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  1. #1

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    Disney's strong 3rd Quarter

    A dramatic turnaround at its film studio and surging profit at its television operations helped Disney post strong financial results in its fiscal third quarter.

    The company said Tuesday that overall revenue rose 16% to a little more than $10 billion while net income leapt 40% to $1.3 billion.

    The overall results included a positive $43 million from the sale of the Power Rangers franchise and a negative $36 million in restructuring and impairment charges.

    Every segment showed improving sales during the quarter, with Interactive Media, by far Disney's smallest business, leading the charge by growing its revenue 74% to $197 million. The unit, though, lost $65 million, up from a loss of $75 million a year earlier.

    Media Networks, Disney's largest business, grew revenue 19% to $4.7 billion and grew its operating income by 43% to $1.9 billion. As is usual nowadays, cable did the heavy lifting, notching 28% growth in revenue to $3.3 billion and a 50% gain in operating income to $1.7 billion while broadcasting posted far more muted gains of 4% and 2%, respectively.

    Studio Entertainment, the third largest of Disney's five segments, posted 30% growth in revenue to $1.7 billion and managed to reverse last year's $12 million loss by posting $123 million in operating income.

    On a conference call with analysts, CEO Bob Iger noted that three of the year's Top 5 global film hits were from Disney: "Alice in Wonderland," "Toy Story 3," from its Pixar acquisition, and "Iron Man 2," from its Marvel acquisition.

    Merchandising reached "new heights" due to "Toy Story 3," Iger said. That unit, called Consumer Products," posted a 19% revenue gain to $606 million and a 22% gain in operating income to $117 million.

    Other Disney properties earning a mention by Iger during the call included "Phineas and Ferb" from Disney XD and "Good Luck Charlie" from the Disney Channel, along with "The Secret LIfe of the American Teenager" and "Pretty Little Liars" on ABC Family, ESPN World Cup soccer coverage and the new "World of Color" water show, which he called "the first of our next-generation of attractions" at Disney's California Adventure Park.
    more at:
    Disney's Q3 boosted by TV operations profit

  2. #2

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    Re: Disney's strong 3rd Quarter

    Big comeback for the Studio. If Dick Cook had survived 2009, he probably could have kept his job through 2011. Even the weak-domestically 'Prince of Persia' is in the current top 10 internationally. And Tron could do big numbers this Christmas (although there have been some alarms raised about its quality), although I predict Tangled will be a disappointment. Anybody know when the first films from Studio Head Ross's pipeline hit theaters? Wasn't the bomb 'When in Rome' one of his?

    It was my understanding that Disney doesn't see any money from Iron Man 2 box office (or any of the major Marvel properties that have deals with rival studios through ~2015 (Spiderman, Avengers, etc.), funny that Iger would mention that on the conference call - likely just trying to drum up Wall St excitement for his Marvel acquisition.

  3. #3

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    Re: Disney's strong 3rd Quarter

    Good news, I'm sure Tangled and Tron will help make this year HUGE. I am a little worried about next year sine Pirates 4 will be a money maker but will Cars 2, the New Winnie the Pooh and Muppets REALLY be as big as Alice, Tron and Toy Story?

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    Re: Disney's strong 3rd Quarter

    Quote Originally Posted by RandySavage View Post
    Anybody know when the first films from Studio Head Ross's pipeline hit theaters? Wasn't the bomb 'When in Rome' one of his?
    Mr. Cook signed those checks: 2/10/08
    http://micechat.com/forums/news/8986...-when-rome.htm

    10/15/09
    http://micechat.com/forums/news/125530-ross-1st-buy-whats-he-got-josh-duhamel.htmll

  5. #5

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    Re: Disney's strong 3rd Quarter

    It's sad to see that the theme parks are still lagging.

    Here's what the Wall Street Journal is saying:

    Walt Disney Co.'s quarterly revenue and profit surged thanks to a confluence of hit movies, blockbuster sports events and an improving advertising climate, even as ongoing softness in theme-park attendance pointed to uncertainty in the broad economy.

    Disney's net income for its fiscal third quarter that ended July 3 rose 40% from a year earlier to $1.3 billion, as revenue increased 16% to $10 billion.

    The biggest improvement came at the company's media networks division, which includes the ABC network and ESPN. Revenue for the unit increased 19% to $4.7 billion, while profit surged 43% to $1.9 billion.

    In remarks to Wall Street analysts Tuesday, Disney Chief Executive Robert Iger attributed the media unit's results primarily to the hotly contested NBA finals and the soccer World Cup, which Mr. Iger called "nothing short of spectacular" for ESPN. Soccer doesn't include the kind of built-in advertising breaks that popular American sports do, and Mr. Iger said that about one quarter of the sports network's World Cup revenue came from "non-linear platforms," such as websites and applications for iPhones and iPads. The company didn't disclose the World Cup revenue figure itself.

    The company's parks-and-resorts division saw 3% revenue growth to $2.8 billion, and operating income of $477 million, an 8% decline. The results were affected by several factors tied to the broader economy, along with higher prices, which drove down attendance at Disneyland and Walt Disney World.

    The company said increased expenses for pension payments and medical bills for retirees contributed to higher costs. During the current quarter, Chief Financial Officer Jay Rasulo said that hotel bookings were 1% behind the same period last year, excluding the effects of a calendar change. In earlier quarters bookings have been down as much as 10%, suggesting possible improvement.

    "Alice in Wonderland," "Toy Story 3" and "Iron Man 2" propelled Disney Studios to a $123 million profit. That compares with a loss of $12 million a year ago, when the studio had a couple of hits, but nothing on the scale of this year's lineup, which comprised the year's three biggest hits in North American movie theaters so far.

    Nonetheless, Mr. Iger acknowledged that Disney, like all movie studios, is struggling with waning demand for its biggest and most profitable product, DVDs. As a result, he said, the company is moving to a more targeted approach to movie production, making primarily titles that executives believe are likely to spawn sequels and tie-ins like toys, clothes and theme-park attractions.

    Disney, Mr. Iger said, intends to "focus on those core brands and key franchises and be judicious in the number of films we release."

    In addition to strong performances at three of its five operating divisions, the company reported a handful of calendar and accounting quirks. This year's April-to-June quarter included one less holiday week than the comparable three months in 2009. And ESPN realized $255 million revenue earlier than it had expected to. That is likely to contribute to a shortfall in the next quarter, the company cautioned.
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    Re: Disney's strong 3rd Quarter

    Quote Originally Posted by RandySavage View Post
    It was my understanding that Disney doesn't see any money from Iron Man 2 box office (or any of the major Marvel properties that have deals with rival studios through ~2015 (Spiderman, Avengers, etc.), funny that Iger would mention that on the conference call - likely just trying to drum up Wall St excitement for his Marvel acquisition.
    I'm not sure that true.

    Iron Man 2 if i remember correctly was produced by Marvel and Paramount is the distributor.


    just found this quote:

    Get the latest news on two of Marvel's next blockbusters! | Marvel.com News | Marvel.com


    "Based on Marvel's iconic Super Hero, "Iron Man 2" continues the story of this summer's box office blockbuster IRON MAN, the first feature film produced independently by Marvel Studios. "Iron Man 2" will be produced by Marvel Studios' President, Kevin Feige, and executive produced by Louis D'Esposito, Jon Favreau, Stan Lee, David Maisel and Denis Stewart.
    In a movie event, "The Avengers" will bring together the super hero team of Marvel Comics characters for the first time ever, including Iron Man, Captain America, Thor, the Hulk and more, as they are forced to band together to battle the biggest foe they've ever faced.

    The highly anticipated sequel to "Iron Man" will be released in theatres on May 7, 2010 and "The Avengers" will be released July 15, 2011. Both films will be distributed by Paramount Pictures."


    So Disney is actually profting from any Marvel produced films as well as any MArvel property film that other studios pay licensing for. Next year they should also see some income from Avengers if it does well since its a Marvel production with Paramount only being the distributor

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