☀️ DIS 🤐 on Trump, Streaming 💰 Gets Real in '25

‘Moana 2’ saves Q1 movie 💰 / VENU dents sports 💰 / China 👎, U.S. 👍 for Theme Parks

Good Afternoon! I’m trading my ☕️ for a #medianerd🤓 🥪 to dive into what DISNEY revealed about the state of its businesses to start 2025.

DISNEY largely had pretty good Q1 numbers — even in its movie biz line! It’s amazing what Moana 2 home entertainment money can do to save Snow White’s dropping of the ball. Chee-Hoo indeed, Ms. White.

Bigger picture though, it’s important to note that as 2025 begins — DISNEY really has transitioned the Entertainment portion of its revenues away from the melting cable biz (note that Sports/ESPN is a different division now . . . and certainly is still more exposed), so I’ll dive into the numbers there that indicate the shifts in narrative.

But the lack of conversation around some pretty large looming topics at DISNEY was also quite notable . . . so let’s dive into those to begin.

Although first, the most important thing of all in Hollywood — a look at how the company is doing compared to its neighbors (👋 NETFLIX).