Disney CEO Bob Iger tells Cast Members that theme parks 'is a business where you spend to succeed'

Nov 28, 2023 in "The Walt Disney Company"

Posted: Tuesday November 28, 2023 3:00pm ET by WDWMAGIC Staff

Disney CEO Bob Iger hosted a Town Hall session with Cast Members today, discussing the company's recent achievements and future building opportunities.

 

Despite not taking questions or making any new announcements, Iger continued reiterating recent messaging that Disney plans to invest heavily in the company's theme park segment.

Referring to the recently announced $60 billion investment in parks and resorts across the next ten years, Iger told Cast Members watching the virtual event that "this is a business where you spend to succeed." Iger has previously said that the investment would allow for expanding and enhancing domestic and international parks and cruise line capacity.

Speaking in April 2023 at the Walt Disney Company Annual shareholder meeting, Disney CEO Bob Iger said that Disney plans to spend $17 billion over the next ten years, specifically at Walt Disney World, bringing 13,000 new jobs to the area.

Interim CFO Kevin Lansberry told investors earlier this month to "expect those investments to ramp up towards the back half of that 10-year period with more gradual increases in the first few years."

Iger was joined at today's Town Hall by the four Disney segment Chairmen - Alan Bergman, Josh D'Amaro, Jimmy Pitaro, and Dana Walden.

Today's Town Hall session comes almost a year after Iger returned to the top job at Disney. When asked about the challenges facing him on his return, Iger said, "I knew that there were a myriad of challenges that I would face coming back. I won't say that it was easy, but I've never second-guessed the decision to come back, and being back still feels great."

In a previous memo to employees inviting them to the session, Iger said, "As I reflect on the immense progress we've made this year and look ahead to the many opportunities before us, I'm grateful to all of you - the people of this great company - for the tremendous work you do each and every day to ensure we continue delivering incredible entertainment for our audiences, guests, and fans all over the world."

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    MisterPenguin30 days ago

    DCBaker30 days ago

    Bob Iger comments on gaining full control of Hulu in an interview with CNBC this morning:

    BrianLo30 days ago

    Well that ended fairly silently and non dramatically.

    MisterPenguin30 days ago

    Yeah, my money's on 'shortly after Hulu+Live gets subsumed into Fubo', too.

    Comped30 days ago

    Hulu really should eventually get rebranded to Star like its equivalent in the rest of the world (since they need a general non-kid show tile), but Disney won't do that because of Hulu's capital with US consumers. Especially once the Hulu Live TV is either merged with Fubo or killed off, which is likely.

    DisDude3330 days ago

    So how long do we think it will take for Hulu to disappear and all of it’s shows to get rebranded as “Disney+ original”?

    Sirwalterraleigh30 days ago

    …and just think: the maker of andor just said that the bosses told him streaming is “dead”

    DCBaker30 days ago

    In a new SEC filing, Disney says an additional $438.7 million is payable by Disney to NBCU to purchase NBCU’s interest in Hulu. Here's a statement from Bob Iger: We are pleased this is finally resolved. We have had a productive partnership with NBCUniversal, and we wish them the best of luck. Completing the Hulu acquisition paves the way for a deeper and more seamless integration of Hulu’s general entertainment content with Disney+ and, soon, with ESPN’s direct-to-consumer product, providing an unrivaled value proposition for consumers. Robert A. Iger, Chief Executive Officer, The Walt Disney Company From the filing: On November 1, 2023, a subsidiary of NBC Universal (collectively with its subsidiaries, “NBCU”) provided notice to a subsidiary of The Walt Disney Company (collectively with its subsidiaries, “Disney”) of its exercise of its right under a put/call arrangement to require Disney to purchase NBCU’s 33% interest in Hulu, LLC (“Hulu”) at a value based on NBCU’s equity ownership percentage of the greater of Hulu’s equity fair value, determined pursuant to a contractual appraisal process, or a guaranteed floor value of $27.5 billion (the “guaranteed floor value”). In December 2023, Disney paid NBCU approximately $8.6 billion, which reflected the guaranteed floor value less NBCU’s unpaid capital call contributions. During the initial phase of the appraisal process, Disney’s appraiser arrived at a valuation below the guaranteed floor value, while NBCU’s appraiser arrived at a valuation substantially in excess of the guaranteed floor value. The final equity fair value, which was completed on June 9, 2025, takes into account the valuation of a third appraiser, which if it had been equal to or below the guaranteed floor value would have resulted in no additional amount payable to NBCU and if it had been consistent with the NBCU’s appraiser’s valuation would have resulted in an additional amount of approximately $5 billion payable to NBCU as its share of the difference between the equity fair value and the guaranteed floor value. Pursuant to the contractual appraisal process that was completed on June 9, 2025, an additional $438.7 million is payable by Disney to NBCU to purchase NBCU’s interest in Hulu. This amount will be recorded in “Net income attributable to noncontrolling interests” and thus reduce “Net income attributable to Disney” in our Condensed Consolidated Statements of Income for our fiscal third quarter. This amount is also expected to be excluded when Disney reports Adjusted EPS, the non-GAAP measure representing diluted earnings per share excluding certain items, and therefore is not expected to impact Disney’s previous guidance on fiscal 2025 Adjusted EPS. The acquisition of NBCU’s interest in Hulu will close on or before July 24, 2025.

    SirwalterraleighJan 24, 2025

    Say it 1000 times…it’s not gonna be true Doubling prices in 10 years is not “inflation” And not only that…that government sanctioned (frankly) excuse from the plague is starting to collapse…as products are increasingly rejected Get your popcorn and watch it play

    SirwalterraleighJan 24, 2025

    That would involve reading books…or Wikipedia at a minimum… It’s a lot to ask 🤪

    JD80Jan 24, 2025

    Price increase recently have been basically on par with inflation.

    AylaJan 24, 2025

    And prices continue to rise at a ridiculous rate...

    DranthJan 24, 2025

    What amazes me it that this has been repeated throughout history over and over and over and yet we never seem to learn that eventually people break when things get this far out of whack.

    SirwalterraleighJan 24, 2025

    I don’t…it’s 100% about growing economic strife…for decades Even when it’s not “about that”…it ultimately gets back to it. Anger 101