Disney FY 4Q16 Earnings Call Notes

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Bob Iger

Expect a robust slate in 2018

“We fully expect to return to more robust growth in fiscal 2018 and beyond, particularly given the powerful upcoming slates in our Studio. In fiscal 2018 alone, we have four new Marvel movies, three animated films from Pixar and Disney Animation, and two Star Wars releases, including Episode VIII which will also benefit our Consumer Products. ”

Too early to speculate about what changes in Washington mean for our business

“I think it’s really too early to speculate about what the changes in Washington are going to mean for our business or for businesses. We have, though, been exhorting Washington both the executive and the legislative branches to take a look at the current tax policy of the United States, particularly the corporate tax rate, and to close more loopholes but lower the corporate tax rate. We are no longer competitive with the rest of the world in that regard and that must be addressed. It’s possible that, given what’s gone on this week, that that’s likely to be addressed sooner rather than later. That’s obviously a good thing.”

Good that things are going smoothly. We’ve already prepared a bust of President elect trump for Disney World

“It’s also a good thing I think for the market and for most businesses that the transition is already off to what appears to be a fairly smooth start, meaning it looks like there’s cordiality, which we’ve not seen in a long time, and there’s an attempt by both sides, the incumbent and the President-elect, to approach this in a rational, cordial – I guess, the best way to – effective and polite way. That can only be good for business and for the country. And I think smooth transitions are good. I will say on the smooth transition front, we’re going through a smooth transition as well. We’ve already prepared a bust of President-elect Trump to go into our Hall of the Presidents at Disney World.”

Christine McCarthy

Fiscal 2017 will comp against a record breaking 2016

“I’ll remind everyone that results in fiscal 2017 will comp against a record-breaking 2016, due in part to the phenomenal success of Star Wars: The Force Awakens.”