Walt Disney Q1 earnings call notes; shares are up 2.2% in AH trade at $108.50/share
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Update on Twenty First Century (FOXA) asset acquisition
- Regulatory process has begun regarding the Fox media asset acquisition.
- 3 primary strategic priorities: more content, will enhance direct to consumer initiatives, will great diversify businesses geographically.
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Reaffirms ESPN direct to consumer product, ESPN Plus, will launch sometime this spring
- More compelling visuals, easy interface, personalized experience, the app will blend implicit choices with specific behavior tailored to the taste of each individual user.
- Will provide sports, highlights, podcasts, live stream of all ESPN networks.
- Will feature thousands of additional live events.
- ESPN Plus will feature full library of ESPN films and will also have exclusive content to platform.
- Pricing ESPN Plus at $4.99/month, will be available on IOS, Chromecast, Android, among others.
- Reaffirms unnamed Disney direct to consumer offering will launch sometime in 2019.
- Excited about upcoming 'Black Panther' film, which opens on February 16, ticket pre-sales outpacing every superhero movie ever made.
- Will release 'Solo' on May 25, and reaction to first trailer has been fantastic.
- 'Game of Thrones' creators will write and produce new series and new films.
- Q1 adj. AD revenue was down 7%, this quarter Advertising pacing is on pace with last year.
Shares of Disney are trading up 2.2% at $108.50/share as the conference call is ongoing.