![]() Obviously, there are certain demographics that are slow coming back, the family films, that’s one thing that’s been a little bit slower, and the films that sort of go outside the big blockbusters, those are slower to come back. And at the same time, lagged recovery if you will, from COVID in theaters, and so we’d like to remain as flexible as possible, but we do believe in the future of the theatrical business, particularly for our big temple titles. “Well, we’ve always said we’re gonna have a flexible distribution strategy right now and the reason is, is because we’re in a world of flux, changing consumer behavior because the availability of titles in homes and homes our consumers have had a chance, our viewers have had a chance to enjoy that,” he said. He also confirmed Disney’s plans to continue to release blockbuster movies like Turning Red and Encanto in both theaters and on Disney Plus. So it’s not a straight-line growth every quarter but we’re reaffirming that to 230 to 260. You know, we have a little gaps here and there in terms of the content. So that that new content really is what drives it, you know, quarter to quarter because of the pandemic. We’ll have more franchise added content on our big franchises added this fiscal year, double what we had in ’21. That’s been our target that continues to be our target and really what’s driving us is what we’ve said, great content. He continued, “Well, we’re reaffirming our guidance of 230 to 260 as we gave last December. And I think the long-term health of Disney content really drives the day and to be honest with you, our great cast members, we have roughly 200,000 people that work tirelessly every day to get us through the pandemic and drive us to these kinds of results.” This is a long-term game, not really a quarter-to-quarter type of proposition. And we’ve always said we’re in this for the long-term. ![]() “And just the overall performance of the company with earnings per share of a buck six. We had a great quarter across the board, whether you’re looking at the Disney+ sub adds of 11.8 million, if you’re looking at a record setting domestic parks performance, you know, coming right on the heels of COVID. “Well, our great content is what drives our numbers and you’re right. But, is aware of that and is addressing those issues.”īob Chapek, who replaced Iger as CEO of Disney, told CNBC in 2022 about his long time plans for Disney Plus. “And there probably needs to be more dimensionality, meaning, basically, more programming or more content for more people, different demographics. In an interview with CNBC at the time, Iger told the network at the time that he thinks Disney Plus needs to diversify its content more beyond Marvel and Star Wars. Iger, however, has also been critical of Disney Plus, especially after he retired from his role as CEO in 2021. From a consumer perspective, it’s a very, very different product than what you’re buying from Netflix and Amazon and what you’ll buy from Apple.” “That’s one reason we’re doing it, and that’s one reason we’re confident about it. There’s a comfort level because you know you’re going to be buying something that you know and trust.”īecause of Disney’s established brand, Iger told the university that he doesn’t feel as much competition between Disney Plus and other streaming services like Netflix, Amazon Prime Video and Apple TV+. “As we see it, we’re not competing as directly because of the brand proposition of the service,” he said. It creates almost a chemical reaction inside you if I say Nike, or Apple or Mercedes Benz or Pixar or Star Wars. Greatness is a necessity and an imperative.” He continued, “Consumers have a habit of going right to brands that you know because that brand has values. Don’t be limited by the amount of time it takes or the amount of money. That essentially means don’t let the economy get in the way of making something great, don’t let time get in the way of making something great. “Quality and brands matter more than ever. ![]() Is Disney Plus worth it? In an interview with University of Pennsylvania in 2019, former Walt Disney Company CEO Bob Iger explained why the company decided to launch Disney Plus. “When I got my job … I saw a world where technology has enabled storytelling to proliferate much more and there is much more consumer choice,” Iger said.
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