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About Walt Disney Co
History of the company [1,2]
The Walt Disney Co was founded in 1923 by brothers Roy and Walt Disney. Then known as the Disney Brothers Cartoon Studio, the company got its start when it secured a contract from J. M. Winkler to produce a series of cartoons called Alice Comedies.
In 1928, the Walt Disney Co would introduce its most famous star – Mickey Mouse – which was an immediate hit as the main character in Steamboat Willie, the first animated film to feature synchronised sound.
In 1932, the company debuted Flowers and Trees, the first full-colour cartoon, which also won the first-ever Academy Award in the Cartoon Short Subject category. Disney went on to achieve many more groundbreaking successes, including Snow White and the Seven Dwarfs in 1937; the live-action feature Treasure Island in 1950; the opening of the Disneyland theme park in 1955, and later in 1971, Walt Disney World; and Mary Poppins in 1964 – the company’s most successful live action feature film of its time.
In recent decades, Walt Disney Co went on to make several headlining acquisitions, including Marvel in 2009; Lucasfilms in 2012; and 21st Century Fox in 2019.
That same year, the company launched Disney+, officially taking a stake in the lucrative streaming media segment. While the service saw a loss of 4 million subscribers in May 2023, Disney+ is still the second-largest player, behind only to Netflix.
Business segments [3]
Disney operates through various segments, including Media Networks, Parks, Experiences and Products, Studio Entertainment, and Direct-to-Consumer & International. Each segment contributes to the company’s success and showcases its diverse range of offerings.
In the Media Networks segment, Disney owns and operates prominent television networks such as ABC, ESPN, Disney Channel, and National Geographic.
The Parks, Experiences, and Products segment is responsible for Disney’s iconic theme parks, resorts, cruise lines, and vacation clubs.
Studio Entertainment is another vital segment, responsible for producing and distributing films under various banners, including Walt Disney Pictures, Pixar Animation Studios, Marvel Studios, and Lucasfilm.
The Direct-to-Consumer & International segment focuses on streaming services, including Disney+, Hulu, and ESPN+.
Disney is headquartered in Burbank, California, U.S. Its staff strength is estimated to be 223,000 [4].
About the stock DIS
DIS trading information
- Primary exchange: NYSE
- Ticker: DIS
- Country: U.S.
- Currency: USD
- Trading hours:
- Main: 9.30am to 4pm ET, Mon to Fri
- Pre-market: 4am to 9.30am
- After-market: 4pm to 8pm
When was DIS listed?
Although The Walt Disney Co issued over-the-counter stock in 1940, it wasn’t until 12 Nov 1957 when the company embarked on its IPO, co-led by Goldman Sachs. The stock DIS was listed at USD 13.88 per share (equivalent to USD 0.018 per share, adjusted for stock splits) [5].
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Stock splits and dividends
DIS does not currently pay a dividend, although it has declared dividends sporadically throughout its history. The last time a dividend was declared was in 2019, for a semi-annual dividend of USD 0.88, paid in Jan 2022 [6].
The stock has undergone a total of seven stock splits [7] .
| Jun 1998 | 3 for 1 |
| Apr 1992 | 4 for 1 |
| Feb 1986 | 4 for 1 |
| Dec 1972 | 2 for 1 |
| Feb 1971 | 2 for 1 |
| Oct 1967 | 2 for 1 |
| Aug 1956 | 2 for 1 |
Latest developments investors should note
Revenue for 2Q and 2H FY 2023 increased 13% and 10% respectively [8]
The Walt Disney Co managed to narrow its losses despite a loss of subscriber numbers and audience backlash resulting from recent creative decisions.
Revenue for the second quarter of the fiscal year rose by 13% year on year to USD 21.81 billion, bringing revenue for the first half of the year to USD 45.33 billion, a 10% increase year on year [9].
Earnings were driven by an improvement in direct-to-consumer operating income revenue of 12% to USD 5.51 billion on recent price increases, helping to narrow losses [10]. There was also higher subscriber revenue at Disney+ (up by 20% to USD 7.14 for domestic subscribers), although this was partially offset by lower operating income at Hulu [11].
Additionally, the company also saw a 20% fall in revenue for Disney+ Hotstar, which pushed global Disney+ average revenue per user to just USD 4.44 [12].
Nevertheless, the improvement in revenue points to the effectiveness of Disney’s efforts to right the ship. “We’re pleased with our accomplishments this quarter, including the improved financial performance of our streaming business, which reflect the strategic changes we’ve been making throughout the company to realign Disney for sustained growth and success,” said CEO Robert Iger [13].
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References
- “About the Walt Disney Company – The Walt Disney Company” https://thewaltdisneycompany.com/about/ Accessed 2 June 2023
- “Record Decline: Why Disney+ Lost Another 4 Million Subscribers – Forbes” https://www.forbes.com/sites/tonifitzgerald/2023/05/10/record-decline-why-disney-lost-another-4-million-subscribers/?sh=5a928e2a7963 Accessed 2 June 2023
- “About the Walt Disney Company – The Walt Disney Company” https://thewaltdisneycompany.com/about/ Accessed 2 June 2023
- “THE WALT DISNEY COMPANY STATISTICS AND DEMOGRAPHICS – Zippia” https://www.zippia.com/the-walt-disney-company-careers-11541/demographics/ Accessed 2 June 2023
- “Disney Magic Comes to NYSE in IPO – Goldman Sachs” https://www.goldmansachs.com/our-firm/history/moments/1957-disney-ipo.html Accessed 2 June 2023
- “The Walt Disney Company – Dividend.com” https://www.dividend.com/stocks/communications/media/entertainment-content/dis-the-walt-disney-company/ Accessed 2 June 2023
- “Frequently Asked Questions – The Walt Disney Company” https://thewaltdisneycompany.com/investor-relations/#frequently-asked-questions Accessed 2 June 2023
- “THE WALT DISNEY COMPANY REPORTS SECOND QUARTER AND SIX MONTHS EARNINGS FOR FISCAL 2023 – The Walt Disney Company” https://thewaltdisneycompany.com/app/uploads/2023/05/q2-fy23-earnings.pdf Accessed 2 June 2023
- “THE WALT DISNEY COMPANY REPORTS SECOND QUARTER AND SIX MONTHS EARNINGS FOR FISCAL 2023 – The Walt Disney Company” https://thewaltdisneycompany.com/app/uploads/2023/05/q2-fy23-earnings.pdf Accessed 2 June 2023
- “Disney’s streaming losses improve even as subscriber numbers decline – CNBC” https://www.cnbc.com/2023/05/10/disney-dis-earnings-report-q2-2023.html Accessed 2 June 2023
- “Disney+ Domestic Revenue Per User Surges 20% as Streaming Division Losses Shrink – Yahoo! Life” https://www.yahoo.com/lifestyle/disney-domestic-revenue-per-user-210608161.html Accessed 2 June 2023
- “The Walt Disney Company Reports Second Quarter and Six Months Earnings for Fiscal 2023 – Businesswire” https://www.businesswire.com/news/home/20230510005954/en/The-Walt-Disney-Company-Reports-Second-Quarter-and-Six-Months-Earnings-for-Fiscal-2023 Accessed 2 June 2023
- “The Walt Disney Company Reports Second Quarter and Six Months Earnings for Fiscal 2023 – Businesswire” https://www.businesswire.com/news/home/20230510005954/en/The-Walt-Disney-Company-Reports-Second-Quarter-and-Six-Months-Earnings-for-Fiscal-2023 Accessed 2 June 2023
