Disney share are up more than 12% in a big move after impressing Wall Street with an earnings beat, solid outlook and deals with Epic Games and Taylor Swift. The numbers hit as two activist shareholders are trying to push outside directors onto Disney’s board claiming the company is floundering strategically and the stock too low. With shareholders set to cast votes at an April 3 annual meeting, the fiscal first quarter results and commentary needed to make a splash, and did. “We would not want to be makin ...

Disney CEO Bob Iger says ESPN‘s bulked-up streaming service will launch in the fall of 2025, or possibly even as soon as late-August of that year. The stand-alone offering will follow this fall’s planned launch of a high-profile joint streaming venture pooling the sports properties of Disney-ESPN, Warner Bros. Discovery and Fox Corp. Like that mini-bundle, the new streaming version of ESPN will offer access to multiple linear feeds of ESPN networks. Unlike the JV’s app, though, it will surround video progr ...

迪士尼业绩 - 迪士尼第一季度营收为235亿美元，与去年相比持平[1] - 每股收益（不包括某些项目）为1.22美元，同比增长23%[1] - DTC娱乐运营亏损较上一季度减少了近3亿美元[2] - 迪士尼计划在2024财年末实现盈利[2] - 迪士尼预计2024财年全年每股收益（不包括某些项目）将同比增长至少20%[9] 迪士尼战略 - CEO鲍勃·艾格表示，迪士尼已经实现了转折，专注于加强ESPN，将流媒体打造成盈利增长业务，重振电影工作室，并在乐园和体验领域实现增长[3] - 迪士尼宣布了股息支付和新的股票回购计划，以吸引股东[4][8] - 第一季度节省了5亿美元的销售、一般和行政费用[4]

Disney will unveil fiscal first-quarter financials after market close Wednesday – but this isn’t any earnings report. It’s one that comes with two separate activist shareholders lobbying aggressively to push new directors onto the company’s board because the stock has lagged and, they say, Disney hasn’t made any big moves to create value. One potential game changer came late yesterday with Disney, Warner Bros. and Fox announcing the launch of a new sports streaming joint venture pooling the sports rights o ...

新体育项目 - Fox Corp. CEO Lachlan Murdoch相信与Disney和Warner Bros. Discovery合作的新体育项目将是“增值的”，不会威胁到Fox仍然利润丰厚的付费电视业务[1] - 新项目将把14个线性网络整合到一个套餐中，可以与Max、Hulu和ESPN+捆绑销售，节目许可证是非独家的[3] - 公司进行了大量敏感性分析，如果认为这个产品会显著影响付费电视联盟合作伙伴，就不会推出这个产品[4] - 新流媒体服务将是“独特和创新的”[5]

文章核心观点 公司上季度营收因广告业务疲软下降8%至42.3亿美元，虽部分业务有增长但净利润大幅下滑，不过核心品牌仍具优势和韧性 [1][2][3] 营收情况 - 上季度营收42.3亿美元，同比下降8%，主要因广告业务疲软及上年同期高基数 [1] - 广告销售预期下降且实际下降20%，主要因FOX Sports无世界杯、福克斯电视台政治广告收入减少、直复市场供应增加、福克斯新闻收视率下降及突发新闻报道抢占时段 [1] - 附属费用收入增长4%，受电视业务10%的增长推动 [2] - 其他收入增长14%，主要因国家体育网络体育转授权收入增加，但娱乐制作公司因行业工会劳工纠纷内容收入减少 [2] 盈利情况 - 截至12月的第二财季净利润从3.21亿美元降至1.15亿美元，每股收益从58美分降至23美分 [2] 费用情况 - 本季度费用下降，主要因娱乐和体育节目版权摊销及制作成本降低，原因是原创剧本节目时长减少和无世界杯，但NFL新合同部分抵消了下降幅度 [2] 业务亮点 - 首席执行官称公司核心品牌实力和韧性强，能在各业务组合中吸引大量观众，FOX Sports受益于体育直播节目，FOX News在有线电视新闻领域保持领先，Tubi在竞争激烈的市场中表现坚韧 [3] 其他动态 - 福克斯与迪士尼、华纳兄弟探索公司为联合流媒体体育项目设定秋季推出日期，该服务将整合三家媒体公司的体育版权，目前暂无名称和价格 [1] - 昨日消息公布后股价上涨超5%，财报公布后回吐部分涨幅，目前上涨约1% [1]

Disney, Fox Sports and Warner Bros. Discovery are teaming up for a sports streaming venture set to launch by the end of the year. Details are still coming into focus about the service, which will pool resources among three of the biggest owners of sports rights. One aspect yet to be determined is how the new venture will affect linear broadcasts. NBCUniversal has recently experimented, with notable success, with streaming-only carriage of high-profile games. The Wall Street Journal had the first report of ...

Snap股价波动 - Snap Inc.发布第四季度业绩后，股价暴跌30%[1] - Snap的季度业绩公布后，股价立即下跌，这种情况在最近几个月内反复出现[3] 社交媒体行业挑战 - 虽然SnapChat母公司的数字与华尔街分析师的预期大致相符，但股价仍出现了有趣的波动[2] - 社交媒体行业整体受到数字广告和监管规模等问题的影响，TikTok的崛起也对许多社交媒体公司造成了挤压[4] 成本控制措施 - Snap计划裁员10%，以控制成本[5]

文章核心观点 - 公司第四季度表现强劲，亏损收窄、销售增长，用户和订阅者增长超预期，预计2024年营收和盈利趋势向好，盘前股价上涨超6% [1] 用户与订阅情况 - 月活用户超预期，同比增长23%至6.02亿，新增2800万用户 [2] - 付费订阅用户同比增长15%至2.36亿，新增1000万 [2] - 广告支持用户从2.95亿增至3.79亿 [2] 财务状况 - 本季度亏损7500万欧元，优于更新后的指引 [2] - 剔除一次性费用后，调整后运营收入6800万欧元，超三季度两倍 [3] - 裁员17%后，第四季度亏损1.43亿欧元 [3] - 营收同比增长16%至37亿欧元，符合指引 [4] - 广告支持收入增长12%，各地区均有增长，音乐和播客广告收入均实现两位数增长 [4] - 本季度自由现金流3.96亿欧元 [4] 业务合作 - 公司上周与顶级播客《乔·罗根体验》达成多年续约协议，但改为非独家发行计划 [4]

Snap, parent of Snapchat, said to today it plans to reduce its global headcount of full time employees by about 10%, or more than 500 people, in its latest round of staff cuts amid copious tech sector layoffs from Amazon to Google to Microsoft. “In order to best position our business to execute on our highest priorities, and to ensure we have the capacity to invest incrementally to support our growth over time, we have made the difficult decision to restructure our team,” the company said in an SEC filing. ...