Disney Q1 2025 Earnings Call Live Blog: Bob Iger Looks At The Year Ahead For Marvel, Star Wars, Disney Parks And More

And that's the end of the call. A surprisingly short discussion with little preamble from Iger. Unclear i that's just because there was little to say. It could be because the Disney Shareholders Meeting is set for March, so any deeper discussion is being held for that meeting. Still, things from a financial perspective at Disney are solid.

Last question is on ESPN flagship streaming and linear networks. Iger calls linear networks an asset, not a burden. Iger won't rule out changes in them at some point but isn't planning anything. Iger thinks ESPN needs to be streaming to attract younger viewers who prefer streaming to traditional.

Growth in Disney+ this year is not expected to be particularly high this year, but Iger says they are "very pleased" with the number. Price increase didn't reduce churn as much as expected.

My other favorite part of Disney earnings calls is how they start the Q&A by saying please only ask one question, and then everybody asks multiple questions.

Question on the Disney Treasure Launch and Lightning Lane Premier Pass at Disney Parks, and how they have gone.

Hugh Johnston calls the Treasure launch "spectacular." Expectations are the ship will be profitable in the first quarter. Johnston says Premiere is being "marketed very gently" as they learn how to manage it properly.

Next question is about NBA, ratings have been down. Iger says they don't look at any of their licenses individually, he's still positive on the NBA deal overall. Iger then discusses streaming overall. He's confident on subscriber growth overall. Iger says news growth, both ABC and local stations, will be part of Disney+ growth.

Next question or CFO Hugh Johnson is on Disney's cost-cutting initiatives. Disney's growth in Q1 was far above the company's own expectations. Johnston says they're not changing guidance because the rest of the year is still full of unknowns.

Next question on the Fubo deal and the death of the sports steaming project Venu. Iger brings up the already-announced plan to make ESPN a standalone streaming option. Iger indicates that between the Fubo and ESPN plans, the sports streaming package was redundant.

Question one is about streaming profitability. Iger says password sharing, ad tech and other innovations will help.

On the topic of Epic Universe opening and how that may impact Disney Experiences business. Hugh Johnston says there's no change to the previous guidance. Disney has quietly indicated that they do expect an impact on Disney World attendance, but they think they've properly prepared for that.

Bob Iger gives a surprisingly short opening statement. Brings up the success of the movie studio, in 2024, but that's all. We then go write into Q&A

Bob Iger opens the call with a statement on those affected by the Southern California wildfires. Many Disney Cast Members were impacted and even stayed at Disneyland hotels while they were evacuated.

The most fun part o the earnings call is the pre-meeting hold music. It's always different so it's something they clearly use to promote the newest hit or whatever else they want to bring attention to. Call will start any minute

Disney's earning report is out. Some highlights include:

• Revenue: $24.7 billion
• Income: $3.7 billion
• EPS: $1.40
• Disney+/Hulu subscribers: 178 million
• Disney Experiences Revenue: $9.4 Billion
• Disney Experiences Operating income: $3.1 Billion