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12:30
Aug 05 ◎

DIS FY2026 Q3 Watch

Walt Disney Company (The) (DIS) FY2026 Q3 Earnings Call

WBD FOXA CMCSA SONY BYTEDANCE ▾

Josh D'Amaro

The partnership is highly valued for driving subscriber retention and is working well for both parties, indicating a strong co-competition strategy against other streamers.

"I'd flag in particular the Disney Plus Hulu HBO Max bundle. This is a very popular bundle and it works well for both us and Warner Brothers Discovery and it's very sticky."

WBD WATCH

Josh D'Amaro

Disney does not perceive Fox's acquisition of Roku as a threat or a catalyst to alter its strategic direction.

"we don't see Comcast restructuring or Fox's acquisition of Roku as moves that will change our own strategic path."

FOXA WATCH

Josh D'Amaro

While Comcast's NBCU spin-out is significant in the media landscape, Disney views its own strategy as independent and unaffected by this competitive restructure.

"we don't see Comcast restructuring or Fox's acquisition of Roku as moves that will change our own strategic path."

CMCSA WATCH

Josh D'Amaro

Disney acknowledges Sony and Marvel's success with Spider-Man, highlighting the strength of a franchise Disney will leverage in upcoming projects.

"I'd be remiss not to acknowledge and congratulate everyone on this past weekend's record-breaking opening for Spider-Man. Congratulations to Sony, Kevin Feige, and the Marvel Studios team."

SONY WATCH

Josh D'Amaro

Disney seeks to leverage TikTok's content and reach to enhance Disney+ engagement and appeal to a broader, younger audience.

"One of our more recent features is Verts. It'll be strengthened by the new deal that we have with TikTok, which will bring more curated feeds and fan-created content right onto Disney+."

BYTEDANCE WATCH

Hugh Johnston

The guidance tone is positive, with management explicitly raising the expected outcome for the Experiences segment to the high end of its range, backed by strong operational performance and robust consumer demand.

"we now expect the experiences segment to deliver a wide growth at the high end of the previously provided high single digit growth guidance for the fiscal year excluding the 53rd week."

DIS WATCH

HIGH

12:30
May 06 ◎

DIS FY2026 Q2 Watch

Walt Disney Company (The) (DIS) FY2026 Q2 Earnings Call

NFL EPIC OLCLF DIS ▾

Hugh

Disney's ESPN relationship with the NFL is deepening (NFL Network, RedZone), and while no early renewal talks have begun, Disney is open to discussion; this signals the NFL's media rights value continues to rise.

"we haven't yet engaged with the league on early renewal conversations, but we're not dogmatic about the process and we're always willing to have a conversation with the NFL in an effort to find new opportunities for growth"

NFL WATCH

Josh

Disney views its Epic Games partnership as a key acquisition and engagement spoke for its Disney Plus hub, targeting younger audiences and feeding the broader ecosystem.

"Epic gives us an interactive, a gaming-native environment to reach audiences that we don't currently own, and by the way, particularly younger audiences."

EPIC WATCH

Josh

Disney is expanding its cruise line fleet via a capital-light model with Oriental Land Company in Japan, indicating confidence in the Japanese cruise market.

"we've got a new cruise ship with the Oriental Land Company in Japan and a new theme park in Abu Dhabi with our partner, Miral."

OLCLF WATCH

Josh

Management's tone is confident and forward-looking, with expectations of improved domestic park attendance in Q3 and continued strength across streaming and experiences, supporting a 'long' stance.

"We are now starting to lap these headwinds and expect attendance trends at our domestic parks to improve in Q3 when compared to the results we reported for Q2 today."

DIS WATCH

HIGH

13:30
Feb 02 ◎

DIS FY2026 Q1 Watch

Walt Disney Company (The) (DIS) FY2026 Q1 Earnings Call

OPENAI NFL WBD DIS ▾

Bob Iger

OpenAI's Sora deal with Disney provides a new revenue stream and validates Sora's platform capabilities for enterprise content licensing.

"we're excited to introduce a curated slate of SOAR-generated content on Disney+, following our recently announced licensing agreement with OpenAI"

OPENAI WATCH

Bob Iger

Disney's acquisition of NFL Network assets and Red Zone rights bolsters ESPN's offering and strengthens the NFL's distribution reach.

"We also just closed our transaction with the NFL to acquire NFL Network and other media assets, including the linear rights to the league's popular Red Zone channel"

NFL WATCH

Bob Iger

The launch of ESPN's new streaming app (ESPN Unlimited) is offsetting subscriber declines in traditional pay-TV bundles. — This suggests the transition from linear to streaming is decelerating the revenue decline in the sports segment, a key metric for evaluating traditional media companies.

"if anything, the battle for control of Warner Brothers Discovery, I think, should emphasize or cause investors to appreciate the tremendous value of our assets"

WBD WATCH

Bob Iger

Management tone is very positive, fueled by blockbuster studio performance, strong streaming profitability growth, and robust Experiences segment revenue, setting a confident outlook for the rest of the year.

"We are pleased with the start of our fiscal year, and our achievements reflect the tremendous progress we've made."

DIS WATCH

HIGH

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