Walt Disney Co
- The Walt Disney Company is a leading diversified international family entertainment and media enterprise.
- Disney Remains Most-Admired Media and Entertainment Company for the 20th consecutive year.
The Walt Disney Company (NYSE: DIS, LSE:0QZO) is a leading diversified international family entertainment and media enterprise that includes Disney Parks, Experiences and Products; Disney Media & Entertainment Distribution; and four content groups—Studios, General Entertainment, Sports and International—focused on developing and producing content for DTC, theatrical and linear platforms.
Disney Remains Most-Admired Media and Entertainment Company
February 1, 2023; For the 20th consecutive year, The Walt Disney Company has been recognized as the top-ranked media and entertainment company on Fortune’s annual list of the “World’s Most Admired Companies,” released online today and in the magazine’s February/March issue. Disney ranked No. 6 overall among the 324 listed companies from across the globe.
Disney earned top marks in a significant number of areas, including innovation; people management; use of corporate assets; social responsibility; quality of management; financial soundness; long-term investment value; quality of products/services; and global competitiveness.
Service revenues for fiscal 2022 ended October 1, 2022; increased 20%, or $12.4 billion, to $74.2 billion, due to increased revenues at its theme parks and resorts, higher DTC subscription revenue and, to a lesser extent, higher theatrical distribution and advertising revenue.
Cost of services for fiscal 2022 increased 19%, or $7.8 billion, to $49.0 billion, due to higher programming and production costs, increased volumes at its theme parks and resorts and higher technical support costs at Direct-to-Consumer. Cost of products for fiscal 2022 increased 36%, or $1.4 billion, to $5.4 billion, due to higher merchandise, food and beverage sales at its theme parks and resorts. Selling, general, administrative and other costs for fiscal 2022 increased 21%, or $2.9 billion, to $16.4 billion, primarily due to higher marketing costs at its DTC and, to a lesser extent, theatrical distribution and parks and experiences businesses.
Restructuring and impairment charges in fiscal 2022 were $0.2 billion primarily due to the impairment of an intangible and other assets related to its businesses in Russia. The company may incur additional charges to exit these businesses, which are not anticipated to be material. Restructuring and impairment charges in fiscal 2021 were $0.7 billion due to $0.4 billion of asset impairments and severance costs related to the shutdown of an animation studio and the closure of a substantial number of Disney-branded retail stores in North America and Europe and $0.3 billion of severance and other costs in connection with the integration of TFCF and workforce reductions at DPEP.
In fiscal 2022, the Company recognized a non-cash loss of $663 million from the adjustment of its investment in DraftKings Inc. (DraftKings) to fair value (DraftKings loss).
The Walt Disney Company is a leading diversified international family entertainment and media enterprise that includes Disney Parks, Experiences and Products; Disney Media & Entertainment Distribution; and four content groups—Studios, General Entertainment, Sports and International—focused on developing and producing content for DTC, theatrical and linear platforms.
The Walt Disney Company, together with its subsidiaries, is a diversified worldwide entertainment company with operations in two segments: Disney Media and Entertainment Distribution (DMED) and Disney Parks, Experiences and Products (DPEP).
Disney Media and Entertainment Distribution
DMED encompasses the Company’s global film and episodic television content production and distribution activities. Content is distributed by a single organization across three significant lines of business: Linear Networks, Direct-to-Consumer and Content Sales/Licensing. Content is generally created/licensed by four groups: Studios, General Entertainment, Sports and International. The distribution organization has full accountability for the financial results of the entire media and entertainment business.
- Domestic Channels: ABC Television Network (ABC) and eight owned ABC television stations (Broadcasting), and Disney, ESPN, Freeform, FX and National Geographic branded domestic television networks (Cable)
- International Channels: Disney, ESPN, Fox, National Geographic and Star branded television networks outside of the U.S.
- A 50% equity investment in A+E Television Networks (A+E), which operates a variety of cable channels including A&E, HISTORY and Lifetime
- Disney+, Disney+ Hotstar, ESPN+, Hulu and Star+ direct-to-consumer (DTC) video streaming services
- Sale/licensing of film and television content to third-party television and subscription/advertising video-on-demand (TV/SVOD) service
- Theatrical distribution
- Home entertainment distribution (DVD, Blu-ray discs and electronic home video licenses)
- Music distribution
- Staging and licensing of live entertainment events on Broadway and around the world (Stage Plays)
Disney Parks, Experiences and Products
The operations of DPEP’s significant lines of business are as follows:
Parks & Experiences
- Theme parks and resorts, which include: Walt Disney World Resort in Florida; Disneyland Resort in California; Disneyland Paris; Hong Kong Disneyland Resort (48% ownership interest); and Shanghai Disney Resort (43% ownership interest), all of which are consolidated in its results. Additionally, the Company licenses its IP to a third party to operate Tokyo Disney Resort.
- Disney Cruise Line, Disney Vacation Club, National Geographic Expeditions (73% ownership interest), Adventures by Disney and Aulani, a Disney Resort & Spa in Hawaii.
- Licensing of its trade names, characters, visual, literary and other IP to various manufacturers, game developers, publishers and retailers throughout the world, for use on merchandise, published materials and games.
- Sale of branded merchandise through online, retail and wholesale businesses, and development and publishing of books, comic books and magazines (except National Geographic magazine, which is reported in DMED)
Parks and Products
Disney Parks, Experiences and Products is the global hub that brings Disney’s stories, characters, and franchises to life through theme parks and resorts, cruise and vacation experiences, and consumer products—everything from toys to apparel, and books to video games.
Parks And Experiences
- Disneyland Resort
- Walt Disney World Resort
- Tokyo Disney Resort
- Disneyland Paris
- Hong Kong Disneyland
- Shanghai Disney Resort
- Disney Cruise Line
- Disney Vacation Club
- Aulani, A Disney Resort & Spa
- Adventures By Disney
- Walt Disney Imagineering
Disney Media & Entertainment Distribution
- ESPN PLUS
- Disney Music Group
- The Walt Disney Studios
- Walt Disney Animation Studios
- Pixar Animation Studios
- MARVEL STUDIOS LOGO
- Disney Theatrical Group
- 20th century studios
- Searchlight Pictures
General Entertainment Content
- ABC Entertainment
- ABC News
- Disney Branded Television
- Hulu Originals
- National Geographic
- Onyx Collective
ESPN and Sports Content
|Location||Property Size||Use||Business Segment|
|Burbank, CA & surrounding cities||Land (201 acres) & Buildings (4,695,000 ft)||Owned Office/Production/Warehouse (includes 240,000 ft sublet to third-party tenants)||Corporate/DMED/DPEP|
|Burbank, CA & surrounding cities||Buildings (1,821,000 ft )||Leased Office/Warehouse||Corporate/DMED/DPEP|
|Los Angeles, CA|
Land (22 acres) & Buildings (600,000 ft)
|Los Angeles, CA||Buildings (3,051,000 ft)||Leased Office/Production/Technical/Theater||Corporate/DMED/DPEP|
|New York, NY||Buildings (51,000 ft)||Owned Office||Corporate/DMED|
|New York, NY||Land (2 acres) & Buildings (2,186,000ft)||Leased Office/Production/Theater/Warehouse (includes 679,000 ft sublet to third-party tenants)||Corporate/DMED/DPEP|
|Bristol, CT||Land (117 acres) & Buildings (1,174,000 ft)||Owned Office/Production/Technical||DMED|
|Bristol, CT||Buildings (512,000 ft)||Leased Office/Warehouse/Technical||DMED|
|Emeryville, CA||Land (20 acres) & Buildings (430,000ft)||Owned Office/Production/Technical||DMED|
|Emeryville, CA||Buildings (80,000 ft)||Leased Office/Storage||DMED|
|San Francisco, CA||Buildings (638,000 ft)||Leased Office/Production/Technical/Theater (includes 47,000 ft sublet to third-party tenants)||Corporate/DMED|
|USA & Canada||Land and Buildings (Multiple sites and sizes)||Owned and Leased Office/Production/Transmitter/Theaters/Warehouse||Corporate/DMED/DPEP|
|Europe, Asia, Australia & Latin America||Buildings (Multiple sites and sizes)||Leased Office/Warehouse/Retail/Residential||DMED/DPEP|
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