The Walt Disney Company (NYSE:DIS) Q1 2017 Earnings Conference Call - Final Transcript

Feb 07, 2017 • 04:30 pm ET


The Walt Disney Company (NYSE:DIS) Q1 2017 Earnings Conference Call - Final Transcript


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Welcome to The Walt Disney Company Q1 FY17 Earnings Conference Call. My name is Victoria, and I will be your operator for today's call.

(Operator Instructions)

Please note that this conference is being recorded. And I'll now turn the call over to your host, Lowell Singer, Senior Vice President of Investor Relations. Lowell, you may begin.

Lowell Singer

Good afternoon, and welcome to The Walt Disney Company's first quarter 2017 earnings call. Our press release was issued about 25 minutes ago, and is available on our website at Today's call is also being webcast, and we will post a transcript and a copy of the webcast to 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 will be happy to take your questions. With that, let me turn the call over to Bob and we can get started.

Bob Iger

Thanks Lowell, and good afternoon. We're very happy with our results for the quarter, and we continue to be extremely confident in our ability to drive significant long-term growth. Coming off an historic performance last year, including more than $7.5 billion in global box office, we are thrilled with the continued success of our studio in the first quarter.

All three films released by the studio in the quarter were global hits. Marvel's Dr. Strange became the latest addition to Marvel Studio's winning streak, generating $670 million in global box office, and sending us into the new fiscal year with some great momentum.

We followed that success with Disney Animation's newest musical masterpiece, Moana, which has achieved total worldwide box office of $555 million, along with two Oscar nominations for outstanding animated feature and original song. We're incredibly proud of this movie, as well as Zootopia, which topped $1 billion in box office, and also earned an Oscar nomination.

Rogue One, our first standalone Star Wars story, also connected with audiences in a big way. It is our first $1 billion movie of the fiscal year, as well as our fourth $1 billion release in calendar 2016, further demonstrating the incredible strength of this franchise.

Star Wars: The Last Jedi, otherwise known as Episode VIII will open in December, and I just saw it last week, and it is a great next chapter in the iconic Skywalker family saga. It will be followed by our Han Solo origin film, which is just going into production.Our studio's next release is our live-action Beauty and the Beast, premiering in March. The anticipation and excitement around this movie is astonishing.

The first trailer drew more than 127 million online views in the first 24 hours, breaking the record held by Star Wars: The Force Awakens. And the trailer we released last week also generated more than 100 million views. The first week of ticket presales has also been very strong, reminiscent of presales of some of our