Thursday, November 10, 2016

Robert Iger Speaks

The profit numbers are out for the House of Mouse, and Chairman Iger was on the horn with financial reporters.

... The magnitude of our Studio's success in fiscal 2016 is simply stunning. We released four films that broke $1 billion in worldwide box office, The Force Awakens, Captain America: Civil War, Finding Dory, and Zootopia. And Jungle Book came very close with $966 million. Our Studio slate topped a record-breaking $7.5 billion in total box office for the year. Disney, Pixar, Marvel, and Lucasfilm all contributed to this remarkable achievement, and their creative momentum continues.

Doctor Strange just opened to great numbers, Marvel's 14th consecutive movie to open at number one at the U.S. box office. And it has already surpassed $377 million worldwide. Our next animated musical, Moana, is already generating great buzz ahead of its opening later this month. And we expect it will join the pantheon of recent hits from Disney Animation alongside Zootopia and Frozen. ...

Sadly, today's earning report was a long way from being all lollipops and ice cream:

... [The Disney Company] posted adjusted earnings of $1.10 per share on revenue of $13.14 billion for its fiscal fourth quarter. Revenue slid 3 percent from the prior year, which Disney said included an extra week of operations.

Analysts expected Disney to report earnings of about $1.16 a share on $13.52 billion in revenue, according to a consensus estimate from Thomson Reuters. ...

ESPN, the Disney cable sports network, continues to be a drag on company profits. Revenues at other cable outposts came to $3.96 bill, which was down 7%.

SO, some divisions are marching along smartly, while others are stumbling. Cable networks continue to deflate as more and more people switch to streaming on the internet. The movie studio continues to thrive, as do the various amusement parks girdling the globe.


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