The Walt Disney Company webcast its Investor Day 2020 on December 10, 2020. The event focused on the Company’s direct-to-consumer streaming services.
Information in this presentation, including financial estimates and statements such as those regarding expected results, growth, profitability, losses, expenses, performance, revenue (including by business or offering or ARPU) and margins; expectations about general markets, markets we may serve and our potential consumers or subscribers, including size or number, growth, composition, geography, consumption and other information; statements regarding the future of our offerings (including our direct-to-consumer offerings) including content, launch dates and timing, availability, investment, expense, pricing, technical performance and capabilities, advertising, marketing, distribution methodology and other expectations and plans regarding our offerings; our plans for the structure or financial reporting of our businesses; business plans and business discussions or negotiations; and other statements that are not historical facts may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of management’s views and assumptions regarding future events and business performance as of the time the statements are made. We are not under any obligation, and we expressly disclaim any obligation, to update, alter, or otherwise revise any forward-looking statements, whether as a result of new information, future events, or otherwise. You are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof. These forward-looking statements are subject to risks and uncertainties, and actual results might differ materially from those discussed in, or implied by, the forward-looking statements. Such differences may result from actions taken by the Company, including restructuring or strategic initiatives (including capital investments or asset acquisitions or dispositions), from execution risk in technology, service promotion, or creative development as well as from developments beyond the Company’s control, including:
- further changes in domestic and global economic conditions and competitive conditions;
- health concerns;
- consumer preferences; willingness to pay for an expanding set of direct-to-consumer services; and performance of the markets in which we operate, including the pay television ecosystem;
- government regulation, including revised foreign content and ownership regulations;
- poor quality broadband infrastructure in certain markets;
- international, political, or military developments;
- technological developments;
- labor markets and activities; and
- adverse weather conditions or natural disasters;
each such risk includes the current and future impacts of, and is amplified by, COVID-19 and related mitigation efforts.
Such developments may further affect entertainment, travel and leisure businesses generally and may, among other things, affect (or further affect, as applicable):
- demand for our products and services;
- performance of our direct-to-consumer technology platforms;
- performance of the Company’s theatrical and original direct-to-consumer releases;
- the advertising market for entertainment programming and services;
- expenses of providing medical and pension benefits;
- income tax expense; and
- performance or operations of some or all company businesses either directly or through their impact on those who distribute our products.
Additional factors are set forth in the Company’s Annual Report on Form 10-K for the year ended October 3, 2020 under Item 1A, “Risk Factors,” Item 7, “Management’s Discussion and Analysis,” Item 1, “Business,” and subsequent reports.