operations.”

 

Disney’s stock price closed at $101.14 on May 10, before the earnings release, and then dropped by $8.84, or 8.7 percent, per share, closing at $92.30 on May 11. 

 

__________

 

Ray Keating is the editor, publisher and economist for DisneyBizJournal.com; and author of the Pastor Stephen Grant thrillers and mysteries, and the Alliance of Saint Michael novels; and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.

 

The views expressed here are his own – after all, no one else should be held responsible for this stuff, right? 

 

Consider books by Ray Keating…

 

• The Pastor Stephen Grant thrillers and mysteries. You can order the latest book in the series – Under the Golden Dome: A Pastor Stephen Grant Novel. Get the signed books here, or paperbacks and Kindle editions right here.

 

• Pre-order The Weekly Economist II: 52 More Quick Reads to Help You Think Like an Economist. Kindle edition here and signed books here. And don’t forget the first book in this growing series, i.e., The Weekly Economist: 52 Quick Reads to Help You Think Like an Economist. Signed paperbacks at RayKeatingOnline.com or paperbacks, hardcovers and Kindle editions at Amazon.com.

 

• Cathedral: An Alliance of Saint Michael Novel. Signed paperbacks and/or paperbacks, hardcovers and the Kindle edition at Amazon. 

 

• The Lutheran Planner: The TO DO List Solution combines a simple, powerful system for getting things done with encouragement, inspiration and consolation from the Christian faith.

 

• Behind Enemy Lines: Conservative Communiques from Left-Wing New York  –  signed books  or at  Amazon.

 

•  Free Trade Rocks! 10 Points on International Trade Everyone Should Know is available at  Amazon  in paperback or for the Kindle edition, and signed books at  www.raykeatingonline.com. 

 

Also, check out Ray’s podcasts – the Daily Dose of Disney, Free Enterprise in Three Minutes, and the PRESS CLUB C Podcast.

Disney’s Earnings Improve but Disappoint Compared to Expectations

 by Ray Keating

News

DisneyBizJournal.com

November 10, 2021

 

Today, the Walt Disney Company disappointed Wall Street with its latest earnings report, including slower Disney+ subscriber growth.

 

The company reported earnings for its fourth quarter and for the fiscal year that ended on October 2, 2021. The fourth quarter adjusted earnings came in at $0.37 per share, which was short of consensus expectations running at $0.51 per share. However, earnings were up versus last year when Disney suffered a loss of $0.20 per share.

For the full year, adjusted EPS of $1.11 compared to a loss of $1.57 last year.

 

As for Disney+ subscriptions, while up for the year by 60 percent, Disney+ only gained 2 million subscribers in the fourth quarter. At the end of this past fiscal year, Disney+ subscribers came in at 118 million compared to 73.7 million at the end of the previous year (again, a 60 percent increase); ESPN+ up 66 percent, from 10.3 million to 17.1 million; and Hulu rising by 22 percent, from 36.6 million to 43.8 million.

 

Disney CEO Bob Chapek reiterated that the company expects to hit 230 million to 260 million Disney+ subscribers by the end of 2024, as well as expecting Disney+ to become profitable on the same timetable. 

 

Chapek also repeated his past declarations that streaming is central to the company’s health and that streaming is all about content. He noted that Disney is looking at a significant increase in streaming content offerings in 2022, particularly during the second half of the year. In addition, Chapek mentioned that the company would be increasing local and regional content offerings, as well as focusing on the preschool market.

 

As for the theme parks, the Disney Parks, Experiences and Products segment doubled its revenues in the fourth quarter compared to same quarter in the previous year – registering $5.45 billion in the quarter ended on October 2, 2021, compared to $2.73 billion in the quarter ended on October 3, 2020. Disney reported, “Revenue and operating income growth was due to the reopening of our parks and resorts, which were open for the entire quarter this year. In the prior-year quarter, Shanghai Disney Resort was open for the entire quarter, Walt Disney World Resort and Disneyland Paris were open for approximately 12 weeks, Hong Kong Disneyland Resort was open for approximately 4 weeks and Disneyland Resort was closed for the entire quarter. During the periods our parks and resorts were open, they were generally reduced capacities.”

 

On the parks business, Chapek declared that they were “very bullish” and expecting “strong demand.”

 

Regarding the new Disney Genie app for navigating Walt Disney World, Chapek noted that one-third of park attendees were paying for the available upgrade.

 

Finally, on the question of how Disney will deal with inflation, the response on the earnings call amounted to “we’re trying to figure this out just like other companies,” along with citing general options on the supplier, technology, and pricing fronts.

 

In after-hours trading, Disney’s stock price was down by 4.4 percent.

__________

 

Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of the Pastor Stephen Grant novels and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.

 

The views expressed here are his own – after all, no one else should be held responsible for this stuff, right?

 

Great Christmas Gift! The Disney Planner 2022: The TO DO List Solution is here! It combines a simple, powerful system for getting things done with encouragement and fun for Disney fans, including those who love Mickey, Marvel, Star Wars, Indiana Jones, Pixar, princesses and more. Also, “The Disney Planner 2022: The TO DO List Solution” comes with a handy spiral binding for easy use. 

 

Keating has three new books out. Vatican Shadows: A Pastor Stephen Grant Novel is the 13th thriller/mystery in the Pastor Stephen Grant series. Get the paperback or Kindle edition at Amazon, or signed books at www.raykeatingonline.com. Past Lives: A Pastor Stephen Grant Short Story is the 14th book in the series. Again, get the paperback or Kindle edition at Amazon, or signed book at www.raykeatingonline.com. And order the 15th book in the series What’s Lost? A Pastor Stephen Grant Short Story – grab it at Amazon.com or signed editions at www.raykeatingonline.com. 

 

Also, check out Ray’s podcasts – the Daily Dose of Disney, Free Enterprise in Three Minutes, and the PRESS CLUB C Podcast.