The annual meeting of shareholders of 2025 discloses News ad

At its recent annual shareholders meeting, Walt Disney Company NYSE: DIS He made a powerful argument in favor of his updated financial force, operating discipline and strategic clarity. Under the leadership of the CEO Bob whenDisney turns from the history of recovery after a pandemic in The growth platform of the multi -missionField

Shareholders and analysts were able to get an inner look at the giant of the discretionary sector of the consumer. The company’s performance in 2024 and plans for 2025–2026. Reliable cash flowsIN The possibilities of a high marginAnd The global leadership of the brandField

Studio segment: scalable IP, which leads to revenue vertically

Disney’s main differential remains his Premium intellectual property (IP) And its ability to monetize this IP on several platforms: theatrical issues, streaming, goods, parks, games and licensing. Studios unit has reached 5.5 billion dollars. USA in the world cash register in 2024headed by s Inside 2IN Deadpool & Wolverine 2And Moana 2Each generating 1 billion dollars individuallyField

This speech not only confirmed Disney’s dominance in global telling stories, but also emphasized the durability of his franchises even in the changing economy of content.

Pipeline for 2025–2026. Strengthens the cost of long -term IP planning. The planned releases include Pixar’s ElioIN Thunderbolts And Fantastic four: first steps From Marvel, Zootopia 2IN Avatar 3and living action StitchIt is important to note that the company is developing Coco Continuation for 2029, filling out its many years of road map and commitment to storytelling as a financial engine.

This scalability level of IP supports not only cash income, but also Auxiliary monetization Thanks to stream subscriptions, sights of the park and goods. In a sensitive environment, the Disney content strategy allows you to get Cross -platform efficiency– a critical lever in ensuring income growth while maintaining costs.

Streaming segment: milestone of profitability, synergism in the kit

Disney’s Direct-Consumer (DTC) division, which includes Disney+, Hulu and ESPN+achieved Profitability for the first time in 2024The main turning point that signals the ripening of a long -term investment cycle. WITH 240 million global subscriptions In all its services, the segment is currently part of the phase The expansion of margin And not the purchase of users at any cost.

ESPN+ integration in Disney+ is expected in the fall of 2025 – is a strategic step in the kit aimed at an increase ARPU (average income to the user) and reduction of outflow. Disney positions itself as a platform in one with the services of streaming content for families, sports fans and a common audience, competing with the depth and usefulness of competitors such as Netflix or Amazon Prime.

This evolution is crucial in terms of investment. Streaming was once a segment of money burning for Disney; Now it is Positive contribution to EBITDASupporting free generation of cash flows and the potential profit of future capital. While the leadership did not reveal updated plans around its Fubotv NYSE: FUBO Partnership, his portfolio is right for living sports, in combination with ESPN+, offers a formidable competitive RVO.

Experience segment: deployment of high income in physical assets

Disney experience segment, which includes thematic parks, resorts and cruise lines to be a company The highest margin and the most capital businessIn 2024, this segment generated Operational income of $ 8 billionWithout the margin 30%It is controlled by record attendance and expenses for an object in relation to internal and international parks.

At a meeting of shareholders, Iger released the largest sheet of expansion projects in Disney history. A The magic kingdom subject to the most significant expansion, with new lands represented around CarsIN Monsters Inc.And Disney villainsAdditional attractions come Animal kingdomIN Hollywood studiosAnd California adventuresShowing the IP Like CharmIN Indiana JonesIN CocoAnd King LeoField

These projects are not just a crowd, Cash flows multipliersField according to Disney, these extensions will increase the power of the park by 20–25% by 2027 and drive Return of the average teenager to invested capital (Roic) For their life. This is exacerbated by price: Disney continues to increase ticket prices in accordance with demand, without any explicit influence on the visit. Aiger confirmed that the demand for the park remains “extremely strong”, and the guest expenses for per capita were tripled from the moment of the pre-Penemic level.

The cruise line is also scale, with seven new ships are built after the debut of 2024 TreasureThe field of new vessels likes Fate And AdventureArriving in 2025, it is expected Double cruise capacity by 2026Aiming for consumers with a high network in a sector with high price stability.

Games: a market entry of 200 billion dollars with the potential controlled by IP

As a result, Disney announced $ 1.5 billion in epic gamesCreator Fortnite. This partnership is intended for integrating Disney characters and history in a game meta -fate, creating new forms of involving fans and monetization. The global gaming market costs more 200 billion dollars a yearAnd Disney record is a calculated rate with a high level with a relatively low risk of capital compared to its physical assets.

Corporate Management and Capital Management

After the controversial proxy in 2024 with Nelson Palet, the meeting this year is reflected Stability and alignmentThe field of all members of the Council was re -elected, and the compensation of the leader, including the package of Bob Aiger in the amount of $ 41.1 million. USA, was approved by shareholders. Three offers of activists were overwhelmed by the vast majority of rejected.

The only outstanding question is continuity. Aiger’s current contract ends in 2026, and not a single successor was named. Despite the fact that this introduces a certain degree of uncertainty, the rule made it clear that the continuity of leadership is the immediate goal, and investors should expect clarity next year.

Long -term history of re -rating in motion

Disney is no longer in recovery mode – this The company of platforms with numerous growth engines. Currently, streaming is profitable, and the parks provide high -level growth. Content not only flourishes, but is also fully integrated into a diversified ecosystem of monetization. With the game, cruise and global expansion in the game, the company positions the company for Sustainable acceleration of incomeField

Disney checks each box when investors are looking for companies with durable competitive even growths, brand capital, price energy and cross -platform revenue lever. Since the action, still trading below, previously panaminic assessment, DIS is a long -term opportunity with asymmetric growth and expansion of free cash flow.

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