Thank you for being objective and honest Chris. I appreciate you for not sugar coating or covering for Disneys bad choices like alot of influencers do.
It is suspicious how each question touched on a different facet of the Disney company. Giving Bob Iger a chance to promote or highlight something. The questions were questionable.
It felt like some of those questions were softballs, and the answers more PR spin than substantive responses. I love Disneyland, and I loved the Disney company of my youth, but the current day company feels well removed than the one Walt built.
No corporation does, it’s all about the shareholders. What’s good for shareholders - I.e. if Nelson Peltz had of got his seats - is bad for us consumers. The results of this proxy battle is sadly the best outcome for us consumers, even though it doesn’t feel like it.
Disney doesnt want too many people at the park. It used to be accessible to everyone. Now they can't sustain low dollar spenders so they are making a barrier of entry
@@MichaelCharles-zn6rh Disney was always for everyone. Their belief that force feeding ideology and vilifying anyone that does not like what they produce for any number of reasons has turned them from being for everyone to only being for those that praise their message.
You are correct Chris those questions are in no way random. They covered only what Disney wanted put forward and the answers were very general or vague to me. Thank you for the information.
You were VERY kind in your assessment. I think you may have given Disney / Iger the benefit of the doubt. I do appreciate you bringing this issue to a group that may not be aware of the concerning direction of the company.
Thank you for covering this crazy call truthfully and not just saying “yay! Iger won” like so many others are. There was nothing live about that Q&A portion. I agree that he was probably given the “questions” beforehand. I’m sure Bob probably recorded the answers multiple times until he was happy with them. To not even show your face is disrespectful to shareholders (but I guess you might not want to if you’ve prerecorded your answers). These questions were crafted so that Bob could have talking points about all he’s doing/done and showcase what he wanted. The fact he’s unbothered by Epic Universe is a little upsetting- WDW isn’t being maintained and these “expansions” and whatnot are all blue sky. Epic Universe is going to be family-oriented, immersive, and isn’t taking 10 years to build. And Universal is updating and creating new offerings in their other 2 FL parks-and, again, not taking years to do it. Iger spent $40 million on the battle, trashed Peltz and Rasulo, and just played dirty (and George Lucas and the Disney family endorsing Iger was so fishy- they suddenly changed their criticism of Iger and the company?). Peltz isn’t going anywhere. If Iger doesn’t deliver (and he won’t), Peltz will be back and might have Elon with him. Frankly, I hope so b/c I’m sick of blue sky promises, price hikes for everything (D23, park tickets, merch, etc.) and excuses. Peltz’s campaign was called “Restore the Magic” and I think that’s what’s needed. Walt wouldn’t recognize his beloved company.
I believe that George Lucas wife is on the JP Morgan board who backed Iger, so i wonder how much of George Lucas statement backing Iger was actually coming straight from him, it is fishy
I know you probably get this a lot, but add my voice to those who appreciate your reporting of what is going on as well as your analysis and breaking down the situation. Thank you!
When it comes to peoples current views of the Walt Disney Co., critical thinking seems to go straight out the window. I’m not on board with everything the company has done over the years, but it’s clear as day that the negative views of many people are majorly influenced by social media, politics and ‘culture wars.’ Having a few preplanned questions isn’t worthy of Watergate level suspicion, and as you mentioned D23 is the stage for major announcements. It’s just my view, but perhaps the attempt to start a hostile takeover of Disney by Peltz, who is overtly political, exhausted everyone involved. The stakes have never been higher for Disney and the pressure has been intense which may explain avoiding random callers. What’s humorous to me over the past few years are the supposed anti ‘big government’ politicians telling a corporation how they can and cannot run their own business. I would love it if people could get back to having viewpoints that aren’t so influenced by negative outside forces that continually seek to divide us. Life is short, Disneyland is fun, and I still believe in the magic and the positive future of the company. They’re imperfect like each and every one of us, so here’s to more understanding and less hate.
Why in the world would they pick a question about Taylor Swift when there are so many upset people about the way the parks are being managed! They missed a great opportunity to provide comfort to Disney fans and to the people that have help Disney be successful. Thank you Chris for all your thoughts and insight.
Thanks for this, Chris 🙏🏽 Appreciate the distillation - You speak my language. My unconditional Love for Disney is rooted in their origin story, animated movies, and Disneyland....not in their business dealings. However, your summary of the shareholders meeting is important and it's smart to be within the friction of what's going on. Cheers to many more videos from Provost Park Pass!
I have absolutely no faith in in Disney right now not when it comes to to movie, parks, anything there makes bad decision after bad decision it’s incredibly frustrating
@@FunAtDisney well if you feel that way I strongly urge you to do your homework because only a fool would think they turned a corner it will get worse but that’s your opinion you can only lead a horse to water, but you can’t make it drink 😁
This was the first time I have listened to a shareholder meeting and I was surprised that no one was on camera. I also thought the AI read questions seemed odd, but I don't know any different since it's my first one. I am glad to know my instincts were correct. Regarding the stock price drop, I bet Trian and / or Blackwell dumped a bunch of stock when the results were announced.
I think Disney is in a tumultuous position right now, and Iger knows it. He doesn’t want to add fuel to the fire. This is why the questions seem prescreened and answerers rehearsed. The problem with this approach is it’s adding fuel onto the fire anyway. No one wants a CEO who is afraid of the public opinion. We had that with Bob Paycheck. He hid from fans in parks and was afraid of being heckled offstage. The Universal question is quite alarming. The question was aimed at what Disney is going to do. Instead Iger deflected and pointed out the things they have done in the past. This leaves a bad taste in my mouth. It gives the impression that WDW would never have improved or expanded without Universals competition. The investment question is also troubling. Given the answer we were given, I don’t think Disney has any “home run” ideas they are willing to put on the table. Which means they still dont know what to do. Which has been my opinion ever since Paycheck was CEO. The prolonged construction seems like a way to forestall future development. They lost HALF of Imagineering with the Lake Nona disaster. Because of this decision, Disney is creatively BANKRUPT. This is why Bruce Vaugn is back, and they are seeking mentorship lessons with Joe Rhody. Disney hasn’t been innovative for quite a long time. They have been in a reactionary phase instead. This is proven with OLC. Japans parks are out performing the domestic parks in terms of development and innovation. We haven’t seen a tenth of the effort OLC has done in the past decade. I used to worship Bob Iger for being a brilliant businessman and innovative leader. But now I am second guessing everything he has done.
Thank you Chris for breaking down the shareholders theatre production. That's it. This wasn't a meeting, it was a Disney Business production. From the voting to the supposed leaks, it was all for Disney to flex and aggrandize themselves. All the shareholders had to watch was a show where Bob Iger touted the many accomplishments of Disney. The scary thing for me was that there was no mention as to whether the theme parks will become more accessible to the masses. This indicates that the Disney Magic will only be available to those who can afford their royal prices. Now, was it a perfect meeting? Of couse not. Regardless of their flex, they had to and will address their flaws. When faced with the question about Disney's competition i e. Epic Universe, it was clear that Bob had little to no answer to addressing the future juggernaut. Finally, with their question of suitable content, you can tell that Disney is in panic mode. So many of their set in stone projects are being removed, with little to no word. So, my opinion? The meeting was a Disney pep rally 😅
Chris, I always appreciate your videos that try to break down the business side of things for folks. There's many things in our modern world that are in the news that are legitimately complicated, but the education needed to understand them is assumed.
Bob did a great job to convince everyone to not buy and sell sell sell. At this point I am wondering when will it be time to say goodbye to an old good friend. I for one am very sad😢
I gave up on my annual pass when all the these new annual pass system stuff came in. It was fine as it was, they just needed to watch the guest counts. Because some days they let too many people in. I may sell all my stock and this is the first year I have no love in my heart to got to D23. Especially how they changed it.
Hi Chris. We are tiny-shareholders and are so confused as to what did the answers actually clear up! A lot of double talk. Our love for things Disney hasn’t changed but confidence in the company CEO not so much.
I think the proxy battle would've swayed towards peltz if it was 3 months ago. He would've definitely got it if it was this time last year. But once people like George Lucas,Michael Eisner, etc. came out in support of Iger. It was hard to recover from that. The questions were terrible. Overall, all im worried about is that this could make D23 not as major as an event. I feel like they dont have to go as hard anymore. They won the battle. They'll announce stuff, but not as much, I fear. Great video, as always, Chris.
Very very sadly, my wife, daughter and myself have made the decision to not renew our passes when they are up for renewal (I know Disney won’t care). Just too many things adding up that just make it not fun anymore… If they got rid of reservations and Genie+ that would be a great start, but I don’t see either of those happening.
They definitely don't care at all. One thousand other people will happily take your place and they will probably pay $1500 per ticket to do so. I feel like Disney could charge people 2 grand per ticket and people would still flood the parks.
Chris, it seems to me that Disney is still just reaching out and grabbing ideas in hopes that one of them takes off. At the same time, they are really trying to appease a small group of people with their new way of production. Hopefully, you understand what I'm saying. Some would reference a "going broke" slang to describe this.. What baffles me is the fact that Disney has done some fantastic things in the past, and fairly recently, might I add. Still, they are just entirely going away from what has brought both the consumer/customer happiness and the business success. One thing I have learned in business is "if the client is satisfied and happy, I'll be successful." And as a voting member, haha, I think Disney needs to actually listen to their consumer base and not just say they are.
Hi again! I went away from this video and all the info given saying “wow! What is Disney doing!?” I already knew that they were treading water in a sense (maybe that’s a bit extreme to say) but personally I expect much bigger things from Disney. I think that the questions were NOT randomly chosen. I think that the answers were vague and very disappointing. Seems like Disney is focusing more on the ESPN app than anything else because they need something big to bounce them back into play financially speaking. I also don’t think that Disney was intentionally adding new rides and attractions as a way to compete with universal along the way, but as a way to keep up appearances and now they have nothing substantial to offer to compete with universal studios and are just saying that they did all along. I think Disney may 1) either be panicking and don’t have a solid plan yet or 2) they think they will automatically always be better than universal no matter what and don’t care. The 10 questions were just pre chosen to be a look at me, look at me thing to sugarcoat everything and keep fans at bay a little longer. I’m still a Disney fan and hope they up their game.
I love your business side of Disney videos! Keep 'em coming. I think that if they submitted a gazillion questions to an AI generator these are the kind of questions they would get to choose from. What puzzles me the most is why Bob Iger was not live speaking off the cuff like you would expect at a shareholders meeting. To me his answers seemed well planned to appease the small shareholders who would be listening for answers that would address the concerns they had. I am a Disneyland person...I was looking for answers to what I think would rekindle The Magic. It was addressed but I'm not sure what he was promising.
Disney isn’t answering any of the questions we really want to hear and it’s frustrating. It feels like they are ignoring us and giving us answers a politician would answer. If they keep not listening to the fans then hopefully their stalk prices will drop and they will start listening.
Thank you so much for these breakdowns, i really like the business side of this as well because its the backbone of Disney and ultimately dictates if Disney is even allowed to create more and bring more magic to the world. I'm a hobby investory and own Disney share and dont want to read through the financial statements. Love you !!
In the video game industry, there are 3 phases when it comes to popularity amount the three major consoles. “Climbing the mountain” “king of the mountain” and “fall off the mountain” and right now it feels like universal is climbing the mountain and Disney is falling off the mountain.
All three options for the shareholder vote weren’t great. But as someone who has family members who worked at a company acquired by Peltz businesses, I am so very glad he didn’t get his seats. Sure he’s good for shareholders, but for the consumer and especially for workers he is pure evil. Ultimately, every business he’s involved in cheapens product quality, bumps up prices and cuts down staff significantly. He ruins lives while increasing share prices. Pure evil. Although I’m no fan of Iger, the Disney proposal was the lesser evil. The entertainment industry is in massive flux right now, and every corporation doesn’t really know how it’s going to go and is just trying to make educated guesses and try to spend money on safe things. All of the questions were pre-submitted, so of course they went for the easy answers and probably took time to script answers, it’s how they all do it now. I urge people to look at pretty much every investor meeting now, it’s all gonna be the same.
Thank you for your comment! I'm kind of surprised everyone is just on the pure bandwagon for Peltz in the comment section here. There is sooo much more nuance to this shift in the entertainment industry and not acknowledging this simplifies the problems to the point that won't actually fix anything. Key prhase: "Lesser of two evils." There was a clear calculation on this front and Peltz was not the right person for the job.
@@jrob5465 that’s the thing about this whole thing, and with Disney as a whole in recent years. There’s so much nuance, so much wider context and so much media circus to fight through. I’m not surprised that people fell for the Peltz patter, he spouted words and terms people wanted to hear ‘restore the magic’, and it’s amazing how easily people can get taken in by words and not actually look in to the person, their dealings and who they work with. Peltz ultimately would have been the worst case scenario for Disney and luckily he killed his chances with his Black Panther comments.
I currently work in PR for sports and have for awhile. If I were on the PR team I would've "let" people submit questions but the PR team already created questions for him. The questions all had a similar tone/writing style. Its the PR team's job to try and control the narrative so what better way than to pre-record his answers.
I think on the 3rd question his answer seemed honest but did shadow a genuine concern about epic universe. He does have a valid point about his staggering of attractions in the last 10 years. But I think they are still concerned. He was saying basically this was universals reaction to the newest updates to Disney parks. I think it was a decent answer but still foreshadowed legit concern on his part to compete. "Look what we did!" If that makes sense. I trust they will hold their own. I'm not as good at expressing my view like Chris is but I think you know what I mean. Lol. 😊
Epic Universe question: Bob's answer that they have been in a methodical cadence over time was a stretch. Of the rides he mentioned that were new Tron and Remy were the only ones that address new capacity, the others and more are just re-themed rides or an exhibit. Epic is and entire park addition and that doesn't even address the multiple other complete parks that Universal is adding around the world. The Disney parks that are co-owned in Asia are putting the States to shame, why do you think so many UA-camrs have been going to Disney parks abroad and being amazed at the quality there, it really is kind of depressing, I love Disney. Oh yeah, the cost is also killing the experience.
This whole thing is why I believe that shareholder profits should never be the priority. Not good for workers, especially. Also, I’m no fan of Bob Iger, but I feel like his answers were fine. Not disclosing how they will specifically spend the $60B is fine with me. Probably, as you said earlier in the video, saving it for D23.
Several points from my view. 1) Iger picked Chapek which accelerated the decline in the company. 2) Iger has the support of the majority of the shareholders but Wall Street investors feel differently. 3) My understanding is that the $60B investors is across all divisions. It was not clear what portion of this investment was actually going to WDW. WDW is already behind US-Orlando in guest experience. In 2025- 2026, US-Orlando is going to be light years away with new parks, more up to date guest experiences and better prices. Disney Parks in the US facilities and maintenance are sub par and reflects the corporate approach to cutting expenses while jacking up prices. 4) Disney is running on their reputation since it is apparent to everyone that limited guest experiences, parks in sad shape and the crazy prices have convinced my Disney fans that Disney no longer offers a premium guest experience at a reasonable price. My thoughts is that Disney will continue the slow decline and guests will vote with their feet and pick other destinations.
A) I suspect that he didn't want to prepare as heavily as he would have had to for open questions. B) He obviously had points he wanted to hit, and was concerned that he wouldn't get an opening for them. C) I think the questions that weren't asked likely say at least as much as the ones that were. Personally, I'd have asked if they intend to contribute to any political campaigns in this US cycle, as they have in the past.
Thank you so much for explaining this so well! Really appreciate it. On the funny side, after what you went through in Vegas maybe you shouldn’t use words like regurgitate! LOL LOL appreciate all your videos so much. Keep it up.😊
Chris I believe what you asked us to do at the beginning of the video is not currently being done with the Disney board of directors. A lot of yes and little to no oversight or pushback. The Q and A was an extremely bad look. It was done to address any concerns based on the proxy vote and was a selling pitch and to buy some time. I think a lot of money was spent on this proxy vote combined, and I do not believe it will move the needle. A succession plan needs to be done and to put into place and it keeps getting kicked down the road. Great video Sir.
They don't have any tangible plans for the future other than knocking down pre-existing attractions and rrplacing them with something cheap or paid experiences. That's why Iger alwasy uses suggestive words like can, could, would, and possible
Staggering the openings? Okay I’ll plan a five day trip to Orlando spend 3 days in Universal and one day to experience the “staggered opening” of a new attraction at Disney. I’m planning a trip in Aug and I’m seriously thinking about spending the bulk of my time at Universal and possibly spend a couple of days at Evermore, with one or two days in the Disney Parks
I believe you, Chris. These questions were not random. I think the Disney board generated these questions. I was wondering if legal action could be taken against the board due to the leak of the voting returns before the actual vote finished? I believe Disney is not listening to its patrons both at their parks and movie goers. I saw a UA-cam video where they showed rubbish just laying around in the parks. I remember being in the parks and they were so clean. As soon as something was dropped a cleaner was there in no time to clean it up. I don't like all of the DEI in their movies and streaming shows. As for the $60m being spent on parks, wasn't most going to international parks and not USA parks? I'm saddened that Peltz didn't get on the board.
I really don’t believe there was a leak. I wasn’t paying 100% attention, while CNBC was talking about the vote tally; but I believe they mentioned that they had spoken to several of the major stock holders (investment houses, etc.), and asked them how they were voting. As Chris mentioned in the video, investors are free to make public how they voted.
Sounds to me like these were planted questions that Bob Igor could answer the easiest and best way. I don’t think these were all shareholder questions.
Most of these planted, pathetic questions had even more pathetic answers. Disney takes 3 lifetimes to do one ride and Universal is passing y them by. Disney is not "special" anymore, you don't feel special there.. They've cut far too much.
@@Natalie2000 It's far too expensive for the average Disney fan. The last time I went was in 2017 when I had an annual pass. They raised the price since then.
Most question were fine for me but, All his answers were pixie dust, smoke and mirrors. If I were a share holder I’d be angry, as a consumer I’m baffled with wishful thoughts. IMO… Disney is involved and up to their elbows in pushing discriminatory social ideology’s, we all know this to be true, and it’s the reason they are bombing financially. Bob knows this as well, it’s why he didn’t take questions directly because he knew this would overwhelm the Q and A. And given that they just announced the new fantastic 4 movie having a gender swapped silver surfer, right after the proxy war, says to me that they are still in it and continue to do it for that perfect ESG score and money. With a heavy heart I feel that Our traditional, wholesome and inspiring Disney entertainment is gone.
Well, are they gonna make any changes? to benefit the consumers and not just their pockets? We went to Disneyworld and Hollywood studios and we were horrified of how expensive everything was, there was no standby line for Tron, we had to use that lousy app and pay extra to ride it! What? The Rise of the resistance broke down for about an hour, the Haunted Mansion ride broke down for about 35 minutes, do they have preventive maintenance, or do we have to pay extra for that too, let me look at that lousy app again! There is no fun in that, kudos for the cast members, always smiling no matter what. Love your videos, Thank You.
Good analysis on the stocks Chris. What i cant understand, is how Iger speaks so poorly of and about Peltz? This is a man who LOVES this company..anyone who doubts that should be able to understand that by the amount of stock Nelson owns.(put your money where your mouth is right?) As far as the questions, It was interesting that the first question was politically based. Why doesn't Iger as CEO understand the political agenda the company is pushing is the problem. The huge box office losses have drained the money that wouldve gone to improve the parks and everything else.
The markets expected Peltz to grab 2 seats and his focus would have been on shareholders profits, when he was unsuccessful the share price dipped slightly but nothing to worry about.
Sure, there’s nothing to worry about, they just destroyed all their big franchises, all their movies last year were monumental flops or underperformed and WDW is going to be destroyed by Universal next year. No big deal, at least they must have a very high ESG score.
I love how Disney upgrades and takes care of their parks. I'm excited for epic universe but they could have concentrated on upgrading their two other parks. I love Harry Potter World and seuss landing, but that's about it.
Yesterday was a failure that only magnified Disney’s weakness in the marketplace. So, Bobby Iger seriously cited completed attractions, some several years old, as future competition for Epic Universe opening next year? Really? And going against tradition, we were treated to pre-picked, AI-read questions replied to by Bobby with pre-recorded answers? As a stockholder, I’m ticked off. And Moana 2, once a Disney+ show, is now a fall tentpole theatrical release? It takes many years to bring a top quality theatrical animation feature to the screens. We’re talking a shockingly quick flip from TV quality to movie theaters. This announcement last earnings call was an obvious desperate move for Disney has no major anticipated theatrical offerings, other than Deadpool 3 (greenlit by Bob Chapek, not Iger). Iger was full of tap dancing yesterday. Leaving the call, it was clearer than ever Peltz is needed.
Honestly pathetic. Iger is going to bring the company down in flames. I'm not a businessman or even a shareholder, but the way I see it, (With my own amateur and limited knowledge) Disney's best bet would be to sell off most of the properties they've acquired, to get rid of the bleeding hot potatoes that are Marvel and Star Wars, and focus back in on their core brand. Also, invest as much money in the parks and guest experience as possible. The parks are what kept Disney alive when none of their movies made money in the 70s and early 80s
@@officialmonarchmusic It’s no longer the Walt Disney Company; it’s the Robert Iger company. To do what you outlined would have Bobby admit mismanagement and defeat. His ego and hubris would never allow it.
I wasn't aware until recently The Color of Money was a Touchstone (and therefore Disney) film. And that Paul Newman got his acting Oscar, therefore, in a Disney film. I recall an older gentleman being upset at a Pixar shareholders' meeting that the company had made The Incredibles and worried they were wandering away from G rated movies. Can't make everyone happy…
Hey Chris, what is your gut feel…. Do you feel there is any chance or much of a chance that the reservation system will go away at Disneyland this year?? Thanks again.
@@provostparkpass sadly, I fear you are correct, Chris. 😥 I really hope we are both wrong and Disney does get rid of the reservation system and at least pretend to care about the guest experience again. You’re the best! Thank you for the great content and for being such an amazing person!
While I agree with most of what you pointed out, you have to remember that this is a shareholders meeting. It’s all about pleasing the shareholders. That’s really where every major company in this country is going they don’t really care about the public. It’s all about making money for the shareholders.
I believe that it was ALL “smoke and mirrors”. I believe that Iger (and company) had a list of talking points that they wanted to share, especially that quickly after their “victory” after the BoD vote. Kinda like the game show “Jeopardy”… Here’s an answer, now we need to find a question that satisfies the answers (talking points) thru either AI, or (highly doubtful) shareholders actual questions. That’s probably why (and I agree with you on this) NONE of the answers really 100% identified with the question being asked.
Question - is this legal to prescreen questions and then pick the questions or make them up? This seems like a scary slippery slope for publicly traded companies to do since you can easily manipulate it. Thanks, SO appreciate this video and how you explain things!
This is the year that my family gave up our annual passes. Disneyland is no longer a family oriented park and it always feels like they are just interested in draining our wallets. You have to pay to get into the park and then pay MORE to get onto the best rides.
I think it's important to keep in mind this meeting is for shareholders not necessarily fans (Black Rock, vanguard, etc.) Iger is addressing mostly an audience who are looking for profitability and shareholder value which can often conflict with those of us super fans. I feel like we get hyper-focused on one aspect of the company looking for any crumbs of information and then crying foul when we don't get our expectations met. In my opinion, yes, Disney is competing with Universal/Comcast but only on a very small scale when you consider how vast Disney is. As the adage goes the sun never sets...at Disney parks. Globally under the banner of Parks and Experiences, it's not even close to the scale Universal is puttering around with (again not domestically because this is a much bigger company than just the United States). The Parks and Experiences division has added multiple lands, multiple attractions, multiple ships and so forth all to provide maximum shareholder value and profitability. Everything they announce, from time frames to what platforms is very carefully considered and it's not just because someone down the road is opening an additional park. As too the Q&A, I would be curious about what your thoughts are on the possibility of this being generative AI that looked across many questions and formulated these answers based on certain topics that were covered more heavily than others but also certain targets that they wanted to hit all handled algorithmically to narrow down the choices.
Epic Universe Rides: Starfall Racers coaster Constellation Carousel Mario Kart: Bowser's Challenge Yoshi’s Adventure Mine Cart Madness coaster Monsters Unchained dark ride Curse of the Werewolf coaster Harry Potter dark ride Hiccup’s coaster Dragon Racer's Rally Fyre Drill boat ride Disney World: Flight of Passage Na'vi River Journey Rise of the Resistance Smuggler’s Run Toy Story Mania Slinky Dog Dash Alien Swirling Saucers Ratatouille Runaway Railway TRON Lightcycle Run Cosmic Rewind Eleven rides for both. Of course we don’t have all the details of the Universal rides. Although we do know some things. But I think Disney’s lineup stacks up pretty well.
Also, I think there are aspects of this that Iger just can’t say….I’m sure they have additional strategy they can’t disclose. Openings of new things are staggered to keep getting people to come back. It doesn’t make sense for Disney to go head to head with Epic’s launch. But their next big thing is at Animal Kingdom, which is where they probably anticipate any potential fall off in attendance to occur.
And you think that Universal didn’t open any new attractions in the last ten years? Pandora for instance was built to counter Harry Potter at Universal Studios, not Epic Universe. WDW is going to fall behind Universal after 2025, that’s for sure.
@@KforFreedom Disney is taking at least five years to be an attraction after an announcement, so their “reaction”, if there is any, is going to take way too much time. There’s no big thing for Animal Kingdom at all, they’re just going to turn Dinosaurs into Indiana Jones, a Disneyland attraction from the early 90’s that uses the same ride system and, even it it is a very good attraction, it’s nothing new and it doesn’t have anything to do with Animal Kingdom.
I’m very puzzled by the “No Con” drop in the stock price. I believe the Peltz Army was larger than was portrayed. Obviously, the case was not helped by Elon Musk’s promise to buy up shares if Peltz prevailed. Another puzzlement! Thank you for your concise and clear explanation of events. I really enjoy your channel. I hope to run into you at Disneyland someday. Go Padres! 💕
If I was a stockholder wearing my stockholder hat, some of these are questions I'd want answered like plans to boost Disney+ revenue or plans to keep the parks competitive. But high school internships & women's sports? Possible somebody asked, but I don't see them being one of the stockholder FAQs. I do see them being planted by Disney. The Taylor Swift question could have been answered with the streaming question. It was answered separately because she has the most marketable name on the planet. The format it was done in lacks authenticity. Not that I think anyone was being deceitful or anything. But there's an openness when things happen live that doesn't exist in any other conditions.
It sounds like Disney is just going to continue with arrogant attitudes towards the people who support them. They want to continue to let the parks hold up the company while creating the same garbage on the entertainment side. They do not represent all sides of culture. There is nothing I want my grandchildren to see that they produce. It’s really sad there is no transparency and Wall Street cannot even trust them now.
I think most of it is waiting on the votes for Disney forward with Anaheim and D23. But there's hope if certain imagineers are back, think we just have to wait to see what happens with all this.
People are right. Bob Iger should go into politics with how he answers questions without answering them or giving them complete answers. Let's be real...they spent about as much time building just Moana than they did building all of EPCOT.
I still have confidence in what Imagineering is capable of, and think with the grudge match with DeSantis over and Disneyland Forward hopefully getting the green light soon, I think we’re going to be seeing some great things and real momentum.
I'm ok with that short answer because if he doesn't want to add to the blue sky discourse, then I'd rather be patient and let them present something more tangible. Something we can legitimately get excited before because the dioramas are built and concept has a firm date of construction.
Thank you Chris. It was nice and very informative. I didn’t know A from B. I think the questions was created so he can look good or he thinks he is. I am not happy the way Disney is going. I don’t watch the new movies. I think the Disney company decided to change things to be cool but it’s not. The cast members standard dropped tremendous. The 1st time I visited Disney ( it was Disneyworld) I was 26 ! And it was magical ( I am from Brazil I was traveling with my dad) the park was spotless. The C. M were very special. I can’t say the same thing today. Sorry for babbling! Thank you for your honest input!
I’m just interested because I take Disney as a “Model System” of American capitalism and general zeitgeist and I feel you and some other UA-camrs are able to describe it competently.
I think the weird mostly comes from the fact there's two groups of "public" involved here - shareholders, and fans. of course a lot of fans are technically shareholders, but the priorities and info each group want are different. Shareholders want profit. Fans want the best experience, maximising profit isn't the priority. Honestly in my opinion, prioritising the fans is actually the better long term strategy, as that loyal fanbase is going to keep on spending and spending while they feel Disney has something special for them. Shareholders are gonna sell and invest elsewhere as they see fit. Something like free Fastpasses vs Genie +, would be absolutely dumb to someone only intrested in the quarterly profits. But most fans, most theme park guests, would tell you how the simpler free system made the experience so much better, made their trip much better, made Disney theme parks better than the rivals, so they're more loyal for years to come!
I found it odd when asked about high school students receiving an opportunity about learning the business side of Disney. Disney already has in place the college program which allows college students to gain professional experience within the Disney company.
@19:50 re: the answer about not sharing details yet ... I've seen countless videos bemoaning the various "broken promises" from Disney after they announced a big project and then had to scale back or outright cancel it later. For example, Epcot Phase 2, the Mary Poppins attraction, Westcot, etc. While I get that it isn't necessarily the best look to not be willing to answer the question, it's entirely possible that they just wanted to avoid another broken promise when trust in the company and leadership is already shaky ...
They’re DEFINITELY not random questions, and it’s wildly disappointing that Disney’s confidence was SO LOW that they didn’t think they could take them live. I’m much more interested in the questions they actively chose NOT to answer. As a shareholder, literally everything about this meeting was disappointing.
I may give some point to Disney on not being specific on new attractions, lands, etc IF the decisions can't be complete until submitted plans are approved. But there is a better way for Iger to answer this.
i would also point out,no question was the questions written for him...but they in turn showed that disney is listening to the concerns people have...im sure more than one shareholder asked about universals "epic universe"...a question quite touchy right now....to even address it,shows disney is listening.by the way...disneyland forward is looking really good right now...the anahiem planning commission has already passed all the zoning changes disney wanted on their property,and it only has to be approved by the city council now.
First off I appreciate that you provide this content. Keep up the great work that you do. Below is probably going to he a long reaction to the video. Disney is in a difficult position right now. Iger has been having to spend A LOT of time and resources fixing Chapek's screw ups. Then add the strikes in Hollywood and you have a cluster f*** of epic proportions. Iger put his foot in his mouth with the strikes and that did him no favors. The Q&A was definitely done in a way that Iger could answer without any detail. I don't think it was AI, but fully hand picked. Nothing random about the choice of questions. I don't think he was on camera because the public would be pulling apart every little thing it could. I am glad Peltz did not make it on the board though. 1. Streaming is not the money makers people think it is. I don't think Disney should have released their own platform. They already were in partnership with Hulu and they were aquiring Fox when they launched Disney+. I think they jumped the gun. Disney has a decent share of viewers, but they are not going to reach Netflix. Get rid of the seperate playform and just have the add-on to the Hulu subscription. 2. Disney parks are still special. You just can't make everyone happy. I agree that some of the magic has been lost. I also think our mindset as guests has become a little clouded, too. Nothing is what is was in the past. 3. It takes so long for anything to be accomplished. Some fault lies with Disney and some of that is out of their hands. EPCOT changes, adding Tron, re-imagined shows are all good things that have come to the parks. My problem at WDW is on property hotels and general park maintenance They are spending all this money on adding DVC while prices for Value and Moderate are ridiculously expensive. Rides should work with less diwn time and all aspects of the ride as well. Universal is only now adding a 4th gate. WDW has 4 gates, 2 water parks (although currently only 1 running now) and a superior shopping district. Universal is not for everyone though. I'm an overweight person that doesn't fit on all the coasters at Universal. I was there in 2021 and was really disappointed. I could ride everything at WDW. Undoubtedly because WDW doesn't have many thrill rides. Here in California Disney is hands above Universal. Outside of the US Disney ranks as some of the best theme parks within their given countries. 4. The studios are rough. There have been many bad decisions including spending WAY too much money. They do need a shake up with the execs in the studios. Who needs another Toy Story or live remake? The answer is no one. Box office numbers to movie budget doesn't support these choices. 5. Again, you can't nake everyone happy. "Keeping the same values" is a problematic question in itself. My values might not align with yours. Walt has been gone for over 50 years and the US has changed socially in those years. 6. It's been less than 1 year that Disney announced the $60 billion dollar investment for the parks. DisneyForward has been in the works for how long? How long did it take for the expansions in Hong Kong and Tokyo? We want new things and we want them now. Guess what - it doesn't wirk that way. Have you ever done a renovation on your house? Multiply that by the power 0:07 of at least 1,000. 7. Disney doesn't need to do things for high schoolers. They do quite a bit already. 8. This question is because of DeSantis and Florida. Also people politicizing LGBTQ+ issues. Every business is mixed up in politics in some way in modern day. You can't get away from it. 9. I don't know much about what ESPN offers. I know that womens sports coverage has continued to be vastly lower than mens. I think Iger just wanted to present that he's aware that womens sports are being requested more. 10. Who cares! Taylor has mot signed an exclusive with Disney that I'm aware of for her concerts. Does Taylor even know when she's going to next release a tour movie?! I won't say that I'm optimistic after hearing reports from the quarter earnings. I think Iger is cery aware that even though this is for shareholders the public is also going to go over the meeting with a fine toothed comb. I look at Disney as a multi billion dollar company that is trying to keep everyone happy. Keeping the shareholders happy is not the same as the general public that consumers Disney products. I think Disney has aquired beyond their capability. Adding Marvel, Fox, Star Wars and buying out the rest of Hulu was over ambitious. Chapek was a bad choice that we're only just starting to get out from under. Bergman and Walden have been asleep at the wheel in films and streaming. More misses than hits. Disney has to work on public opinion while making money for shareholders. Invest in Cast Members so park experiences can be more magical. The CMs are what can make or break a day at the parks. Hiring and training need to be improved. There are many stellar CMs but there are also lots of meh ones, too. When you feel valued as an employee you'll get better performance. My hope is that Disney, especially the parks, can remain a favorite of mine through my lifetime. I consider my self a Disney Adult and I don't have plans for that to change. I might not be able to afford to go to the parks iften but they remain my choice if happy place to visit.
I believe current mgmt can turn the ship. I also think dsny’s largest ROI on future productions is going to be FX/Hulu where they can make edgy dramas. I don’t know if their market for Princess films is looking that great. A lot of remakes, Toy Story 5, frozen 3 etc does not engage a new viewer. New Disney animation/Pixar stories need to be developed. More adult themed, thrilling attractions in the parks would help-millennials and gen y are not having children at the rate of previous gens. Marvel and SW haven’t done much to keep faithful fans engaged lately. Looking forward to Deadpool3 to save the MCU. Andor season 2/3 is the only thing keeping me on D+.
The Disney presentation during the meeting was akin to an intern throwing something together at the last minute. Which is strange bc the stuff they released today with the animatronics & the Imagineers’ trip to Central America would’ve been much better to release than the clips they did.
I doubt they were actual questions from stockholders. They were opportunities for Igor to do some Disney PR.
Just because our opinions don't match don't mean I don't have over 1100 shares on book entry with Schwab…
Thank you for being objective and honest Chris. I appreciate you for not sugar coating or covering for Disneys bad choices like alot of influencers do.
It is suspicious how each question touched on a different facet of the Disney company. Giving Bob Iger a chance to promote or highlight something. The questions were questionable.
It felt like some of those questions were softballs, and the answers more PR spin than substantive responses. I love Disneyland, and I loved the Disney company of my youth, but the current day company feels well removed than the one Walt built.
Disney is on a path that does not sell to the general public, and that's a BIG problem.
No corporation does, it’s all about the shareholders. What’s good for shareholders - I.e. if Nelson Peltz had of got his seats - is bad for us consumers.
The results of this proxy battle is sadly the best outcome for us consumers, even though it doesn’t feel like it.
Then whom do you suggest they are selling to?
i think the problem is folk's refusal to include EVERYONE as "the general public"
Disney doesnt want too many people at the park. It used to be accessible to everyone. Now they can't sustain low dollar spenders so they are making a barrier of entry
@@MichaelCharles-zn6rh Disney was always for everyone. Their belief that force feeding ideology and vilifying anyone that does not like what they produce for any number of reasons has turned them from being for everyone to only being for those that praise their message.
You are correct Chris those questions are in no way random. They covered only what Disney wanted put forward and the answers were very general or vague to me. Thank you for the information.
Thank you for the breakdown. I don't trust any company that screens their Q&A.
Good point!
Appreciate your honesty and bringing up valid questions that are not being readily or clearly answered for shareholders or the public.
Chris your facial expressions towards Igers answers killed me, thank you for what you do
You were VERY kind in your assessment. I think you may have given Disney / Iger the benefit of the doubt. I do appreciate you bringing this issue to a group that may not be aware of the concerning direction of the company.
Thank you for covering this crazy call truthfully and not just saying “yay! Iger won” like so many others are. There was nothing live about that Q&A portion. I agree that he was probably given the “questions” beforehand. I’m sure Bob probably recorded the answers multiple times until he was happy with them. To not even show your face is disrespectful to shareholders (but I guess you might not want to if you’ve prerecorded your answers). These questions were crafted so that Bob could have talking points about all he’s doing/done and showcase what he wanted.
The fact he’s unbothered by Epic Universe is a little upsetting- WDW isn’t being maintained and these “expansions” and whatnot are all blue sky. Epic Universe is going to be family-oriented, immersive, and isn’t taking 10 years to build. And Universal is updating and creating new offerings in their other 2 FL parks-and, again, not taking years to do it.
Iger spent $40 million on the battle, trashed Peltz and Rasulo, and just played dirty (and George Lucas and the Disney family endorsing Iger was so fishy- they suddenly changed their criticism of Iger and the company?). Peltz isn’t going anywhere. If Iger doesn’t deliver (and he won’t), Peltz will be back and might have Elon with him. Frankly, I hope so b/c I’m sick of blue sky promises, price hikes for everything (D23, park tickets, merch, etc.) and excuses. Peltz’s campaign was called “Restore the Magic” and I think that’s what’s needed. Walt wouldn’t recognize his beloved company.
I believe that George Lucas wife is on the JP Morgan board who backed Iger, so i wonder how much of George Lucas statement backing Iger was actually coming straight from him, it is fishy
I know you probably get this a lot, but add my voice to those who appreciate your reporting of what is going on as well as your analysis and breaking down the situation. Thank you!
When it comes to peoples current views of the Walt Disney Co., critical thinking seems to go straight out the window. I’m not on board with everything the company has done over the years, but it’s clear as day that the negative views of many people are majorly influenced by social media, politics and ‘culture wars.’ Having a few preplanned questions isn’t worthy of Watergate level suspicion, and as you mentioned D23 is the stage for major announcements. It’s just my view, but perhaps the attempt to start a hostile takeover of Disney by Peltz, who is overtly political, exhausted everyone involved. The stakes have never been higher for Disney and the pressure has been intense which may explain avoiding random callers. What’s humorous to me over the past few years are the supposed anti ‘big government’ politicians telling a corporation how they can and cannot run their own business. I would love it if people could get back to having viewpoints that aren’t so influenced by negative outside forces that continually seek to divide us. Life is short, Disneyland is fun, and I still believe in the magic and the positive future of the company. They’re imperfect like each and every one of us, so here’s to more understanding and less hate.
Why in the world would they pick a question about Taylor Swift when there are so many upset people about the way the parks are being managed! They missed a great opportunity to provide comfort to Disney fans and to the people that have help Disney be successful. Thank you Chris for all your thoughts and insight.
Really great analysis. We're biased, but I always like it when you talk the business side of Disney. - JJC
I don't agree with the answer about political and social agendas. Because there actions
speak louder than words. Thank you Chris.
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Thanks for this, Chris 🙏🏽 Appreciate the distillation - You speak my language. My unconditional Love for Disney is rooted in their origin story, animated movies, and Disneyland....not in their business dealings. However, your summary of the shareholders meeting is important and it's smart to be within the friction of what's going on. Cheers to many more videos from Provost Park Pass!
I have absolutely no faith in in Disney right now not when it comes to to movie, parks, anything there makes bad decision after bad decision it’s incredibly frustrating
It’s getting worsen for Disney in anything as time goes on
Go to Universal instead
The new news from Disney upcoming project is getting me excited
I disagree. I really feel they have turned the corner and especially now that all this nonsense is over.
@@FunAtDisney well if you feel that way I strongly urge you to do your homework because only a fool would think they turned a corner it will get worse but that’s your opinion you can only lead a horse to water, but you can’t make it drink 😁
It sounds like disney is taking a play out of the whitehouse playbook, with the pre selected questions 😂
I always appreciate these breakdown videos. Thank you Chris. 😊
Glad you like them!
Thanks for explaining everything Chris.
You bet!
This was the first time I have listened to a shareholder meeting and I was surprised that no one was on camera. I also thought the AI read questions seemed odd, but I don't know any different since it's my first one. I am glad to know my instincts were correct.
Regarding the stock price drop, I bet Trian and / or Blackwell dumped a bunch of stock when the results were announced.
Thank you for this, chris! Love the channel
I think Disney is in a tumultuous position right now, and Iger knows it. He doesn’t want to add fuel to the fire. This is why the questions seem prescreened and answerers rehearsed. The problem with this approach is it’s adding fuel onto the fire anyway. No one wants a CEO who is afraid of the public opinion. We had that with Bob Paycheck. He hid from fans in parks and was afraid of being heckled offstage.
The Universal question is quite alarming. The question was aimed at what Disney is going to do. Instead Iger deflected and pointed out the things they have done in the past. This leaves a bad taste in my mouth. It gives the impression that WDW would never have improved or expanded without Universals competition.
The investment question is also troubling. Given the answer we were given, I don’t think Disney has any “home run” ideas they are willing to put on the table. Which means they still dont know what to do. Which has been my opinion ever since Paycheck was CEO. The prolonged construction seems like a way to forestall future development. They lost HALF of Imagineering with the Lake Nona disaster. Because of this decision, Disney is creatively BANKRUPT. This is why Bruce Vaugn is back, and they are seeking mentorship lessons with Joe Rhody. Disney hasn’t been innovative for quite a long time. They have been in a reactionary phase instead. This is proven with OLC. Japans parks are out performing the domestic parks in terms of development and innovation. We haven’t seen a tenth of the effort OLC has done in the past decade.
I used to worship Bob Iger for being a brilliant businessman and innovative leader. But now I am second guessing everything he has done.
Thank you Chris for breaking down the shareholders theatre production. That's it. This wasn't a meeting, it was a Disney Business production. From the voting to the supposed leaks, it was all for Disney to flex and aggrandize themselves. All the shareholders had to watch was a show where Bob Iger touted the many accomplishments of Disney. The scary thing for me was that there was no mention as to whether the theme parks will become more accessible to the masses. This indicates that the Disney Magic will only be available to those who can afford their royal prices.
Now, was it a perfect meeting? Of couse not. Regardless of their flex, they had to and will address their flaws. When faced with the question about Disney's competition i e. Epic Universe, it was clear that Bob had little to no answer to addressing the future juggernaut.
Finally, with their question of suitable content, you can tell that Disney is in panic mode. So many of their set in stone projects are being removed, with little to no word.
So, my opinion? The meeting was a Disney pep rally 😅
Chris, I always appreciate your videos that try to break down the business side of things for folks. There's many things in our modern world that are in the news that are legitimately complicated, but the education needed to understand them is assumed.
Bob did a great job to convince everyone to not buy and sell sell sell. At this point I am wondering when will it be time to say goodbye to an old good friend. I for one am very sad😢
I gave up on my annual pass when all the these new annual pass system stuff came in. It was fine as it was, they just needed to watch the guest counts. Because some days they let too many people in. I may sell all my stock and this is the first year I have no love in my heart to got to D23. Especially how they changed it.
Hi Chris. We are tiny-shareholders and are so confused as to what did the answers actually clear up! A lot of double talk. Our love for things Disney hasn’t changed but confidence in the company CEO not so much.
Just sell it and buy Comcast.
There was a plethora of double talk!
@@marcoantoniogarcia38oh no, we will keep it… it’s a tiny bit of Disney that we love. 😊😊
I think the proxy battle would've swayed towards peltz if it was 3 months ago. He would've definitely got it if it was this time last year. But once people like George Lucas,Michael Eisner, etc. came out in support of Iger. It was hard to recover from that.
The questions were terrible. Overall, all im worried about is that this could make D23 not as major as an event. I feel like they dont have to go as hard anymore. They won the battle. They'll announce stuff, but not as much, I fear. Great video, as always, Chris.
Very very sadly, my wife, daughter and myself have made the decision to not renew our passes when they are up for renewal (I know Disney won’t care). Just too many things adding up that just make it not fun anymore… If they got rid of reservations and Genie+ that would be a great start, but I don’t see either of those happening.
Genie Plus is a great tool. They did away with reservations in Walt Disney World.
They definitely don't care at all. One thousand other people will happily take your place and they will probably pay $1500 per ticket to do so. I feel like Disney could charge people 2 grand per ticket and people would still flood the parks.
@@Coast2Coast88 Not in Orlando after Epic universe opens, and most Californians are struggling to pay rent, so I don’t think so.
@@marcoantoniogarcia38 some of the wealthiest people in the world live in California.
@@Coast2Coast88They represent a very small percentage of Californians.
You’re an outstanding UA-cam channel.
Please tell me you were a school teacher/college professor at some point. You’re so good at breaking things down!
Chris, it seems to me that Disney is still just reaching out and grabbing ideas in hopes that one of them takes off. At the same time, they are really trying to appease a small group of people with their new way of production. Hopefully, you understand what I'm saying. Some would reference a "going broke" slang to describe this.. What baffles me is the fact that Disney has done some fantastic things in the past, and fairly recently, might I add. Still, they are just entirely going away from what has brought both the consumer/customer happiness and the business success. One thing I have learned in business is "if the client is satisfied and happy, I'll be successful." And as a voting member, haha, I think Disney needs to actually listen to their consumer base and not just say they are.
"Go broke, get woke, ultimately croak."
Hi again! I went away from this video and all the info given saying “wow! What is Disney doing!?” I already knew that they were treading water in a sense (maybe that’s a bit extreme to say) but personally I expect much bigger things from Disney. I think that the questions were NOT randomly chosen. I think that the answers were vague and very disappointing. Seems like Disney is focusing more on the ESPN app than anything else because they need something big to bounce them back into play financially speaking. I also don’t think that Disney was intentionally adding new rides and attractions as a way to compete with universal along the way, but as a way to keep up appearances and now they have nothing substantial to offer to compete with universal studios and are just saying that they did all along. I think Disney may 1) either be panicking and don’t have a solid plan yet or 2) they think they will automatically always be better than universal no matter what and don’t care. The 10 questions were just pre chosen to be a look at me, look at me thing to sugarcoat everything and keep fans at bay a little longer. I’m still a Disney fan and hope they up their game.
I love your business side of Disney videos! Keep 'em coming. I think that if they submitted a gazillion questions to an AI generator these are the kind of questions they would get to choose from. What puzzles me the most is why Bob Iger was not live speaking off the cuff like you would expect at a shareholders meeting. To me his answers seemed well planned to appease the small shareholders who would be listening for answers that would address the concerns they had. I am a Disneyland person...I was looking for answers to what I think would rekindle The Magic. It was addressed but I'm not sure what he was promising.
Disney isn’t answering any of the questions we really want to hear and it’s frustrating. It feels like they are ignoring us and giving us answers a politician would answer. If they keep not listening to the fans then hopefully their stalk prices will drop and they will start listening.
Thank you so much for these breakdowns, i really like the business side of this as well because its the backbone of Disney and ultimately dictates if Disney is even allowed to create more and bring more magic to the world. I'm a hobby investory and own Disney share and dont want to read through the financial statements. Love you !!
I want to know why they're investing more in technology than in their human workforce.
In the video game industry, there are 3 phases when it comes to popularity amount the three major consoles. “Climbing the mountain” “king of the mountain” and “fall off the mountain” and right now it feels like universal is climbing the mountain and Disney is falling off the mountain.
Climbing Thunder Mountain, King of Space Mountain, falling off Splash Mountain.
All three options for the shareholder vote weren’t great.
But as someone who has family members who worked at a company acquired by Peltz businesses, I am so very glad he didn’t get his seats. Sure he’s good for shareholders, but for the consumer and especially for workers he is pure evil. Ultimately, every business he’s involved in cheapens product quality, bumps up prices and cuts down staff significantly. He ruins lives while increasing share prices. Pure evil.
Although I’m no fan of Iger, the Disney proposal was the lesser evil. The entertainment industry is in massive flux right now, and every corporation doesn’t really know how it’s going to go and is just trying to make educated guesses and try to spend money on safe things.
All of the questions were pre-submitted, so of course they went for the easy answers and probably took time to script answers, it’s how they all do it now. I urge people to look at pretty much every investor meeting now, it’s all gonna be the same.
Thank you for your comment! I'm kind of surprised everyone is just on the pure bandwagon for Peltz in the comment section here.
There is sooo much more nuance to this shift in the entertainment industry and not acknowledging this simplifies the problems to the point that won't actually fix anything.
Key prhase: "Lesser of two evils." There was a clear calculation on this front and Peltz was not the right person for the job.
@@jrob5465 that’s the thing about this whole thing, and with Disney as a whole in recent years. There’s so much nuance, so much wider context and so much media circus to fight through.
I’m not surprised that people fell for the Peltz patter, he spouted words and terms people wanted to hear ‘restore the magic’, and it’s amazing how easily people can get taken in by words and not actually look in to the person, their dealings and who they work with. Peltz ultimately would have been the worst case scenario for Disney and luckily he killed his chances with his Black Panther comments.
Yeah, its a good thing Peltz did not get his seats for sure. People who wanted him clearly don't know much about him.
I currently work in PR for sports and have for awhile. If I were on the PR team I would've "let" people submit questions but the PR team already created questions for him. The questions all had a similar tone/writing style. Its the PR team's job to try and control the narrative so what better way than to pre-record his answers.
I think on the 3rd question his answer seemed honest but did shadow a genuine concern about epic universe. He does have a valid point about his staggering of attractions in the last 10 years. But I think they are still concerned. He was saying basically this was universals reaction to the newest updates to Disney parks. I think it was a decent answer but still foreshadowed legit concern on his part to compete. "Look what we did!" If that makes sense. I trust they will hold their own. I'm not as good at expressing my view like Chris is but I think you know what I mean. Lol. 😊
Epic Universe question: Bob's answer that they have been in a methodical cadence over time was a stretch. Of the rides he mentioned that were new Tron and Remy were the only ones that address new capacity, the others and more are just re-themed rides or an exhibit. Epic is and entire park addition and that doesn't even address the multiple other complete parks that Universal is adding around the world. The Disney parks that are co-owned in Asia are putting the States to shame, why do you think so many UA-camrs have been going to Disney parks abroad and being amazed at the quality there, it really is kind of depressing, I love Disney. Oh yeah, the cost is also killing the experience.
I'd consider cosmic rewind a masterpiece even though it replaced an already existing ride.
This whole thing is why I believe that shareholder profits should never be the priority. Not good for workers, especially. Also, I’m no fan of Bob Iger, but I feel like his answers were fine. Not disclosing how they will specifically spend the $60B is fine with me. Probably, as you said earlier in the video, saving it for D23.
Several points from my view. 1) Iger picked Chapek which accelerated the decline in the company.
2) Iger has the support of the majority of the shareholders but Wall Street investors feel differently.
3) My understanding is that the $60B investors is across all divisions. It was not clear what portion of this investment was actually going to WDW. WDW is already behind US-Orlando in guest experience. In 2025- 2026, US-Orlando is going to be light years away with new parks, more up to date guest experiences and better prices. Disney Parks in the US facilities and maintenance are sub par and reflects the corporate approach to cutting expenses while jacking up prices.
4) Disney is running on their reputation since it is apparent to everyone that limited guest experiences, parks in sad shape and the crazy prices have convinced my Disney fans that Disney no longer offers a premium guest experience at a reasonable price.
My thoughts is that Disney will continue the slow decline and guests will vote with their feet and pick other destinations.
Like politics, the best thing for Disney would've been some different points of view on the board. But like politics, those in charge don't want that.
Absolutely!
What sort of views would you like to see included?
This was the shareholders voting, not the company itself.
A) I suspect that he didn't want to prepare as heavily as he would have had to for open questions.
B) He obviously had points he wanted to hit, and was concerned that he wouldn't get an opening for them.
C) I think the questions that weren't asked likely say at least as much as the ones that were. Personally, I'd have asked if they intend to contribute to any political campaigns in this US cycle, as they have in the past.
Thank you so much for explaining this so well! Really appreciate it. On the funny side, after what you went through in Vegas maybe you shouldn’t use words like regurgitate! LOL LOL appreciate all your videos so much. Keep it up.😊
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Chris, you are a very engaging understanding teacher. Thank you.
Did Nelson sell shares after the announcement causing the stock to go down?
Love your video break downs. At this point. All I can say is, classic Disney, destroying classic Disney
I have chosen to not have Magic Key passes anymore.
If we can keep Joe Rhode around for a while all will be well!
Chris I believe what you asked us to do at the beginning of the video is not currently being done with the Disney board of directors. A lot of yes and little to no oversight or pushback.
The Q and A was an extremely bad look. It was done to address any concerns based on the proxy vote and was a selling pitch and to buy some time.
I think a lot of money was spent on this proxy vote combined, and I do not believe it will move the needle. A succession plan needs to be done and to put into place and it keeps getting kicked down the road.
Great video Sir.
They don't have any tangible plans for the future other than knocking down pre-existing attractions and rrplacing them with something cheap or paid experiences. That's why Iger alwasy uses suggestive words like can, could, would, and possible
Staggering the openings? Okay I’ll plan a five day trip to Orlando spend 3 days in Universal and one day to experience the “staggered opening” of a new attraction at Disney. I’m planning a trip in Aug and I’m seriously thinking about spending the bulk of my time at Universal and possibly spend a couple of days at Evermore, with one or two days in the Disney Parks
I believe you, Chris. These questions were not random. I think the Disney board generated these questions.
I was wondering if legal action could be taken against the board due to the leak of the voting returns before the actual vote finished?
I believe Disney is not listening to its patrons both at their parks and movie goers.
I saw a UA-cam video where they showed rubbish just laying around in the parks. I remember being in the parks and they were so clean. As soon as something was dropped a cleaner was there in no time to clean it up.
I don't like all of the DEI in their movies and streaming shows.
As for the $60m being spent on parks, wasn't most going to international parks and not USA parks?
I'm saddened that Peltz didn't get on the board.
I really don’t believe there was a leak. I wasn’t paying 100% attention, while CNBC was talking about the vote tally; but I believe they mentioned that they had spoken to several of the major stock holders (investment houses, etc.), and asked them how they were voting. As Chris mentioned in the video, investors are free to make public how they voted.
Sounds to me like these were planted questions that Bob Igor could answer the easiest and best way. I don’t think these were all shareholder questions.
Most of these planted, pathetic questions had even more pathetic answers.
Disney takes 3 lifetimes to do one ride and Universal is passing y them by. Disney is not "special" anymore, you don't feel special there.. They've cut far too much.
@@Natalie2000 It's far too expensive for the average Disney fan. The last time I went was in 2017 when I had an annual pass. They raised the price since then.
They're most assuredly planted, made up, or hand picked questions. Without a doubt.
Most question were fine for me but, All his answers were pixie dust, smoke and mirrors. If I were a share holder I’d be angry, as a consumer I’m baffled with wishful thoughts.
IMO… Disney is involved and up to their elbows in pushing discriminatory social ideology’s, we all know this to be true, and it’s the reason they are bombing financially. Bob knows this as well, it’s why he didn’t take questions directly because he knew this would overwhelm the Q and A.
And given that they just announced the new fantastic 4 movie having a gender swapped silver surfer, right after the proxy war, says to me that they are still in it and continue to do it for that perfect ESG score and money.
With a heavy heart I feel that Our traditional, wholesome and inspiring Disney entertainment is gone.
Well, are they gonna make any changes? to benefit the consumers and not just their pockets? We went to Disneyworld and Hollywood studios and we were horrified of how expensive everything was, there was no standby line for Tron, we had to use that lousy app and pay extra to ride it! What? The Rise of the resistance broke down for about an hour, the Haunted Mansion ride broke down for about 35 minutes, do they have preventive maintenance, or do we have to pay extra for that too, let me look at that lousy app again! There is no fun in that, kudos for the cast members, always smiling no matter what. Love your videos, Thank You.
Sweeet, everything looks awesome and fun. I’m looking forward to all the new positive memories at the park! Have a good day everyone! 😎
Good analysis on the stocks Chris. What i cant understand, is how Iger speaks so poorly of and about Peltz? This is a man who LOVES this company..anyone who doubts that should be able to understand that by the amount of stock Nelson owns.(put your money where your mouth is right?) As far as the questions, It was interesting that the first question was politically based. Why doesn't Iger as CEO understand the political agenda the company is pushing is the problem. The huge box office losses have drained the money that wouldve gone to improve the parks and everything else.
The markets expected Peltz to grab 2 seats and his focus would have been on shareholders profits, when he was unsuccessful the share price dipped slightly but nothing to worry about.
Really feels like that was just those who were buying up shares to tip the scales in voting now selling off some of their position after the vote.
Sure, there’s nothing to worry about, they just destroyed all their big franchises, all their movies last year were monumental flops or underperformed and WDW is going to be destroyed by Universal next year. No big deal, at least they must have a very high ESG score.
@@marcoantoniogarcia38sure they are 👍🏻
@@marcoantoniogarcia38 I was referring the to the dip in the share prices not the company’s performance over the last year n
I love how Disney upgrades and takes care of their parks. I'm excited for epic universe but they could have concentrated on upgrading their two other parks. I love Harry Potter World and seuss landing, but that's about it.
Yesterday was a failure that only magnified Disney’s weakness in the marketplace.
So, Bobby Iger seriously cited completed attractions, some several years old, as future competition for Epic Universe opening next year? Really?
And going against tradition, we were treated to pre-picked, AI-read questions replied to by Bobby with pre-recorded answers? As a stockholder, I’m ticked off.
And Moana 2, once a Disney+ show, is now a fall tentpole theatrical release? It takes many years to bring a top quality theatrical animation feature to the screens. We’re talking a shockingly quick flip from TV quality to movie theaters. This announcement last earnings call was an obvious desperate move for Disney has no major anticipated theatrical offerings, other than Deadpool 3 (greenlit by Bob Chapek, not Iger).
Iger was full of tap dancing yesterday. Leaving the call, it was clearer than ever Peltz is needed.
Honestly pathetic. Iger is going to bring the company down in flames. I'm not a businessman or even a shareholder, but the way I see it, (With my own amateur and limited knowledge) Disney's best bet would be to sell off most of the properties they've acquired, to get rid of the bleeding hot potatoes that are Marvel and Star Wars, and focus back in on their core brand. Also, invest as much money in the parks and guest experience as possible. The parks are what kept Disney alive when none of their movies made money in the 70s and early 80s
@@officialmonarchmusic
It’s no longer the Walt Disney Company; it’s the Robert Iger company. To do what you outlined would have Bobby admit mismanagement and defeat. His ego and hubris would never allow it.
@@chronomatt6990I know, but you’re the shareholder. Would that work? Economically?
I wasn't aware until recently The Color of Money was a Touchstone (and therefore Disney) film. And that Paul Newman got his acting Oscar, therefore, in a Disney film. I recall an older gentleman being upset at a Pixar shareholders' meeting that the company had made The Incredibles and worried they were wandering away from G rated movies. Can't make everyone happy…
Well done - fair review vs other people
Chris, we forgot to mention that we received our Spirit Jersey for the wife and she loves it ( a bit big for her but she’s excited).
Yay!!! Glad to hear.
Citizen journalism at its finest
Hey Chris, what is your gut feel…. Do you feel there is any chance or much of a chance that the reservation system will go away at Disneyland this year??
Thanks again.
My gut says no. ☹️
@@provostparkpass sadly, I fear you are correct, Chris. 😥 I really hope we are both wrong and Disney does get rid of the reservation system and at least pretend to care about the guest experience again.
You’re the best! Thank you for the great content and for being such an amazing person!
While I agree with most of what you pointed out, you have to remember that this is a shareholders meeting. It’s all about pleasing the shareholders. That’s really where every major company in this country is going they don’t really care about the public. It’s all about making money for the shareholders.
I believe that it was ALL “smoke and mirrors”. I believe that Iger (and company) had a list of talking points that they wanted to share, especially that quickly after their “victory” after the BoD vote. Kinda like the game show “Jeopardy”… Here’s an answer, now we need to find a question that satisfies the answers (talking points) thru either AI, or (highly doubtful) shareholders actual questions.
That’s probably why (and I agree with you on this) NONE of the answers really 100% identified with the question being asked.
Question - is this legal to prescreen questions and then pick the questions or make them up? This seems like a scary slippery slope for publicly traded companies to do since you can easily manipulate it. Thanks, SO appreciate this video and how you explain things!
It’s not illegal
This is the year that my family gave up our annual passes. Disneyland is no longer a family oriented park and it always feels like they are just interested in draining our wallets. You have to pay to get into the park and then pay MORE to get onto the best rides.
Iger is playing dodgeball like a master
Hi Chris you tube channel video Love my favorite one fan BIG 💖🎶🏰
you should be running Disney
I think Disney needs to go back to the days of Walt! Follow Walt's dream again.
I think it's important to keep in mind this meeting is for shareholders not necessarily fans (Black Rock, vanguard, etc.) Iger is addressing mostly an audience who are looking for profitability and shareholder value which can often conflict with those of us super fans. I feel like we get hyper-focused on one aspect of the company looking for any crumbs of information and then crying foul when we don't get our expectations met.
In my opinion, yes, Disney is competing with Universal/Comcast but only on a very small scale when you consider how vast Disney is. As the adage goes the sun never sets...at Disney parks. Globally under the banner of Parks and Experiences, it's not even close to the scale Universal is puttering around with (again not domestically because this is a much bigger company than just the United States). The Parks and Experiences division has added multiple lands, multiple attractions, multiple ships and so forth all to provide maximum shareholder value and profitability. Everything they announce, from time frames to what platforms is very carefully considered and it's not just because someone down the road is opening an additional park.
As too the Q&A, I would be curious about what your thoughts are on the possibility of this being generative AI that looked across many questions and formulated these answers based on certain topics that were covered more heavily than others but also certain targets that they wanted to hit all handled algorithmically to narrow down the choices.
Epic Universe Rides:
Starfall Racers coaster
Constellation Carousel
Mario Kart: Bowser's Challenge
Yoshi’s Adventure
Mine Cart Madness coaster
Monsters Unchained dark ride
Curse of the Werewolf coaster
Harry Potter dark ride
Hiccup’s coaster
Dragon Racer's Rally
Fyre Drill boat ride
Disney World:
Flight of Passage
Na'vi River Journey
Rise of the Resistance
Smuggler’s Run
Toy Story Mania
Slinky Dog Dash
Alien Swirling Saucers
Ratatouille
Runaway Railway
TRON Lightcycle Run
Cosmic Rewind
Eleven rides for both. Of course we don’t have all the details of the Universal rides. Although we do know some things. But I think Disney’s lineup stacks up pretty well.
And people expected what? That Disney would save all those up and launch them just before Epic Universe opens?
Also, I think there are aspects of this that Iger just can’t say….I’m sure they have additional strategy they can’t disclose. Openings of new things are staggered to keep getting people to come back. It doesn’t make sense for Disney to go head to head with Epic’s launch. But their next big thing is at Animal Kingdom, which is where they probably anticipate any potential fall off in attendance to occur.
And you think that Universal didn’t open any new attractions in the last ten years? Pandora for instance was built to counter Harry Potter at Universal Studios, not Epic Universe. WDW is going to fall behind Universal after 2025, that’s for sure.
Hard to really compare 4 disney parks rides to 1 universal park full of new rides.
@@KforFreedom Disney is taking at least five years to be an attraction after an announcement, so their “reaction”, if there is any, is going to take way too much time. There’s no big thing for Animal Kingdom at all, they’re just going to turn Dinosaurs into Indiana Jones, a Disneyland attraction from the early 90’s that uses the same ride system and, even it it is a very good attraction, it’s nothing new and it doesn’t have anything to do with Animal Kingdom.
I’m very puzzled by the
“No Con” drop in the stock price. I believe the Peltz Army was larger
than was portrayed. Obviously, the case was not helped by Elon Musk’s promise to buy up shares if Peltz prevailed. Another puzzlement! Thank you for your concise and clear explanation of events. I really enjoy your channel. I hope to run into you at Disneyland someday. Go Padres!
💕
If I was a stockholder wearing my stockholder hat, some of these are questions I'd want answered like plans to boost Disney+ revenue or plans to keep the parks competitive. But high school internships & women's sports? Possible somebody asked, but I don't see them being one of the stockholder FAQs. I do see them being planted by Disney. The Taylor Swift question could have been answered with the streaming question. It was answered separately because she has the most marketable name on the planet.
The format it was done in lacks authenticity. Not that I think anyone was being deceitful or anything. But there's an openness when things happen live that doesn't exist in any other conditions.
Agree, too many softball questions, that didn’t have the specificity that you’d expect in a shareholder’s meeting.
It sounds like Disney is just going to continue with arrogant attitudes towards the people who support them. They want to continue to let the parks hold up the company while creating the same garbage on the entertainment side. They do not represent all sides of culture. There is nothing I want my grandchildren to see that they produce. It’s really sad there is no transparency and Wall Street cannot even trust them now.
lol, sad sad
I think most of it is waiting on the votes for Disney forward with Anaheim and D23. But there's hope if certain imagineers are back, think we just have to wait to see what happens with all this.
People are right. Bob Iger should go into politics with how he answers questions without answering them or giving them complete answers. Let's be real...they spent about as much time building just Moana than they did building all of EPCOT.
I still have confidence in what Imagineering is capable of, and think with the grudge match with DeSantis over and Disneyland Forward hopefully getting the green light soon, I think we’re going to be seeing some great things and real momentum.
The problem is that Imagineering is being held back by corporate Disney. They can't make something good if they don't have the money to make it
I'm ok with that short answer because if he doesn't want to add to the blue sky discourse, then I'd rather be patient and let them present something more tangible. Something we can legitimately get excited before because the dioramas are built and concept has a firm date of construction.
Anyone know where i can watch the shareholder mtg? im not a stockholder, just curious
Thank you Chris. It was nice and very informative. I didn’t know A from B.
I think the questions was created so he can look good or he thinks he is.
I am not happy the way Disney is going.
I don’t watch the new movies.
I think the Disney company decided to change things to be cool but it’s not.
The cast members standard dropped tremendous.
The 1st time I visited Disney ( it was Disneyworld) I was 26 ! And it was magical ( I am from Brazil I was traveling with my dad) the park was spotless. The C. M were very special.
I can’t say the same thing today.
Sorry for babbling!
Thank you for your honest input!
I’m just interested because I take Disney as a “Model System” of American capitalism and general zeitgeist and I feel you and some other UA-camrs are able to describe it competently.
I think the weird mostly comes from the fact there's two groups of "public" involved here - shareholders, and fans. of course a lot of fans are technically shareholders, but the priorities and info each group want are different. Shareholders want profit. Fans want the best experience, maximising profit isn't the priority. Honestly in my opinion, prioritising the fans is actually the better long term strategy, as that loyal fanbase is going to keep on spending and spending while they feel Disney has something special for them. Shareholders are gonna sell and invest elsewhere as they see fit. Something like free Fastpasses vs Genie +, would be absolutely dumb to someone only intrested in the quarterly profits. But most fans, most theme park guests, would tell you how the simpler free system made the experience so much better, made their trip much better, made Disney theme parks better than the rivals, so they're more loyal for years to come!
I found it odd when asked about high school students receiving an opportunity about learning the business side of Disney. Disney already has in place the college program which allows college students to gain professional experience within the Disney company.
@19:50 re: the answer about not sharing details yet ... I've seen countless videos bemoaning the various "broken promises" from Disney after they announced a big project and then had to scale back or outright cancel it later. For example, Epcot Phase 2, the Mary Poppins attraction, Westcot, etc. While I get that it isn't necessarily the best look to not be willing to answer the question, it's entirely possible that they just wanted to avoid another broken promise when trust in the company and leadership is already shaky ...
They’re DEFINITELY not random questions, and it’s wildly disappointing that Disney’s confidence was SO LOW that they didn’t think they could take them live.
I’m much more interested in the questions they actively chose NOT to answer.
As a shareholder, literally everything about this meeting was disappointing.
I may give some point to Disney on not being specific on new attractions, lands, etc IF the decisions can't be complete until submitted plans are approved. But there is a better way for Iger to answer this.
i would also point out,no question was the questions written for him...but they in turn showed that disney is listening to the concerns people have...im sure more than one shareholder asked about universals "epic universe"...a question quite touchy right now....to even address it,shows disney is listening.by the way...disneyland forward is looking really good right now...the anahiem planning commission has already passed all the zoning changes disney wanted on their property,and it only has to be approved by the city council now.
Do you think they are waiting to announce projects until Disneyland Forward in Anaheim hopefully gets approved by city ?
Could be
First off I appreciate that you provide this content. Keep up the great work that you do. Below is probably going to he a long reaction to the video.
Disney is in a difficult position right now. Iger has been having to spend A LOT of time and resources fixing Chapek's screw ups. Then add the strikes in Hollywood and you have a cluster f*** of epic proportions. Iger put his foot in his mouth with the strikes and that did him no favors.
The Q&A was definitely done in a way that Iger could answer without any detail. I don't think it was AI, but fully hand picked. Nothing random about the choice of questions. I don't think he was on camera because the public would be pulling apart every little thing it could. I am glad Peltz did not make it on the board though.
1. Streaming is not the money makers people think it is. I don't think Disney should have released their own platform. They already were in partnership with Hulu and they were aquiring Fox when they launched Disney+. I think they jumped the gun. Disney has a decent share of viewers, but they are not going to reach Netflix. Get rid of the seperate playform and just have the add-on to the Hulu subscription.
2. Disney parks are still special. You just can't make everyone happy. I agree that some of the magic has been lost. I also think our mindset as guests has become a little clouded, too. Nothing is what is was in the past.
3. It takes so long for anything to be accomplished. Some fault lies with Disney and some of that is out of their hands. EPCOT changes, adding Tron, re-imagined shows are all good things that have come to the parks. My problem at WDW is on property hotels and general park maintenance They are spending all this money on adding DVC while prices for Value and Moderate are ridiculously expensive. Rides should work with less diwn time and all aspects of the ride as well.
Universal is only now adding a 4th gate. WDW has 4 gates, 2 water parks (although currently only 1 running now) and a superior shopping district. Universal is not for everyone though. I'm an overweight person that doesn't fit on all the coasters at Universal. I was there in 2021 and was really disappointed. I could ride everything at WDW. Undoubtedly because WDW doesn't have many thrill rides.
Here in California Disney is hands above Universal. Outside of the US Disney ranks as some of the best theme parks within their given countries.
4. The studios are rough. There have been many bad decisions including spending WAY too much money. They do need a shake up with the execs in the studios. Who needs another Toy Story or live remake? The answer is no one. Box office numbers to movie budget doesn't support these choices.
5. Again, you can't nake everyone happy. "Keeping the same values" is a problematic question in itself. My values might not align with yours. Walt has been gone for over 50 years and the US has changed socially in those years.
6. It's been less than 1 year that Disney announced the $60 billion dollar investment for the parks. DisneyForward has been in the works for how long? How long did it take for the expansions in Hong Kong and Tokyo? We want new things and we want them now. Guess what - it doesn't wirk that way. Have you ever done a renovation on your house? Multiply that by the power 0:07 of at least 1,000.
7. Disney doesn't need to do things for high schoolers. They do quite a bit already.
8. This question is because of DeSantis and Florida. Also people politicizing LGBTQ+ issues. Every business is mixed up in politics in some way in modern day. You can't get away from it.
9. I don't know much about what ESPN offers. I know that womens sports coverage has continued to be vastly lower than mens. I think Iger just wanted to present that he's aware that womens sports are being requested more.
10. Who cares! Taylor has mot signed an exclusive with Disney that I'm aware of for her concerts. Does Taylor even know when she's going to next release a tour movie?!
I won't say that I'm optimistic after hearing reports from the quarter earnings. I think Iger is cery aware that even though this is for shareholders the public is also going to go over the meeting with a fine toothed comb. I look at Disney as a multi billion dollar company that is trying to keep everyone happy. Keeping the shareholders happy is not the same as the general public that consumers Disney products. I think Disney has aquired beyond their capability. Adding Marvel, Fox, Star Wars and buying out the rest of Hulu was over ambitious. Chapek was a bad choice that we're only just starting to get out from under. Bergman and Walden have been asleep at the wheel in films and streaming. More misses than hits.
Disney has to work on public opinion while making money for shareholders. Invest in Cast Members so park experiences can be more magical. The CMs are what can make or break a day at the parks. Hiring and training need to be improved. There are many stellar CMs but there are also lots of meh ones, too. When you feel valued as an employee you'll get better performance.
My hope is that Disney, especially the parks, can remain a favorite of mine through my lifetime. I consider my self a Disney Adult and I don't have plans for that to change. I might not be able to afford to go to the parks iften but they remain my choice if happy place to visit.
I believe current mgmt can turn the ship. I also think dsny’s largest ROI on future productions is going to be FX/Hulu where they can make edgy dramas. I don’t know if their market for
Princess films is looking that great. A lot of remakes, Toy Story 5, frozen 3 etc does not engage a new viewer. New Disney animation/Pixar stories need to be developed. More adult themed, thrilling attractions in the parks would help-millennials and gen y are not having children at the rate of previous gens. Marvel and SW haven’t done much to keep faithful fans engaged lately. Looking forward to Deadpool3 to save the MCU. Andor season 2/3 is the only thing keeping me on D+.
The Disney presentation during the meeting was akin to an intern throwing something together at the last minute.
Which is strange bc the stuff they released today with the animatronics & the Imagineers’ trip to Central America would’ve been much better to release than the clips they did.