The Walt Disney Company (DIS) UBS Global Media & Communications Conference summary

Strategic priorities and financial planning

• Focus on cost reduction and reinvestment into key growth areas, especially streaming and parks, to drive performance into 2025.

• Enhanced planning and forecasting processes to improve asset utilization and investor communication.

• Long-range planning and annual operating plans underpin guidance for returns on major investments.

• Confidence in emerging from industry disruption as a market leader.

Parks, experiences, and cruise business

• Cruise business set to double fleet size, with high margins and strong consumer demand, becoming a larger revenue contributor.

• Major park expansions, including new lands and attractions, expected to boost attendance and pricing power.

• Technology and cast investments aim to enhance guest experience and operational efficiency.

• Guidance for 6%-8% operating income growth in parks, with growth weighted to the second half of the year.

• International parks rebounding post-COVID, with Paris impacted temporarily by the Olympics but recovering quickly.

Pricing strategy and competition

• Pricing increases focused on premium offerings and value-added services, while maintaining accessibility at the value end.

• Anticipated competition from Epic Universe in Orlando factored into guidance, with potential for overall market growth.

• Early bookings for next summer are up year-over-year, indicating strong demand.