Breakingviews - Disney Netflix-with-theme-parks recast looks scary

08 February, 2018, 13:14 | Author: Julian Swanson
  • Kevork Djansezian  Getty Images
Disney CEO Bob Iger

But Walt Disney Studios suffered from weaker home entertainment results - "Cars 3" did not sell as well on DVD as "Finding Dory" did a year earlier. Disney saw a slight increase in cable revenue thanks to Freeform, where the Marvel series Cloak and Dagger will premiere in July, and its various Disney Channels.

Those regulatory processes that Iger is referring to could allow other companies to place a bid on the assets from 21st Century Fox, with the most recent rumor indicated Comcast might want to get into the mix. The announcement comes after another disappointing quarter for ESPN, with decreased ad revenue and higher programming costs compared to the prior year.

Speaking on Disney's Q1 2018 Earnings Call, Iger said the ESPN DTC business would feature a completely re-conceived and redesigned ESPN app which would deliver important new services and experiences to users.

The power of Disney parks - where attendance was up - helped the company beat Wall Street profit estimates.

"We'll continue to invest in original and exclusive content just for the app", he said.

Mr. Iger also focused on Disney's film pipeline, announcing that David Benioff and D.B. Weiss, executive producers of HBO's hit series "Game of Thrones", would write and produce a series of new "Star Wars" movies.

ESPN's new streaming service is coming to your phone this spring.

"The changes will be dramatic, with more compelling visuals, as well as an easy, intuitive interface and exceptional video and sound quality", said Disney CEO Bob Iger in an earnings call. The analyst believes it was "somewhat expected", so he remains unfazed that Studio revenue of $2.50 billion and Consumer/Interactive of $1.45 billion came up a bit short of consensus expectations.

Revenue at Disney's biggest business, media networks, was flat at $6.2bn because of falling income from advertising and programme sales at its ABC network. But many sports fans might be left wondering what exactly they are paying an extra five dollars a month for.

Disney is seeking to transform itself into a digital entertainment giant to rival subscription services such as Netflix that let viewers watch films and TV shows online. The unit benefited by higher theatrical distribution results of Star Wars: The Last Jedi and Thor: Ragnarok in Q1 versus Rogue One: A Star Wars Story and Doctor Strange in the prior-year quarter.

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