Disney4me Posted December 15, 2023 Report Share Posted December 15, 2023 According to The Walt Disney Company, the future is bright. Disney plans to invest a LOT into the Parks, Experiences, and Products division over the next decade (though by the time the proposed MEGA Magic Kingdom expansion is set to begin, CEO Bob Iger will no longer be in charge). Fans are hungry for new additions and large-scale expansions, but they may have to be patient. Disney World Disney is talking a big game. We’re expecting a TON of (expensive-sounding) changes, like a new Pirates of the Caribbean-themed lounge, an Animal Kingdom overhaul, a Test Track ride update, and a Magic Kingdom expansion rivaling the scale of the Star Wars: Galaxy’s Edge addition in Disney’s Hollywood Studios. But before we all get too excited, it’s worth noting that Bob Iger has a different priority, at least for now. Investors and analysts alike seem to agree that Disney+ needs to be profitable — and soon. In early 2023, Iger stated that Disney+ is expected to be profitable by the end of fiscal year 2024. ©Disney More recently, though, despite the fact that Disney+ subscriber growth beat estimates, Disney+ is not profitable yet, and that’s a problem for investors. Disney+ by the Numbers According to the Q4 earnings report, Disney+ revenue saw an overall increase of 3% from Q3, growing from $7.31 billion to $7.5 billion. (The report shared that this was due to higher advertising revenue.) ©Reuters | Disney CEO Bob Iger During the fourth quarter earnings call, Iger reaffirmed his earlier sentiment that the “streaming business is the future and has been growing,” and despite Disney’s recent shortcomings at the box office, Disney+’s subscriber count increased in Q4. In fact, there was a big increase in Disney+ subscribers in 2023 as a whole. The last quarter of the year brought in 7 million core Disney+ subscribers and the addition of content like Guardians of the Galaxy Vol. 3, Elemental, and The Little Mermaid. As long as the trend continues, Disney may be able to reach its goals for 2024. Ariel meet-and-greet in Disney’s Hollywood Studios In terms of Disney+’s ad-supported streaming tiers, Iger said that he believed advertiser-supported streaming services would be important growth initiatives for the company. Disney+ has even implemented some advertiser-targeting tools, and the company recently discussed the idea of introducing shopping and gaming experiences to the streaming platform. ©MasterClass So, what does Disney have planned for 2024? Iger stated that Disney’s first priority for 2024 is achieving significant profit streaming. During the Q4 earnings call, Iger said, “Our recent performance solidifies that we are on that path.” As we approach Q1, we’ll have to wait and see if Disney is any closer to reaching its goal. Click here to learn more about Disney’s FOUR big priorities in 2024 Hulu on Disney+ Now that Hulu is completely Disney-owned, streaming service-related changes are happening FAST. During Disney’s Q3 earnings call earlier this year, we learned that Disney planned to start offering a “one-app experience,” bringing Hulu content to the Disney+ app. All your Hulu titles are available within Disney+ now On November 8th, Disney announced that a beta version of Disney+ and Hulu bundled into one app would launch in December, with an official launch planned for early spring/March 2024. That beta testing has officially started. It is located at the top of the Disney+ home screen next to the Disney, Pixar, Marvel, Star Wars, and National Geographic tiles. It’s finally here! Disney is hoping that bundling Hulu and Disney together will create more engagement that will not only appeal to advertisers but is also expected to reduce the cost of customer acquisition and “decrease churn.” Click here to see the Disney+ CHANGES What This Means for Disney Parks CEO Bob Iger laid out four key priorities for 2024: Achieving significant and sustained profitability in our streaming business Building ESPN into the preeminent digital sports platform Improving the output and economics of Disney film studios Turbocharging growth in the Experiences business ©Disney While “Turbocharging growth in the Experiences business” is listed as one of the company’s goals, the company has a lot of work to do with Disney+ first. With investors keeping a close watch on Disney’s every move, Iger must remain disciplined with his financial decisions over the next year. So that might mean Disney fans will have to wait for any major park-related changes. In the meantime, we’re always on the lookout for the latest Disney news, so stay tuned for more. Bob Iger Has Made Two Massive Changes at Disney Join the DFB Newsletter to get all the breaking news right in your inbox! Click here to Subscribe! WE KNOW DISNEY. YOU CAN, TOO. Oh boy, planning a Disney trip can be quite the adventure, and we totally get it! But fear not, dear friends, we compiled EVERYTHING you need (and the things to avoid!) to plan the ULTIMATE Disney vacation. Whether you're a rookie or a seasoned pro, our insider tips and tricks will have you exploring the parks like never before. So come along with us, and get planning your most magical vacation ever! GET YOUR GUIDE NOW Do you have a Disney+ subscription? Let us know in the comments! The post Why Wall Street Won’t Let Bob Iger Spend Money on the Disney Parks in 2024 first appeared on the disney food blog.View the full article Quote Link to comment Share on other sites More sharing options...
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