Disney Headlines for May 14th, 2024
This week, we talk about Lou Holtz (kind of), DisneylandForward, and that guy from Shogun (whom I adore).
Disneyland Moves Forward
Photo: Disneylandforward
I remember that sinking feeling in the fall of 2022 when I started studying the public documents for the DisneylandForward project.
After only a few pages of research, I realized that DisneylandForward wasn’t what anybody thought it was.
Concept art of Third Theme Park expansion at Disneyland
Image Credit: Disney
The Happiest Place on Earth wasn’t promising new rides, themed lands, or a third gate.
No, Disney wanted to update zoning laws instead. I grew so frustrated that I benched that article for about six months.
Photo: Disney
Nobody wants to be the bearer of bad news. But I’m no longer that.
As Disney officials negotiated with Anaheim’s City Council and Planning Commission, everybody found a way to get what they wanted.
Disney
Disney has committed up to $2.5 billion to adding new attractions at Disneyland Resort, and it’ll also contribute some money toward affordable housing.
Why Anaheim Said Yes
Photo: Wikipedia
For its part, Anaheim will sell some roads to Disney in exchange for cash and the promise of more cash later.
Anaheim’s internal estimates suggest that Disney currently generates $140 million in tax revenue.
Photo: skillastics.com
Once DisneylandForward finishes in 2034, the new estimate doubles Disney-generated tax revenue to $280 million.
You get voted out of office if you turn down that deal.
Photos: Voice of OC
The kindly residents who appeared to speak against the project didn’t quite grasp that part.
Most of them seemed well-meaning and understandably afraid of more change in an area that’s already maximum Disney.
Photo: Spectrum News
Alas, there’s a saying about fighting city hall. And progress is inevitable everywhere, especially in large municipal areas.
On the bright side, Anaheim cut a very good deal for itself, forcing Disney to commit to at least $190 million in annual expansion.
Photo: LA Times
I strongly suspect that both sides view the DisneylandForward initiative as beneficial to the parks and the city alike.
This is a good deal for everyone, and as long as the economy remains strong, Disneyland will probably spend more than $1.9 billion by 2034.
The Goalposts Move on Disney
(Photo by James Gilbert/Getty Images)
Former Notre Dame head coach Lou Holtz often told iterations of the same joke about his tenure with the university.
Notre Dame fans hold the football program to the highest possible standards.
(Photo by Focus on Sport/Getty Images)
After a particularly good year, he was proud, but the boosters told him they expected Notre Dame to win all the games.
Then, the team went undefeated. Holtz expected the boosters to hail him as a conquering hero.
(Tom Williams/CQ-Roll Call, Inc via Getty Images)
Instead, they said, “No, we want to win them all by a big margin.”
I thought about that as I watched Wall Street analysts hem and haw as they tried to explain disingenuous events.
Photo: TechCrunch
Last Tuesday, Disney informed investors that the entertainment side of its streaming division had turned a profit.
This remarkable feat occurred less than 18 months after The Walt Disney Company had fired Bob Chapek after a Wall Street revolt.
Photo: Wikimedia
In that fiscal fourth quarter of 2022, Disney reported Direct-to-Consumer (DtC) losses of $1.474 billion.
For the most recent quarter, DtC experienced a shortfall of $18 million due to the modest losses on the sports side of streaming.
Image: The Wall Street Journal
The entertainment segment, the part that had been bleeding money, was suddenly profitable.
After this stunning announcement, the stock fell more than nine percent and has reset in the $105 range.
Photo: measureupgroup.com
Nobody can agree about why investors panicked over Disney’s announcement.
I’ve seen explanations involving the lack of revenue growth, expected stock stagnancy over the next quarter, and concerns about Linear Networks.
Photo: Washington Post
Someone even used the term “irreversible drag on earnings” to describe a segment with an operating income of $752 million.
That’s…a take. From the meta-perspective, Disney just won the big game, but the boosters still weren’t happy.
Confession: I Love Hiroyuki Sanada
(Photo by: Weiss Eubanks/NBC Universal via Getty Images)
According to Deadline, legendary actor Hiroyuki Sanada has signed on for a second season of Shogun on Hulu.
I’ll give fans of Shogun a moment to process the story. It’s not quite like announcing Titanic 2: Jack’s Revenge, but it’s close.
(Photo by Bleacher + Everard/Corbis via Contour by Getty Images)
This entire series of events has been fascinating to watch unfold, especially for me.
My old movie site was one of the first North American sites to cover a film called Ringu.
(Photo by Axelle/Bauer-Griffin/FilmMagic)
Sanada appeared in that title, which is the basis for The Ring, the Naomi Watts film where people watch a video and then die a week later.
Ringu opened the door for Sanada in Hollywood, and he became famous for roles in films like Tom Cruise’s The Last Samurai.
Disney has loved Sanada for a while, and I can prove it. Remember the “Don’t give me hope…” scene in Avengers: Endgame?
Yeah, that’s Sanada battling Hawkeye to the death, which gives the scene more heft for cinephiles.
Disney’s Shogun Call
Shogun, a remake of the 1970s limited series, became a passion project for Sanada, who produces and stars.
Disney recently revealed that Shogun is not just the biggest hit to date on Hulu but also selling new subscriptions.
Photo: Hulu
For this reason, Hulu officials had a hard call with the ten-episode story. Spinoffs, sequels, and prequels are a thing now.
However, author James Clavell only wrote one Shogun novel among his several collective works in the Asian Saga.
Photo: IMDB
As a former Japanese prisoner of war, Clavell aspired to tell “the story of the Anglo-Saxon in Asia.”
With Shogun, Sanada has effectively done the opposite as a Hollywood player who is Japanese by birth.
Photo: Disney
Sanada very well might win an Emmy Award for his performance here – he’s the heavy favorite at the moment – and everyone loves hits.
So, neither Disney/Hulu nor Sanada wanted this story to end. And it apparently won’t.
Photo: IMDB
By extending Sanada’s contract for a second season, Disney has ensured that the character of Lord Yoshii Toranaga will return.
Some Shogun loyalists are mortified by this thought, but this is Hollywood’s nature right now.
Photo: Also IMDB
Media corporations are more comfortable with established brands, which executives view as safer.
That reality makes the math here quite clear. There’s demand from consumers for more Shogun, even if the mere thought is blasphemous to some.
Photo: IMDB
Also, both the studio and the star want to tell more stories with these characters.
Shogun 2 is happening, and that’s surprising for a second reason.
Photo: Disney+
Disney has done plenty of belt-tightening lately, especially in streaming. That’s how the entertainment part of DtC turned a profit.
Shogun is the most expensive television season ever for Hulu, and the next one will cost even more.
Photo: THIERRY CHESNOT/GETTY IMAGES
Apparently, Shogun is selling enough subscriptions to justify its massive price tag.
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