The Town with Matthew Belloni
Did Disney Get Its Magic Back?
Feb 9, 2024
Discussion of Disney's latest earnings report and new announcements, including a $1.5 billion investment in Epic Games, a stand-alone ESPN streaming service, bundled sports streaming service, Moana 2, Taylor Swift's concert movie on Disney+, and the Nelson Peltz proxy battle. They analyze Disney's cost-cutting strategy, the importance of regaining investor confidence, and the potential impact of Nelson Peltz being on the Disney board. They also discuss the controversy surrounding the Gina Carano-Disney lawsuit.
32:26
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Quick takeaways
- Disney's commitment to franchise sequels demonstrates their strategy to rebuild consumer interest and trust.
- Disney's joint venture for sports streaming reflects their recognition of the importance of sports as a necessary element for modern media companies.
Deep dives
Disney's Quarterly Earnings and Projections
Disney's CEO Bob Iger released the latest quarterly earnings report, which showed positive financials, narrowing streaming losses, and meeting or exceeding cost-cutting targets. The stock jumped about 12% in response to the solid numbers, providing a blow to activist investor Nelson Peltz. Iger also announced numerous new projects and partnerships, including a joint venture for sports streaming, a $1.5 billion investment in Epic Games, a fall 2025 release date for ESPN's streaming service, and the upcoming Moana movie. The earnings call demonstrated Disney's commitment to recovering from recent struggles and focusing on franchise hits.
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