The Walt Disney Company (NYSE:DIS) Q4 2016 Earnings Conference Call - Final Transcript

Nov 10, 2016 • 05:00 pm ET


The Walt Disney Company (NYSE:DIS) Q4 2016 Earnings Conference Call - Final Transcript


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Welcome to The Walt Disney Company's Fiscal Full Year and Q4 FY16 Earnings Conference Call. My name is Anna and I will be your operator for today's call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. Please note that this conference is being recorded.

I will now turn the call over to Lowell Singer, Senior VP of IR. Please go ahead.

Lowell Singer

Good afternoon, and welcome to The Walt Disney Company's fourth quarter 2016 earnings call. Our press release was issued about 45 minutes ago and is available on our website at Today's call is also being webcast and a recording and transcript will also be available on our website.

Joining me for today's call are Bob Iger, Disney's Chairman and Chief Executive Officer; and Christine McCarthy, Senior Executive Vice President and Chief Financial Officer. Bob will lead off followed by Christine and then, of course, we'll be happy to take your questions.

So with that, let me turn it over to Bob and we can get started.

Robert Iger

Thanks, Lowell, and good afternoon. We just finished a great year, our sixth consecutive year of record results. And since fiscal 2013, we've delivered EPS growth of almost 20%. Fiscal 2016 also included two of the most important achievements in the history of our company: the phenomenal return of Star Wars and the spectacular opening of Shanghai Disney Resort. We're extremely proud of these accomplishments which will drive long-term growth for our company. Star Wars: The Force Awakens exceeded $2 billion in global box office, making it the third highest grossing movie of all-time and we're only just beginning to reap the benefits of our Lucasfilm acquisition.

Next up we have Rogue One, a fantastic original Star Wars story, opening in December. Star Wars: Episode VIII will be in theaters December of 2017, followed by a standalone movie about young Han Solo in 2018. And we'll release Episode IX the following year. Work on all those movies is already underway and we're thrilled with what we've seen so far.

The magnitude of our Studio's success in fiscal 2016 is simply stunning. We released four films that broke $1 billion in worldwide box office, The Force Awakens, Captain America: Civil War, Finding Dory, and Zootopia. And Jungle Book came very close with $966 million. Our Studio slate topped a record-breaking $7.5 billion in total box office for the year. Disney, Pixar, Marvel, and Lucasfilm all contributed to this remarkable achievement, and their creative momentum continues.

Doctor Strange just opened to great numbers, Marvel's 14th consecutive movie to open at number one at the US box office. And it has already surpassed $377 million worldwide. Our next animated musical, Moana, is already generating great buzz ahead of its opening later this month. And we expect it will join the pantheon of recent hits from Disney Animation alongside Zootopia and Frozen.

Turning to our success in Shanghai, we welcomed four million guests in our first four months