Fiscal Q4 results for $DIS revealed Wednesday were worse than what investors expected. VIP+ analysts awallenstein and heidi_chung explain why investors ignored prior guidance from Disney
Perfection is rarely achieved in movies, but this heaven-sent concert doc hits the sweet spot. Over two days in January 1972, the Queen of Soul, Aretha Franklin — she was 29 at the time — sweeps into the New Temple Missionary Baptist Church in Watts in front of a congregation and testifies to God in song. The blessed thing took nearly half a century to come out because director Sydney Pollack failed to sync the image with the sound.
CEO Bob Chapek warned in September that Disney+ would see subscriber additions in the “low single-digit millions” in fiscal Q4. But the analyst community must not have taken him very seriously. Heading into the earnings announcement, Wall Street was projecting total Disney+ subscribers of about 125 million.
On top of that, Disney+’s ARPU fell 9% from the same period last year due to the higher mix of Disney+ Hotstar subscribers. The lower price point for Disney+ and Hotstar in Indonesia and India brought down overall ARPU for the company.
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