The Walt Disney Company just made some HUGE announcements.

The company recently held its Q4 2023 Earnings Call and released its Earnings Report, and we learned some VERY important details about the financial health of the company. We learned that Disney+ saw a gain in subscribers since the last quarter. We also learned about how Disney Parks are doing financially. Most importantly, though, we learned about the company’s biggest priorities in moving forward and heard some optimistic statements from Iger.  

During the call, Disney stressed the importance of four goals that it’s focused on for 2024. Iger noted, “We’re really optimistic about the future of the company. We don’t manage the stock price for short-term gains. We have a long-term view.” So, what kind of priorities can help Disney achieve its goals? Let’s take a look!

The first priority is achieving significant profit streaming — this has been CEO Bob Iger’s #1 priority since he returned to the company.

The company is already well on its way to achieving that: Disney+ gained 7 million subscribers globally (excluding Hotstar) in the past quarter, beating out estimates. As a result, the company stated that it expected to reach profitability with its streaming business in the fourth quarter of 2024. The company credited the addition of content like Guardians of the Galaxy 3, Elemental, and The Little Mermaid for its subscriber growth.

Another priority for the company is ESPN Building. Iger said, “ESPN is a very popular, high-demand product in the United States” and the company wants to lean into that. Disney believes it has a very good opportunity to start partnering with tech companies and sports leagues.

Future plans involve “taking ESPN, which is already the world’s leading sports brand, and turning it into the preeminent digital sports platform.”

ESPN has grown in revenue and operating income over the past two years and had its best overall viewership in four years. Disney reported that ESPN viewership was up for all four quarters of 2023.

A new ESPN sports betting platform, ESPN BET, is launching on  November 14th, and will be available in 17 states. The sports network will also now be using official odds provided by ESPN BET across editorial and other content.

Disney also wants to improve the output of movie studios. Disney’s next big theatrical release will be The Marvels, which releases on November 10th, followed by Wish, which releases on November 22nd.

Disney’s fourth goal is to turbo-charge its experiences business. The company previously announced it planned to spend $60 billion to expand its theme parks. The company has already announced plans for an expansion to Magic Kingdom in Disney World, a re-imagining of DinoLand, U.S.A. in Disney’s Animal Kingdom, and a new attraction for Avengers Campus in Disneyland. New lands and attractions are also coming to Disney’s international parks.

Additionally, Disney Cruise Line will launch a new ship, the Disney Treasure, which takes its maiden voyage in late 2024. ANOTHER new ship, the Disney Adventure, will be the first to sail from Singapore and throughout Southeast Asia.

Iger went on to say he was optimistic about what’s been accomplished, what’s coming, and the team in place. In fact, Disney expects to grow free cash flow in 2024 significantly versus 2023 — approaching pre-pandemic levels. Iger noted that the future for shareholders is bright and further stated, “We’re optimistic about the future largely because of the strength of our team.”

We’ll be keeping an eye out for more big Disney news, updates, and announcements, so stay tuned to DFB for more.

Disney Just Made 4 HUGE Announcements

What do you think of The Walt Disney Company’s four goals? Let us know in the comments!

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