General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDisney is making money hand over fist
I post this to make a point: Recession? What recession? Americans are still vacationing and spending in huge numbers. Would people be spending on things like Disney if they were pulling back, losing jobs, trying to pay for food, etc? Disney has raised prices quite a bit in recent years, and pandemic fatigue is causing lots of people to vacation this year. but even with the price increases, they can still afford to park the Disney parks. Not something you would see in a recession. Thank you, president Biden!
https://www.wdwinfo.com/news-stories/the-walt-disney-company-q3-2022-earnings-call-recap/
Disney shareholders were eagerly awaiting the Q3 2022 earnings call to find out how the company is doing, and the results did not disappoint! The Walt Disney Company reported strong growth and record revenue in its Parks and Resorts division and a tremendous increase in Disney+ subscribers. Heres a recap of the recently released earnings information and what Disney CEO Bob Chapek had to say on the earnings call.
Disneys total revenue for the quarter was up 26% to $21.5 billion, and earnings per share rose to $1.09 per share. Disneys Parks and Resorts division saw a 70% increase in revenue, up to $7.39 billion, driven by higher guest spending and demand across all Disney Parks.
Disney+ ended Q3 2022 with more than 152 million global paid subscribers, adding 14.4 million in this quarter alone and significantly beating expectations by almost five million. This news comes alongside the announcement of a new ad-supported Disney+ subscription launching in the U.S. on December 8th. This new tier will be priced at $7.99 per month.
We had an excellent quarter, with our world-class creative and business teams powering outstanding performance at our domestic theme parks, big increases in live-sports viewership, and significant subscriber growth at our streaming services. With 14.4 million Disney+ subscribers added in the fiscal third quarter, we now have 221 million total subscriptions across our streaming offerings, said Bob Chapek, Chief Executive Officer, The Walt Disney Company. We continue to transform entertainment as we near our second century, with compelling new storytelling across our many platforms and unique immersive physical experiences that exceed guest expectations, all of which are reflected in our strong operating results this quarter.
SWBTATTReg
(22,156 posts)at how much the tickets were! I just hope that they haven't raised the prices for the kids too much though, so many kids do get a kick out of going.
woodsprite
(11,921 posts)We just made arrangements for next year for a visit. We planned on doing the Epcot food and wine fest for my son's 21st b'day, but then COVID and cancer got in the way. So we'll be going to the Food & Wine fest for his 23rd b'day celebration. We go about every 5 yrs for a full week to 10 day stay. See it all, come home happy but exhausted, and don't go back for another 5 yrs. I have friends that go about every 4-5 months. They don't always do the parks when they go. Sometimes they just enjoy the hotel and amenities. I miss camping and the dining plan - camping is the cheapest way to go and you still get most of the perks, and the dining plan means that you get to try some restaurants you wouldn't ordinarily try if you're watching your dollars from meal to meal.
SWBTATTReg
(22,156 posts)Coventina
(27,159 posts)Didn't one of the crazy congress-critters say the company was nothing but "groomers" leading children into sin?!?!?!
SergeStorms
(19,204 posts)I'll never understand this "woke" crap. Everyone should run around in a slumber, bouncing off everything or walking in front of speeding trains?
I'll take my chances being awake, thank you.
paleotn
(17,938 posts)Full employment in my mind. Unless this is some new kind of recession, I'd say that's not what we're in.
https://tradingeconomics.com/united-states/unemployment-rate
Brainfodder
(6,423 posts)Food was 6x cost vs. a normal fast food place.
They screwed up on Marvel Heroes Omega/Online, me too'd new CEO and due to it flushed the online only super hero ARPG game just as it was finally super praise worthy after a piss poor launch in 2014!
Not a fan any longer of Disney, the greed is just way too much.
liberal N proud
(60,339 posts)I used to travel extensively for business and frequently for pleasure. Every year I was in Vegas for a conference. In 2008, I landed in Vegas to a nearly empty airport and casinos.
I had a conversation with the taxi driver on the way from the airport. He said that it stopped overnight. One day they were busy, the next nothing. It was a month or more befor the media called it a recession.
The business I am currently in is construction related, we are still busy as ever.
lpbk2713
(42,766 posts)With revenues like that they could tell DiSantis to shove Reedy Creek up his ass if they really wanted to.
Hekate
(90,769 posts)Dysfunctional
(452 posts)We got 5 tickets to Disney World, 4 days, and 4 parks for $99 each person, no tax. We always pick our travel by what discounts the travel office has.
Xolodno
(6,398 posts)It's like a wild fire. It starts off very simple, a little fire here and there which doesn't get noticed and its business as usual. And then out of nowhere it becomes a raging inferno no one saw coming.
The repercussions cycle a bit later. A number of direct to market tech companies have laid off people. They are the first wave and no doubt found work quickly. It's the waves after that bring things down. Car, home, big ticket items are starting to go down, which means people are holding back any major purchases.
Within the insurance industry, combined ratios are exploding. The cost to replace a loss has skyrocketed and frequency is more aggressive, meaning, people in the past with a fender bender or minor home issues would handle it themselves, now they send it to the insurance company as they don't have the emergency budget. Company I just left had the directive of "think like a small business owner to cut costs", I know what that code means.
Disney is a mixed bag. Most plan and pay their vacations well in advance, so the money is already gone when it comes to theme parks. However, its movie, TV, etc. division always does well during recessions as people find cheaper forms of entertainment. They are not a leading indicator, but rather a lag.
Find someone who works in the box/packaging industry, they tend to know when stuff hits the fan. No one buys, no need for boxes.