Disney CFO Hugh Johnston: New Movies, New Investments, & A New Sports Strategy 02/08/24

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 8 February 2024

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Disney’s first quarter earnings report beat estimates and revealed multiple new deals, releases and events in the year ahead. Disney’s new CFO Hugh Johnston discusses the media giant’s investment in Epic Games, its plan for an ESPN sports streaming service, and Taylor Swift’s Eras Tour, soon available on Disney+. Plus, NBC’s Chief International Correspondent Keir Simmons is on the ground in Iraq, after a U.S. drone strike killed a commander in an Iran-backed militia. Keir Simmons - 02:16 Hugh Johnston - 14:35 In this episode: Keir Simmons, @KeirSimmons Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. NBC producer Katie Kramer, today on Squawk Pod.
0:08.0	Disney's new CFO, Hugh Johnston,
0:12.0	the former Pepsi exec joins us in his first interview from the House of Mouse
0:16.4	after a big earnings beat.
0:18.0	I actually feel like this is long term a great industry. People want to be entertained.
0:22.1	People want to get news. People want to get sports.
0:24.4	Disney's Sports Streaming Deal with Fox and Warner Brothers Discovery.
0:28.8	You know, when we did this, we started from the perspective of the fan. How do we reduce friction? How do we make it
0:34.1	easier for the fan? And I think this product will actually do that very well.
0:38.3	How the company plans to change the game or games for fans and not just the sports ones.
0:44.0	For the second quarter, we're expecting subs to increase
0:46.9	by five and a half to six million globally
0:49.6	and actually seven and a half million in the US.
0:51.9	And obviously, Taylor Swift is just an amazing
0:55.1	phenomenon and she'll certainly contribute to that. That's coming up today
0:59.5	plus new details emerge from Jeffrey Epstein's links to Wall Street.
1:03.4	I've known some of them, savory characters over the last 30 or 40 years.
1:08.0	Yeah, never met Epstein.
1:09.0	Never met Epstein, never met Madoff.
1:11.0	And we're taking you on the ground in Iraq where a US strike has killed an Iran-backed
1:15.1	militia leader.
	...

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