Walt Disney CFO Christine McCarthy said the entertainment giant’s total exposure to Russia and Ukraine combined is about 2% of its total operating income and “not a significant number for us.”
McCarthy called Disney’s DTC business “a toddler” and said the company “had some preconceive notions of what we thought consumers wanted. We found consumers do not mind, and some are more favorably disposed to services with ads than without ads.” And there was a lot of advertiser demand. She said the service, launching in late 2022, can now be part of the conglom’s upfront discussions when they get rolling later this month. “The ad community was extremely pleased with this announcement.
On parks, “Some people have more time than they do money, and some have more money than they do time,” she said, with new tiers of ticket pricing and services catering to both. Disney has a wide range of ticket prices, including an entry-level that has not been raised since 2019, she said. “You don’t get everything, you don’t get every day, you don’t get peak periods. But you can go into the park just like anybody else. [And] You can buy up or trade up for a more engaged experience, or more flexibility.”
She said events like parades and fireworks and character meet-and-greets – which are still discontinued but will restart sometime this year – attract guests and help unclog the lines at attractions. The parks aren’t back to full capacity yet but getting there. With the business of streaming coming under fire for high costs and red ink, she stood by the company’s guidance for DTC subscriptions and profitability. “We feel good about 230 to 260 Disney+ subscribers by 2024. We are driving towards it,” she said. “It is not a Hail Mary.” It had reached
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