The numbers were announced today in the Walt Disney Company’s fiscal first quarter earnings report. At it’s investor day in December, Disney announced that Disney+ had 86.8 million subscribers globally. That means over 8 million subscribers joined in just one month!
Bob Chapek, Walt Disney Company CEO, said, “We believe the strategic actions we’re taking to transform our Company will fuel our growth and enhance shareholder value, as demonstrated by the incredible strides we’ve made in our DTC business, reaching more than 146 million total paid subscriptions across our streaming services at the end of the quarter. We’re confident that, with our robust pipeline of exceptional, high-quality content and the upcoming launch of our new Star-branded international general entertainment offering, we are well-positioned to achieve even greater success going forward.”
Disney expects Disney+ to reach 230-260 million subscribers by September 2024.
Today The Walt Disney Company Reported their First Quarter Earnings for Fiscal 2021.
Check out the details below.
The Walt Disney Company today reported earnings for its first fiscal quarter ended January 2, 2021. Diluted earnings per share (EPS) from continuing operations for the quarter decreased 98% to $0.02 from $1.17 in the prior-year quarter. Excluding certain items,(1) diluted EPS for the quarter decreased 79% to $0.32 from $1.53 in the prior-year quarter. Results in the quarter ended January 2, 2021, were adversely impacted by the novel coronavirus (COVID-19). The most significant impact was at the Disney Parks, Experiences, and Products segment where since late in the second quarter of fiscal 2020, our parks and resorts have been closed or operating at significantly reduced capacity, and our cruise ship sailings have been suspended.
“We believe the strategic actions we’re taking to transform our Company will fuel our growth and enhance shareholder value, as demonstrated by the incredible strides we’ve made in our DTC business, reaching more than 146 million total paid subscriptions across our streaming services at the end of the quarter,” said Bob Chapek, Chief Executive Officer, The Walt Disney Company. “We’re confident that, with our robust pipeline of exceptional, high-quality content and the upcoming launch of our new Star branded international general entertainment offering, we are well-positioned to achieve even greater success going forward.”
Since late in the second quarter of fiscal 2020 and continuing into fiscal 2021, COVID-19 and measures to prevent its spread have impacted our segments in a number of ways, most significantly at Disney Parks, Experiences, and Products. In the current quarter, our theme parks were closed or operating at significantly reduced capacity and cruise ship sailings and guided tours were suspended. In addition, we have delayed, or in some cases, shortened or canceled, theatrical releases, and stage play performances have been suspended. We have experienced disruptions in the production and availability of content, including the cancellation or shift of key live sports programming from fiscal 2020 into fiscal 2021, as well as the suspension of production of most film and television content. Although most film and television production resumed beginning in the fourth quarter of fiscal 2020, we continue to see disruption of film and television production depending on local circumstances. We have incurred and will continue to incur, additional costs to address government regulations and implement safety measures for our employees, talent, and guests. The timing, duration, and extent of these costs will depend on the timing and scope of our operations as they resume. We currently estimate these costs may total approximately $1 billion in fiscal 2021. Some of these costs may be capitalized and amortized over future periods.
The most significant impact on operating income in the current quarter from COVID-19 was an estimated detriment of approximately $2.6 billion at the Disney Parks, Experiences, and Products segment due to revenue lost as a result of the closures and reduced operating capacities. The impacts of COVID-19 on our Disney Media and Entertainment Distribution segment were less significant. Higher sports programming costs reflecting the shift of key sporting events from prior quarters to the current quarter were largely offset by higher advertising revenue related to the broadcast of the events. Lower revenues due to the deferral or cancellation of significant film releases as a result of theater closures were largely offset by the related reduction in film cost amortization, marketing, and distribution costs.
The biggest takeaway is that the Disney Parks, Experiences and Products revenues for the quarter decreased 53% to $3.58 billion, and segment operating results decreased $2.6 billion to a loss of $119 million.
If you are into numbers it is quite a lengthy read. You can Click here to see the full pdf of the First Quarter Earnings for Fiscal 2021.
Yesterday we shared the Biden administration is considering imposing travel restrictions on Florida due to a new strain of COVID-19. Florida Governor Ron DeSantis responded today.
DeSantis spoke at a pop-up COVID-19 vaccination site at a southwest Florida retirement community today and said travel restrictions would be “a political attack” on the Florida’s residents.
“We will oppose it 100 percent,” DeSantis said. “It would not be based in science. It would purely be a political attack against the people of Florida. And it’s unclear why they would even try talking about that.”
The new strain of COVID-19 is a highly contagious variant from the UK. According to the CDC, Florida has the most known cases of that strain in the U.S. As of Wednesday there were 343 confirmed cases in Florida.
DeSantis said the idea of travel restrictions is absurd and he promised that Florida would fight back if restrictions are put in place.
“It would be unconstitutional, it would be unwise, and it would be unjust,” DeSantis said.
The Florida governor isn’t the only one that responded to the travel restriction possibility. Florida Senator Marco Rubio wrote a letter to President Biden saying travel restrictions on Florida would be “reckless and economically harmful.”
“Instead, it would only serve to inflict severe and devastating economic pain on an already damaged economy,” Rubio wrote. “If you are concerned about the coronavirus spread in Florida, I urge you to fast-track additional vaccines to the state instead of attempting to cripple our economy.”
Travel restrictions are not imminent and the Biden administration will work with state and local governments before making any decisions.
According to the CDC, people who have been fully vaccinated against coronavirus can skip quarantine. Even if they are exposed to someone infected with the virus. To clarify, the update means those with two doses of either the Pfizer/BioNTech or Moderna vaccine are in this category.
The criteria: They must be fully vaccinated — having had both shots with at least two weeks having passed since the second shot. That’s because it takes two weeks to build full immunity after the second dose of vaccine. This recommendation to waive quarantine for people with vaccine-derived immunity aligns with quarantine recommendations for those with natural immunity, which eases implementation.
“Fully vaccinated persons who meet criteria will no longer be required to quarantine following an exposure to someone with COVID-19. Vaccinated persons with an exposure to someone with suspected or confirmed COVID-19 are not required to quarantine if they meet all of the following criteria.”
– US Centers for Disease Control and Prevention
At this time, vaccinated persons should continue to follow current guidance to protect themselves and others.
The requirements include the following:
People should continue wearing a mask and staying at least 6 feet away from others. Also, avoiding crowds, avoiding poorly ventilated spaces, covering coughs and sneezes, washing hands often and, following CDC travel guidance.
Guests will be delighted to hear their favorite Character topiaries are coming back ! Expect to see Mickey, Donald and friends, to Remy, Anna & Elsa, Lady & the Tramp, Figment and more. The Disney Horticulture team is busy planting, and pruning as we speak. They are planning now for the kaleidoscope of bright blooms and floating gardens scattered throughout EPCOT. You can be each outdoor setting makes a perfect backdrop for family photos since they design beautiful floral displays.
With more than 20 delectable stops, World Showcase will play host to the festival’s Outdoor Kitchens and other food & beverage locations, offering a smorgasbord of flavors and beverages.
Gardeners of all ages will be invited to participate in Spike’s Pollen Nation Exploration. It’s a springtime scavenger hunt starring Spike, the buzzzz-iest honeybee at Walt Disney World. And, guests will “bee” on the lookout for festival-specific merchandise throughout the park. Also, be sure to take time to appreciate the wonderful garden views!
Taste of EPCOT International Flower & Garden Festival will run through July 5th. We can’t wait to go since it looks spectacular! It’s available with valid admission and a park reservation for the same date. Remember to check for Disney Resort package and hotel offers for your travel dates!
Disneyland Resort guests appreciate the majestic Sleeping Beauty Castle as the centerpiece of the West Coast theme park. Its grand design and decorative features make it quite a spectacle for Disney Park visitors in Anaheim, California. The wonderful castle was built by the architect, Roland E. Hill. Today, the Hollywood home of Roland E. Hill is now on the housing market. It’s no surprise that his home is quite a gem in Hollywood!
Home Details
Photo credit: Christopher Amitrano
The four-bedroom, three-bathroom home was built in 1926. The registered historic home has a castle-like turret, stained glass reminiscent of that in the classic 1959 film — and comes with the original 1926 blueprints of the 2,626-square-foot house. The cottage last sold for $1.57 million in 2006. It’s quite a luxury home since it has so many wonderful features!
Photo credit: Christopher Amitrano
The living room has its original hardwood floors, and 26-foot exposed wooden beams create a storybook peak. A red-and-yellow stained-glass window looms over an oversized gray fireplace, and a wrought-iron chandelier and lantern lighting create a mystical ambiance. Arched glass doors open to a balcony overlooking a deck with a heated pool.
Through a pair of medieval-style peaked doorways, the dining room has another stained-glass window and exposed ceiling beams, with French doors opening onto a Juliet balcony. The balcony view is quite spectacular since you can enjoy a serene view.
Photo credit: Christopher Amitrano
Also, the kitchen (and the rest of the house) has modern appliances.
Up a winding staircase, the master bedroom has a stained-glass window, exposed brick wall and three closets sure to satisfy the prince or princess in potential buyers. Meanwhile, double French glass doors open onto a dramatic balcony overlooking the pool.
Photo credit: Christopher Amitrano
The property, which sits on a tenth of an acre, is packed with a main house, a separate studio, a guest house and a two-car garage, plus five citrus trees, a fountain, a slate patio, a fire pit and wrought-iron gates.
Click here to see more photos of this amazing home and also the listing.
Fans of the recently let go Mandalorian star Gina Carano are not happy with Lucasfilm firing her last night over her controversial Instagram posts comparing a person’s political beliefs to the Jewish people in Nazi Germany.
A petition has been started for Disney to Bring Gina Carano back to the Mandalorian by one Gina Fan.
While having a typo in the title, at the time of this writing it has almost 7,000 signatures and rising fast.
This is just one of many petitions to rehire, bring back, and don’t fire Gina Carano on change.org.
This petition seems to be the largest and fastest-growing petition so far.
It should also be noted that there are also petitions to cast Fallon Fox, Lana Parilla, and the Frog Lady from the Mandalorian as Cara Dune. (It’s true look it up)
Also this morning we shared the news of Gina Carano being dropped by the UTA Talent Agency over her controversial Instagram posts.
At this time there still has not been any comment from Gina Carano over being let go from Lucasfilm.
Co-Director Chris Buck Shares There May Be a ‘Frozen 3‘. Co-Director Chris Buck had spoken with Radio Times to discuss the premiere of Into the Unknown: Making of Frozen 2 on Disney+. During the interview, Chris shared that a Frozen 3 was still on the table and to “ask us in six months!”.
“After the first movie it took us about a year before we even thought about a chapter two because you are so emotionally and physically spent by the end of it – and the documentary sort of shows that, and you know it’s three to four years that kind of intensity.” Buck elaborated, “You need a break and to regroup and think. For us, I would say…ask us in six months!”
The production team has never said “no” to a third film, and on several occasions they have hinted that it’s in the pipeline, but no official word has been announced by Disney at this time.
Co-composer Kristen Anderson-Lopez has shared she and her husband will begin working on Frozen 3 “when there’s a vaccine.”
What do you think of a Frozen 3? Would you like to see an exploration of Anna’s rule as Queen of Arendelle? Potentially see the wedding of Kristoff and Anna? Or see Elsa in her element as the 5th spirit and visiting Ahtohallan more frequently? We would love to hear your thoughts and predictions in the comments.
Be sure to check back here at Chip and Co. for updates and all things Disney!
This fun tumbler features Dug, Russel, and Kevin on their Paradise Falls adventure! The iconic balloons also decorate the sky blue cup. There is even a clear “spot” in the cup that allows you to see inside. Inside you’ll find Carl’s house floating off in the sky, so cute!
If you love this new UP Tumbler, be sure to check out the rest of the UP collection at shopDisney!
#CancelDisneyPlus is trending on Twitter this morning in support of Mandalorian star Gina Carano after she was fired from Lucasfilm over a series of controversial messages posted on her Instagram yesterday.
We shared the news late last night of her departure from the Mandalorian.
Marvel Casts Diamond White as Moon Girl in New Animated Disney Channel Series. Disney Channel and Marvel have announced that actress Diamond White will be using her vocal talents to bring Moon Girl to life in the upcoming Disney Channel Animated Series, Moon Girl and Devil Dinosaur.
The new animated show is produced by Laurence Fishburne and Helen Sugland’s Cinema Gypsy Productions (ABC’s “black-ish”), and Marvel Animation & Family Entertainment, and Emmy Award-winner Steve Loter (Disney’s “Kim Possible”). The series follows the adventures of 13-year-old super-genius Lunella Lafayette and her ten-ton T-Rex, Devil Dinosaur. After Lunella accidentally brings Devil Dinosaur into present-day New York City via a time vortex, the duo works together to protect the city’s Lower East Side from danger.
Laurence Fishburne has shared, “As an avid comic book fan, I am thrilled to be involved with ‘Marvel’s Moon Girl and Devil Dinosaur.’ Disney Channel is the perfect platform to explore this pint-sized female African American superhero and I can’t wait for their audience to enjoy the lighthearted adventures of Lunella and Devil Dinosaur.”
Meredith Roberts, senior vice president, Animation Strategy, Disney Channels said, “Disney TV Animation is thrilled to collaborate with renowned producers Laurence, Helen and Steve and the talented Marvel Animation team to bring this modern-day roller-skating, gadget-wielding tween superhero and her larger-than-life partner to Disney Channel.”
Cort Lane, senior vice president, Marvel Animation & Family Entertainment stated, “Lunella doesn’t know she is the smartest person on the planet, but audiences will soon know how very cool Moon Girl is. Her adventures with giant buddy, Devil Dinosaur, are filled with so much wonder and joy, and this historic partnership with Disney Television Animation and Cinema Gypsy Productions proved the right formula to bring them to television.”
Jeff Howard (“Planes”) and Kate Kondell (“The Pirate Fairy”) also serve as co-producers and story editors for the series!
Are you ready to drop into New York City and set off on adventures with Marvel’s Moon Girl and Devil Dinosaur? I know I am! Be sure to check back here at Chip and Co. updates and all things Marvel and Disney!
Last night we reported that Lucasfilm dropped Mandalorian star Gina Carano following a series of controversial social media posts on her Instagram.
Lucasfilm released a statement on her firing:
“Gina Carano is not currently employed by Lucasfilm and there are no plans for her to be in the future. Nevertheless, her social media posts denigrating people based on their cultural and religious identities are abhorrent and unacceptable.”
Today we have found out that the UTA Talent Agency has also dropped her as a client as well.
The hashtag #FireGinaCarano began circulating on Twitter Wednesday in response to her posts. Many users tagged Lucasfilm and corporate parent Disney in their posts.
Gina has not responded to the being let go on social media at this time. She did however post this yesterday.
