Christine McCarthy, Senior Executive Vice President and Chief Financial Officer, The Walt Disney Company and Rita Ferro, President, Advertising Sales, The Walt Disney Company, participated in a question-and-answer session at the 9th Annual MoffettNathanson Media and Communications Summit on Wednesday, May 18, 2022.
Certain statements in this discussion may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s future performance; business or financial prospects and plans; strategy or priorities; investment and business opportunities; financial or performance estimates or expectations; advertising outlook, plans and strategies; technology capabilities; future subscriber levels and growth, growth strategies and drivers; direct-to-consumer expansion and performance, including new subscription offerings; consumer demand and behavior; anticipated demand, timing, availability, utilization or nature of our offerings (including experiences, theatrical releases, direct-to-consumer offerings and content within our products and services); advertiser demand and behavior; competition; business recovery; impacts of COVID-19; and other statements that are not historical in nature. 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. Management does not undertake any obligation to update these statements.
Actual results may differ materially from those expressed or implied. Such differences may result from actions taken by the Company, including restructuring or strategic initiatives or other business decisions, as well as from developments beyond the Company’s control, including: further changes in domestic and global economic conditions; changes in or pressures from competitive conditions and consumer preferences; health concerns and their impact on our businesses and productions; international, regulatory, political, or military developments; technological developments; labor markets and activities; consumer or advertiser demand and behavior; adverse weather conditions or natural disasters; legal or regulatory changes; the advertising market for programming; and timing, availability and performance of content; 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): our operations, business plans or profitability; demand for our products and services; and the performance of the Company’s content.
Additional factors are set forth in the Company’s Annual Report on Form 10-K for the year ended October 2, 2021 under the captions “Risk Factors,” “Management’s Discussion and Analysis,” and “Business,” and subsequent filings with the Securities and Exchange Commission, including, among others, quarterly reports on Form 10-Q.