CEO Bob Chapek Praises Park Pass Reservation System as 'Backbone' of Domestic Theme Parks

Entertainment 21 September, 2021 - 09:54pm 23 views

Why are Disney shares falling?

Disney Stock Is Falling After the CEO Warned of Slower Growth for Disney+. A Reinstated Dividend Is “In The Distant Future.” A focus on storytelling and going directly to consumers is at the heart of Walt Disney's actions in the wake of the Covid-19 pandemic, CEO Bob Chapek said on Tuesday. Barron'sDisney Stock Falls on Worries About Disney+

Read full article at

CEO Bob Chapek Praises Park Pass Reservation System as 'Backbone' of Domestic Theme Parks - WDW News Today

What's On Disney Plus 21 September, 2021 - 09:54pm

Today during the Goldman Sachs 30th Annual Communacopia Conference, Disney CEO Bob Chapek spoke about the theme parks. He praised the Park Pass reservation system instituted by the domestic parks upon reopening during the COVID-19 pandemic.

As he has mentioned before, the company saw the temporary closures as an opportunity to “reconceive the guest experience and increase return to the shareholders.” Chapek considers the reservation system the “backbone” of the operations and praised the increased yield it has produced.

While the reservations themselves do not turn over a profit, they allow the company to better allocate resources. By requiring every guest to have reservations, including Annual Passholders, Disney can know precisely how many people will be in each park each day. They use this information for a myriad of things, from Cast Member scheduling to food and beverage stock. With the “right mix of guests in the park,” Chapek said (referring to the mix of Passholders, Resort guests, and regular ticketed guests(, they can “control demand.”

Chapek specifically mentioned Passholder programs, noting that by rebooting the programs at both domestic parks to incorporate reservations, it allows them to know “who comes on what day.”

As Chapek has confirmed before, the Park Pass reservation system is here to stay.

As always, keep following WDWNT for all of your Disney Parks news, and for the absolute latest, follow WDW News Today on Twitter, Facebook, and Instagram.

After addressing capacity, Disney CEO Bob Chapek spoke about theme park technology today at the J.P. Morgan Global Technology, Media, and Communications Conference. Chapek cited the new Disney Park Pass theme park reservation system and virtual queues, such as the boarding groups for Star Wars: Rise of the Resistance, as…

Walt Disney World has already started to raise theme park capacity according to Disney CEO Bob Chapek, and they will continue to do so given today's new guidance from the CDC. The last we had heard, the theme parks were at 35% capacity, but according to Chapek, this changed at…

The Walt Disney Company released its Q3 2021 earnings today, and CEO Bob Chapek spoke about the parks in detail. While the international parks posted a loss, the U.S. parks saw the first profitable quarter since the pandemic began in 2020. Walt Disney World has been at or near capacity…

half the magic for twice the price. the new cheapact business model for sure.

Disney's Chapek says program production delayed as Delta variant spreads

Yahoo Finance 21 September, 2021 - 02:44pm

Shares in the company, which has been hit hard by the coronavirus pandemic as theme parks and movie theaters were forced to shut down, fell about 3% after Chapek's statement.

"Our TV group has hundreds of new programs in production ... but the resurgence of COVID and Delta did impact some of our productions so that we've got a lighter product quarter in Q4 than we might have expected," Chapek said at the Goldman Sachs Communacopia Conference.

COVID-induced production delays were seen globally, which in turn were affecting supply of new content, but the issues were short term, he added.

Disney streaming service Disney+, which debuted in November 2019, has seen more consumers tuning in, but the competition has been heating up with new entrants and as companies including Netflix and Apple invest into producing more programs.

Chapek said the company was still "very bullish and confident" about its long-term subscription growth, but there could be "a little bit more noise" than was expected.

(Reporting by Nivedita Balu in Bengaluru; Editing by Vinay Dwivedi)

Out of thousands of stocks that are currently traded on the market, it is difficult to identify those that will really generate strong returns. Hedge funds and institutional investors spend millions of dollars on analysts with MBAs and PhDs, who are industry experts and well connected to other industry and media insiders on top of that. Individual investors can piggyback […]

Disney CEO Bob Chapek mentioned today during a Goldman Sachs 30th Annual Communacopia Conference that Shang-Chi and the Legend of Ten Rings will hit Disney+ on Friday, Nov. 12, which the studio is designating as Disney+ Day. That’s a consumer day celebrating the services. “We’ll be surprising people with offers and it will be an annual thing,” […]

Few Disney executives have had the kind of staying power and influence of Gary Marsh, who joined the Disney Channel in the late 1980s.

Shang-Chi and the Legend of the Ten Rings dominated the box office when it hit theaters on Sept. 3.

Disney Plus global paid subscribers will increase by “low single-digit millions of subscribers” for the quarter ending September 2021, Disney CEO Bob Chapek said — marking a slowdown from recent periods for the Mouse House’s flagship streamer. Sub growth in Disney Plus core markets (excluding Hotstar) will continue both domestically and internationally in the current […]

(Bloomberg) -- Facebook Inc. fell as much as 4.3% to the lowest point since July after warning Apple Inc.’s new data collection restrictions will hurt its third-quarter results.Most Read from BloombergThe Global Housing Market Is Broken, and It’s Dividing Entire CountriesIstanbul Turns Taps on Old Fountains, Joining Global Push for Free DrinksIn Paris, the Wrapped Arc de Triomphe Is a Polarizing PackageIs There Room for E-Scooters in New York City?How the Child Care Crisis Became a Global Econom

Facebook Inc (NASDAQ: FB) Oversight Board blogged that it reviewed the social media company's practice of maintaining separate sets of rules for high-profile users "XCheck." The Board has also probed Facebook's rendering of selective users as immune from enforcement actions called "whitelisting." The probe follows the Wall Street Journal's report on the system. The Oversight Board has reached out to Facebook and expects a briefing shortly. Facebook previously told the Oversight Board that it onl

Facebook Inc has told Australian publishers it has stopped negotiating licensing deals, an email to the industry seen by Reuters showed, a move which came just six months after the passing of a law designed to make tech giants pay for news content. While Facebook has announced deals with most of the country's largest news outlets, some companies including TV broadcaster SBS and smaller publishers have been left out in the cold, raising questions about the scope and effectiveness of the ground-breaking law. Australia is the only country with a law where the government may set the fees if negotiations between tech giants and news providers fail, but the rejected companies are left with little recourse for the time being and are waiting for the government to review the law in 2022 as planned.

(Bloomberg) -- Universal Music Group BV shares soared in their stock market debut as investors seized the chance to own the dominant player in a resurgent music industry. Most Read from BloombergThe Global Housing Market Is Broken, and It’s Dividing Entire CountriesIstanbul Turns Taps on Old Fountains, Joining Global Push for Free DrinksMerkel’s Legacy Comes to Life on Berlin’s ‘Arab Street’Is There Room for E-Scooters in New York City?Amazon, Microsoft Swoop In on $24 Billion India Farm-Data Tr

Vivendi, Universal Music Group’s French parent company, floated 60% of the music group in a spinoff to its existing shareholders.

Netflix Inc has bought the works of Roald Dahl, including classics such as "Charlie and the Chocolate Factory" and "Matilda", in its latest content deal as the streaming service faces stiff competition from Disney+ and HBO Max. The company did not disclose the financial terms of the deal, which will give it full access to Dahl's works as well as animated and live action films. The deal expands Netflix's existing licensing agreement with The Roald Dahl Story Co to create animated series based on the author's books.

Starting today, the two services can be bundled for $9.99 a month with ads for Paramount+, or ad-free for $12.99 a month. Without the bundle, subscribing to both would normally cost about $16 with ads, and $21 without ads.

Video is at the heart of how people use the internet today, and creators are at the heart of what is being made and watched on video. StreamElements, which provides production and analytics tools to people who livestream and make video-on-demand for platforms like Amazon's Twitch, YouTube, and Facebook, has raised $100 million in funding -- money that it will be using to continue building out the tools on its platform, to do more in on-demand alongside a big business in livestreaming, and for marketing, specifically to bring more creators to its platform, which is already being used by 1.1 million people. "Our goal is to be everywhere creators are, which means expanding to new platforms, such as using the new funds to build out our presence on Trovo," said co-founder Gil Hirsch.

(Bloomberg) -- Facebook Inc.’s de facto Supreme Court of content is calling on the social media giant to release more information about how it moderates posts by famous people. Most Read from BloombergThe Global Housing Market Is Broken, and It’s Dividing Entire CountriesIstanbul Turns Taps on Old Fountains, Joining Global Push for Free DrinksIn Paris, the Wrapped Arc de Triomphe Is a Polarizing PackageIs There Room for E-Scooters in New York City?How the Child Care Crisis Became a Global Econom

"Tony Soprano is a [expletive] hard character," Michael Gandolfini said.

“Shang-Chi and the Legend of The Ten Rings” from Marvel Studios will hit Disney Plus on Nov. 12 — along with a slew of other new content — as part of a celebration of the two-year anniversary of the streamer’s launch. The first Disney Plus Day marks the date the streaming service first bowed in […]

An emphasis on narrative and relationships makes the new Marvel game work.

Activision Blizzard Inc (NASDAQ: ATVI) is trading lower Tuesday following reports that the Securities and Exchange Commision has subpoenaed the company related to recent discrimination claims. "Federal securities regulators have launched a wide-ranging investigation into Activision Blizzard, including how the videogame-publishing giant handled employees’ allegations of sexual misconduct and workplace discrimination," according to a report from The Wall Street Journal. Activision Blizzard was for

Disney CEO Bob Chapek Describes ‘Reset’ on Film Talent Deals Amid Scarlett Johansson Fallout

Yahoo Entertainment 21 September, 2021 - 02:38pm

Though he didn’t mention Johansson by name, Chapek referred to film deals that were struck years ago and then launched in the middle of a pandemic that has changed consumer behavior.

“We’re sort of putting a square peg in a round hole where we’ve got a deal that’s conceived under a certain set of conditions that actually results in a movie that’s being released in a different set,” Chapek said at the Goldman Sachs Communicopia conference Tuesday. “So there’s actually a bit of a reset that’s going on right now, and ultimately we’ll think about that as we do our future talent deals and plan for that and make sure that that’s incorporated.”

Chapek said talent deals going forward will have to reflect the changing world and that the company currently is in a middle ground but that they’re “trying to do right” by talent.

“But right now we’ve got sort of this middle position where we’re trying to do right by the talent, the talent is trying to do right by us, and we’re just sort of figuring out our way to bridge that gap,” Chapek said. “But we believe that talent is our most important asset, and we’ll continue to believe that, and we’ll continue to compensate them fairly based on the terms of the contracts they agreed to us with.”

Chapek elsewhere on the call teased details about the upcoming Disney+ Day on November 12, as well as updates about how the Delta Variant has impacted — or not impacted — attendance at Disney theme parks.

Johansson’s lawsuit, which was filed July 29, claims her contract was worded around an exclusive theatrical release for “Black Widow” — which was released simultaneously in theaters and on Disney+ Premier Access on July 9 — and her compensation included significant bonuses based on the film’s box office grosses that insiders told the Wall Street Journal could add up to $50 million.

In Disney’s initial response, the company said the lawsuit had “no merit whatsoever” and called Johansson “callous” for asking for more than her upfront salary of $20 million. The studio has countered by saying that it fulfilled its theatrical obligation by releasing “Black Widow” on 9,000 screens in the U.S. The movie has since grossed $377.8 million worldwide.

In the wake of that however, Disney secured talent deals with Emma Stone for a sequel to “Cruella” after that film also debuted in Premier Access earlier in the summer and for new deals for a “Jungle Cruise” sequel with stars Dwayne Johnson and Emily Blunt.

Bob Chapek said Disney has "had a long history of having very symbiotic and cooperative deals with talent and we will continue to"

Disney CEO Bob Chapek, speaking at a virtual Goldman Sachs conference, acknowledged tensions over talent deals.

NBC has ordered “The Endgame,” starring Morena Baccarin and Ryan Michelle Bathé, to series. Described as a “high-stakes thriller,” the show follows Elena Federova (Baccarin), a “very recently captured” international arms dealer and criminal mastermind who can orchestrate many complicated and coordinated bank heists, even while in captivity, and Val Turner (Bathé), the “principled, relentless […]

He confirmed the new 'Star Wars' series wrapped filming after winning his first Emmy for Netflix's 'Halston.'

The higher-end iPhone 13 Pro and iPhone 13 Pro Max have wait times of longer than three weeks in all markets, numbers show.

The 15-year-old passenger also was injured in the east Charlotte shooting, and police are looking for a gold sedan.

Apple (NASDAQ: AAPL) took the wraps off the hotly anticipated iPhone 13 models on Sept. 14, bringing a host of new features and improvements to its bread-and-butter product. Last year, when the iPhone 12 was announced, India wasn't among the countries getting the first batch. Apple had launched the iPhone 12 for preorders in Australia, China, Germany, Japan, the U.K., the U.S., and a few other markets on Oct. 16, 2020, while India was in the second tier of countries getting the device on Oct. 30.

On the heels of Texas' restrictive new law that bans most abortions after six weeks, actress Uma Thurman publicly shared about an abortion she had when she was a teenager. "I am sharing my own experience," Thurman, 51, said, adding that she felt it was her "responsibility" to speak out and "stand up in their shoes."

In 1961, activists and civil rights groups banded together en masse like never before to end legal segregation and expand voting access.

A new study finds Latinos have overall lower cancer incidence than non-Hispanic whites, but two times higher rates of preventable, infection-related cancers.

Texans head coach David Culley said on Monday that quarterback Tyrod Taylor is day-to-day with a hamstring injury, but the timeline for his return is reportedly considerably longer. John McClain of the Houston Chronicle reports that Taylor could miss four weeks as a result of the injury. The Texans are set to face the Panthers [more]

It's been over 19 years since the premiere of "Harry Potter and the Sorcerer's Stone." Here's what stars like Daniel Radcliffe are doing now.

CB Antonio Hamilton was protected for the third week in a row, but even with Marco Wilson's availability unknown, CB Rasul Douglas was not protected.

Song comes off the soundtrack to her new mockumentary

Theme park rides will clearly say if there's a minimum height requirement, but guests of different body sizes are often left guessing if they'll fit.

Financial experts share tips on what the young people can learn from their COVID-related money struggles.

An emergency dispatch center doesn’t exactly sound like the most visually exciting place to set an entire film. A remake of a 2018 Danish film by the same name, Fuqua’s “The Guilty” puts the audience in a Los Angeles 911 call center in the middle of the night as Gyllenhaal’s disgraced police officer Joe Baylor fields emergency calls from around the city. It’s worth hanging around for the credits to peek at all the famous names providing the voices on the other end of the line (Riley Keough, Paul Dano, Ethan Hawke, Bill Burr and Da’Vine Joy Randolph are just a few of the people he speaks to over the course of the night).

And no, it's not Blake Shelton.

Biden needs results not just to transform the economy, but to have something to run on. "The party's future depends on getting this bill done."

The media giant suspended its payouts when the pandemic hit last year. It's not returning anytime soon.

Disney shares tumble as CEO projects lower fourth-quarter subscriber growth than estimates

CNBC 21 September, 2021 - 02:14pm

Disney's CEO Bob Chapek said Tuesday his company's streaming service growth has "hit some headwinds" related to coronavirus, causing shares to close lower for the day.

Disney expects to add "low single-digit millions" of streaming subscribers in the fourth quarter, Chapek said. Disney shares ended the session down 4.1% after Chapek's comments at the virtual Goldman Sachs Communacopia Conference.

Chapek said "mobilizing partners" in Latin America to push Disney's new Star+ streaming service, the Covid-related suspension of the India Premier League — whose games air on Disney's Hotstar — and production delays from the delta variant have all hurt subscriber numbers in the fourth quarter.

"We are going to see a little bit more noise than maybe the Street projects quarter to quarter," Chapek said. "The resurgence of Covid and delta did impact some of our productions."

Chapek's forecast is significantly lower than some analyst estimates. Deutsche Bank analyst Bryan Kraft had projected Disney+ net adds of about 13 million in the quarter.

Global production delays will be "very short term," Chapek said. But he acknowledged there won't be as much new programming in the fourth quarter "than we might have expected," which will affect subscriber growth.

Disney has projected 230 million to 260 million Disney+ subscribers by 2024. Disney said in August it had 116 million Disney+ subscribers.

Chapek cautioned investors that quarter-to-quarter growth "is not linear" and some choppiness is expected. Still, he remained confident in Disney's long-term growth outlook.

Got a confidential news tip? We want to hear from you.

Sign up for free newsletters and get more CNBC delivered to your inbox

Get this delivered to your inbox, and more info about our products and services. 

Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Entertainment Stories