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☆ Disney, Challenged Elsewhere, Plans to Spend $60 Billion on Parks and Cruises
▼ + stars: | 2023-09-19 | by ( Brooks Barnes | More About Brooks Barnes | ) www.nytimes.com time to read: +2 min

Disney’s theme parks will generate an estimated $10 billion in profit this year, up from $2.2 billion a decade ago. Disney’s overseas parks — aside from Tokyo Disney Resort, which it receives royalties from but does not own — have sometimes struggled to turn a profit. That amount is double what Disney spent on parks and the cruise line over the past decade, which was itself a period of greatly increased investment. Disney has also poured money into its Paris and Hong Kong parks, with themed expansions tied to “Frozen” and other Disney films scheduled to open soon. Three more ocean liners are on the way, bringing the Disney fleet to eight ships, and Disney is nearing completion of a new port on a Bahamian island.

Persons: Robert A, Iger, Ron DeSantis, Disney, ” Organizations: Walt Disney, Tokyo Disney Resort, Disney Cruise, Disney, Shanghai Disney Resort, Guardians, Galaxy Locations: Anaheim , Calif, Orlando, Fla, Tokyo, Shanghai, Paris, Hong Kong

☆ Disney hikes streaming prices, focuses on costs as Iger moves to reassure investors
▼ + stars: | 2023-08-10 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +5 min

Disney also posted quarterly revenue below expectations and fell slightly behind analyst projections for U.S. subscribers of Disney+. A sign is shown at one of the entrances to Disney Studios in Burbank, California, U.S., July 25, 2023. It added 800,000 Disney+ subscribers, 100,000 subscribers shy of analyst estimates, and shed 12.5 million subscribers to the Disney Hotstar service in India, or nearly a quarter of its subscribers, as it gave up rights to Indian Premiere League cricket matches. Disney's direct-to-consumer business reported a 9% increase in revenue to $5.5 billion, as the average revenue per subscriber rose at Disney+ and Hulu. The unit had lower operating income at its domestic parks, due to decreases at Walt Disney World Resort in Orlando, Florida.

Persons: Walt Disney, Bob Iger, ’, “, I've, ” Iger, Wall, Iger, Mike Blake, Jesse Cohen, Dawn Chmielewski, Chavi Mehta, Aditya Soni, Peter Henderson, Sayantani Ghosh, Matthew Lewis Organizations: ESPN, Disney, Hulu, Netflix, Disney Studios, REUTERS, Indian Premiere League, Investing.com, Shanghai Disney Resort, Walt Disney World, Thomson Locations: Hollywood, Europe, Canada, Burbank , California, U.S, India, Disney's, Orlando , Florida, Los Angeles, Bengaluru

☆ Disney cost cuts exceeding targets but quarterly revenue misses
▼ + stars: | 2023-08-09 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +4 min

The entertainment conglomerate also said it fell slightly behind analyst projections for U.S. subscribers of Disney+. It added 800,000 Disney+ subscribers, 100,000 subscribers shy of analyst estimates, and shed 12.5 million subscribers to the Disney Hotstar service in India, or nearly a quarter of its subscribers, as it gave up rights to Indian Premiere League cricket matches. Disney's traditional television business continued its decline, with lower revenue and operating income across the company's broadcast and cable TV business. TV revenue for the quarter decreased 7% to $6.7 billion, while operating income fell 23% to $1.9 billion. Disney's direct-to-consumer business reported a 9% increase in revenue to $5.5 billion, as the average revenue per subscriber rose at Disney+ and Hulu.

Persons: Mike Blake, Walt Disney, Bob Iger, Iger, Disney, Strange, Disney's, Dawn Chmielewski, Chavi Mehta, Aditya Soni, Peter Henderson, Sayantani Ghosh, Matthew Lewis Organizations: Disney Studios, REUTERS, Disney, Indian Premiere League, Hulu, Guardians, Shanghai Disney Resort, Walt Disney World, Thomson Locations: Burbank , California, U.S, India, Orlando , Florida, Los Angeles, Bengaluru

☆ Disney World has a bigger problem than Ron DeSantis: people aren't going
▼ + stars: | 2023-07-11 | by ( Cork Gaines | ) www.businessinsider.com time to read: +5 min

Disney's ongoing feud with Ron DeSantis is certainly a factor. Ron DeSantis, it's pretty clear that the park's problems run deeper than a political beef. While crowd sizes are down in the US parks, revenue is up at international Disney parks such as Disneyland Hong Kong. Despite the DeSantis dust-up, the park's biggest issue has nothing to do with politics — Disney World is damn expensive. Ron DeSantis Paul Hennessy/SOPA Images/LightRocket via Getty ImagesIt's also clear that a cut back on vacationing is not the issue.

Persons: Ron DeSantis, Disney execs, Li Zhihua, execs, DeSantis, —, Ron DeSantis Paul Hennessy, Courtney Garcia, Garcia, Samantha Delouya, Bob Iger Organizations: Disney, Service, Walt Disney, Florida Gov, Wall Street Journal, Hollywood Studios, Shanghai Disney Resort, Hong Kong Disneyland, China News Service, — Disney, Getty, TSA, Payne Capital Management Locations: Wall, Silicon, Magic, Shanghai, Paris, Hong, Hong Kong, Florida

In this article DIS Follow your favorite stocks CREATE FREE ACCOUNTIt's been 17 years since my last trip to Disney World. But if you're an infrequent visitor, traveling with young kids or uninterested in diving into the world of Disney blogs, buying access to shorter lines is your best bet. You may be on vacation, but a trip to Disney World is no time for a digital detox. Jonathan Alder called VIP tours at Disney World "the greatest thing." Buy the bandsMagicBands are part of the ever-growing list of formerly free items that are now chargeable at Disney World.

Persons: Rafael Henrique, —, Peter Pan, Jonathan Alder Organizations: Disney, CNBC, Lightning, Jonathan's

☆ Fact Check-Disney is not replacing all US flags with Pride flags this June
▼ + stars: | 2023-05-26 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

Disney World is not replacing all U.S. flags at its park with Pride flags during the month of June contrary to claims on social media that originated from a satire account. The narrator of the video can be heard saying, “Disney World is replacing all American flags with the pride flag. It will only be done throughout June to celebrate Pride month. In fact, Disney will have a Pride flag retreat at 5 o’clock every day to the song ‘I Will Survive’. Disney World is not replacing all the U.S. flags on its property with pride flags for the month of June.

☆ China's recovery lifts U.S. companies' sales as domestic consumers pull back spending
▼ + stars: | 2023-05-14 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

U.S. companies are reporting that demand in China is returning, boosting their sales at a time when many U.S. consumers are pulling back their spending. Starbucks reported that its same-store sales in China rose 3% in its latest quarter, reversing their declines. Some Wall Street analysts were still anticipating shrinking same-store sales for the company's second-largest market. That quarter, Starbucks' same-store sales in China sank 23%. Yum China , Yum Brands' master franchisee in China, also said its same-store sales grew 8% in the first quarter.

☆ Here’s how much money you’d have if you invested $1,000 in Disney 10 years ago
▼ + stars: | 2023-05-11 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Disney is bringing back two fan favorites in order to "improve the guest experience" at its Florida parks, the company said. Starting Jan. 9, 2024, date-based tickets, the Walt Disney World Resort's standard ticket option, will no longer require guests to make an additional reservation at specific theme parks. However, a theme park reservation may still be required for other admission types, including non-dated tickets, Disney said. Additionally, beginning Jan. 9, 2024, Disney is bringing back its popular dining plan option for guests who stay at Disney Resort hotels and purchase vacation packages with the company. Theme parks accounted for about $5.5 billion of that revenue.

[1/3] A man looks at his phone as he passes by a screen advertising Walt Disney's streaming service Disney+ in New York City, U.S., November 12, 2019. The division ended the quarter with an operating loss of $659 million, compared with $1.1 billion in the prior quarter. At the same time, total subscribers to the flagship Disney+ service dropped by 4 million to 157.8 million. Inge Heydorn, a fund manager at GP Bullhound, said a question for investors is: "are the trade offs from lower marketing costs leading to lower subscribers?" "We've only just begun to scratch the surface of what we can do with advertising on Disney+," Iger said on a conference call with analysts.

The company plans to expand its streaming offerings by the end of the year with a new app that combines Disney+ and Hulu, Chief Executive Bob Iger said. Total subscribers to the flagship Disney+ service dropped by 4 million from the previous quarter to 157.8 million. Most of the defections came from the Disney+ Hotstar offering in India after it lost streaming rights to Indian Premier League cricket matches. "Striking a fine balance between customer acquisition versus financial performance is no easy feat." As Disney tries to build streaming, its traditional television business faces hurdles.

☆ Disney’s Losses From Streaming Narrowed in the Last Quarter
▼ + stars: | 2023-05-10 | by ( Brooks Barnes | ) www.nytimes.com time to read: +1 min

To understand the forces that have been roiling the biggest media companies, look no further than Disney’s earnings. Disney said on Wednesday that losses in its streaming business for the most recent quarter totaled $659 million, an improvement from a year earlier (and a vast improvement from the October-to-December period, when losses totaled $1.1 billion). Streaming revenue climbed 12 percent, reflecting a sharp increase in revenue per paid Disney+ subscriber, a metric investors watch closely. Disney’s linear networks (ESPN, Disney Channel, ABC, National Geographic, FX) reported $1.8 billion in operating income, down 35 percent from a year earlier. Operating profit in the company’s Parks, Experiences and Products division climbed 22 percent, to $2.2 billion, as Disney resorts in Shanghai and Hong Kong finally began to recover from the pandemic.

☆ Disney aims for more profits at Disney+ with more ads, less content, higher fees
▼ + stars: | 2023-05-10 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

New York CNN —Disney laid out the profit plan for Disney+ streaming service on its investor call after reporting its most recent quarterly results, and it’s likely not going to make its customers very happy. It entails cutting back on the content offered, selling more ads and charging higher subscription fees. The company’s ongoing efforts to trim losses and begin to make profits on its streaming business could disappoint some of the people who have enjoyed Disney+, however. “It’s critical we rationalize the volume of content we’re creating and what we’re spending to produce our content,” Iger said about the cuts to the streaming service. Iger said Disney is still learning the proper business model for streaming as it makes the transition.

☆ Disney's quarter reflects what we knew all along about Bob Iger's turnaround plan. Here's our earnings analysis and what's next
▼ + stars: | 2023-05-10 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Botton line We've been saying for weeks that fiscal Q2 was not the one to rush in and get in ahead of. Not represented in the table, the Q2 loss was also smaller by $400 million quarter over quarter. Furthermore, management acknowledged churn could be a potential issue for one more quarter before returning to domestic sub-growth in the fiscal fourth quarter. As for theme park sales, this profitable growth engine remains in great shape, jumping nearly 38% to $6.76 billion in fiscal Q2. Iger's Strategy Updates Alongside fiscal Q2 results, we got some more news on the strategic changes Iger has for the company, about six months into his return as CEO.

☆ GOP lawmaker leading Florida legislature's effort to rein in Disney was a company stock-holder until the DeSantis feud
▼ + stars: | 2023-04-21 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +11 min

One key ally, Sen. Blaise Ingoglia, previously held Disney stock but said he sold on principle. Ron DeSantis claw back control of Walt Disney World's special tax district was once a Walt Disney Company investor, annual disclosures show. Ingoglia told Insider that he manages his stocks himself, and that they were long-term holds with a retirement or brokerage account. The financial ties to Disney underscore the company's largess and influence in Florida, where it's the state's biggest attraction. Disney CEO Bob Iger told Time he would be willing to sit down with DeSantis over the feud.

☆ Disney Lays Off More Than 300 Streaming-Focused Employees in China
▼ + stars: | 2023-03-29 | by ( Jessica Toonkel | Joe Flint | ) www.wsj.com time to read: 1 min

The $5.5-billion Shanghai Disney Resort is among Disney’s biggest amusement parks in the world. Walt Disney Co. has laid off more than 300 employees in Beijing who worked on its streaming services, according to people familiar with the situation, part of a cost-cutting and restructuring effort at the entertainment company. The layoffs in China come as Disney this week started carrying out the first wave of cuts in a previously announced plan to slash 7,000 jobs.

☆ A week in Hawaii on vacation with my toddler cost $4,500, and she'll never remember it. Here's why I'm glad we went anyway.
▼ + stars: | 2023-01-28 | by ( Emily Hochberg | ) www.businessinsider.com time to read: +2 min

I ruled out my first island choice, Maui, and decided on Oahu as it was more affordable. Emily Hochberg/InsiderI've spent time on Maui before and love it for the variety of activities and ample natural beauty. But a standard room in a four-star hotel cost nearly $1,000 per night when I searched on Google a few months in advance. On Oahu, in Honolulu, on the other hand, I found standard hotel rooms for around $250 to $300 per night on Google. I could book a one-bedroom suite there for the same price as a standard room on Maui.

☆ China's recovery may mean the Fed will have to hike rates longer
▼ + stars: | 2023-01-19 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

SHANGHAI, CHINA - Tourists pose for a photo at the Shanghai Disney Resort as the resort kicked off a month of festivities from January 13 to February 10 to celebrate the upcoming Chinese New Year. As the end of China's stringent Covid restrictions quickens the country's economic recovery, concerns about pent-up Chinese demand — and the inflation that may follow — could mean bad news for the U.S. Federal Reserve. "In our view ... a stronger China increases the chances of a stubbornly hawkish Fed," Tavis McCourt, institutional equity strategist at Raymond James, said in his 2023 Outlook. With activity expected to pick up from China, demand for a variety of commodities will drive , McCourt said. "Demand is going to come back really quickly."

[1/5] People wait to purchase medicine at a pharmacy, amid the coronavirus disease (COVID-19) outbreak, in Beijing, China December 16, 2022. REUTERS/Xiaoyu YinBEIJING/SHANGHAI, Dec 17 (Reuters) - Funeral homes across China's COVID-hit capital Beijing, a city of 22 million, scrambled on Saturday to keep up with calls for funeral and cremation services as workers and drivers testing positive for the novel coronavirus called in sick. In Beijing, which has yet to report any COVID deaths since the policies changed on Dec. 7, sick workers have hit the staffing of services from restaurants and courier firms to its roughly one dozen funeral parlours. "We've fewer cars and workers now," a staffer at Miyun Funeral Home told Reuters, adding that there was a mounting backlog of demand for cremation services. China's health authority last reported COVID deaths on Dec. 3, in Shandong and Sichuan provinces.

☆ As China grapples with rare protests, Shanghai Disneyland shuts over Covid curbs once again
▼ + stars: | 2022-11-29 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +2 min

Hong Kong CNN Business —Shanghai Disneyland has been closed again because of China’s Covid restrictions, just days after reopening following a previous pandemic-related closure. Shanghai Disneyland had just reopened on November 25 after a pandemic-related closure on October 31, according to a notice from Shanghai Municipal People’s Government on November 26. Disneytown, Wishing Star Park and Shanghai Disneyland Hotel reopened earlier on November 17, but November 25 marked the resort’s return to full operations after the closure on October 31, according to the notice. Shanghai Disneyland had also taken a three-month hiatus earlier this year. The decision to close Disneyland once again comes following nationwide protests over the weekend in a rare show of dissent against the ruling Communist Party.

☆ I'm a Disney World expert who runs my own travel agency. Here are my best tips for an affordable — and headache-free — trip to the parks.
▼ + stars: | 2022-11-29 | by ( Julie Halpert | ) www.businessinsider.com time to read: +8 min

I've been to Disney World more than 50 times, and I go to Disneyland every few weeks. The first time I went to Disney World was when I was nine months old. I became an expert in planning Disney trips not just through my own excursions but by planning vacations for friends and family who asked for help. I plan trips for all Disney destinations, including Disney World, Disneyland, Disney Cruise Line, Aulani, and Adventures by Disney. Planning Disney trips was a side hustle that became a full-time careerMertzman with Minnie Mouse.

☆ China revises COVID guidelines for entertainment venues
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +1 min

The Ministry of Culture and Tourism issued the revised guidelines to travel agencies, entertainment and performance venues. A government statement said local administrators should improve the accuracy of their prevention and control measures and should not shut down entertainment venues down at will. The specific measures are mostly in line with China's latest easing of COVID rules, but could be a bright spot for entertainment and tourism firms that have been hammered by a near three-year strict zero-COVID policy. Places such as KTVs, internet cafes and offline board game venues are allowed to operate under normalised COVID prevention rules in low risk regions, which means as long as they apply certain COVID prevention rules, they can open their business as usual, according to the government. Reporting by Albee Zhang, Bernard Orr; Editing by Shri Navaratnam & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

☆ Shanghai Disney to re-open parts of resort but keep main park shut
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: 1 min

Nov 16 (Reuters) - The Shanghai Disney Resort said it would open some parts of the resort from Thursday, but the main Disneyland park would stay shut until further notice. "Disneytown, Wishing Star Park and Shanghai Disneyland Hotel will resume operations on November 17, with hotel reservation services restarting today," the resort said on Wednesday. "Shanghai Disneyland will remain temporarily closed until further notice," the statement added. "Toy Story Hotel will also remain temporarily closed." The resort was closed on Oct. 31 after a visitor tested positive for COVID-19.

"It would become a testing point regarding the government’s determination to push for the relaxation of COVID control measures," they said. China reported 17,772 new local COVID-19 infections for Nov. 14, up from 16,072 new cases a day earlier and the most since April, with major cities including Chongqing and Zhengzhou among the worst-hit. On Monday, Beijing's most populous district of Chaoyang, where most of its cases are located, moved some testing sites closer to residential compounds. On Tuesday, state broadcaster CCTV said Chaoyang district was adding more testing sites, including near office buildings. Under China's new rules, testing efforts are to be more targeted, easing what has been a significant financial burden on cities.

☆ China's services activity skids in October on COVID restrictions - Caixin PMI
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Thomas PeterBEIJING, Nov 3 (Reuters) - China's services activity contracted again in October as COVID-19 containment measures hit businesses and consumption, overshadowing the economic rebound in the last quarter, a private-sector business survey showed on Thursday. An official survey on Monday also showed services activity, which relies more on face-to-face interactions, fell into contraction territory in October from expansion in the month prior. Surprisingly, the survey showed that efforts to expand staffing capacity and enhance sales capabilities led to a rise in employment across the service sector. read moreCaixin's composite PMI, which includes both manufacturing and services activity, dropped to 48.3 in October from 48.5 the previous month, marking the lowest since May. The Caixin PMI is compiled by S&P Global from responses to questions sent to purchasing managers in China.

☆ China's Oct factory activity shrinks as COVID curbs hit output, demand - Caixin PMI
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +3 min

The Caixin/S&P Global manufacturing purchasing managers' index (PMI) stood at 49.2 in October, up from 48.1 in September and slightly above analysts' expectations for 49.0. In line with China's official PMI, which unexpectedly fell into contraction last month, waning factory activity weighed on the fragile recovery of the world's second-biggest economy amid a deepening property crisis and weakening demand. The softer activity continued to pressure the labour market as the manufacturing employment fell for the seventh month in a row. "In particular, the spread of the coronavirus in many regions significantly restricts both supply and demand," Wang said. The Caixin manufacturing PMI centres on small firms and coastal regions where sit a great number of exporters.

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