Disney's Q1 FY2026 Earnings Call Live Blog: I'm Reacting To Bob Iger Talking Zootopia 2's Success, The Future Of Disney Parks, And More

See you all in about three months when we'll do this all again. By then we'll know who's taking the reins of The Walt Disney Company.

That wraps the Q1 earnings call. No major bombshells, but Disney is in a strong place on both the Experiences and Entertainment side. Whoever the next CEO is will likely inherit a strong organization. We should find out who that will be very soon.

Johnston responds to next question and the fact that Disney Entertainment won't be breaking down details between streaming versus linear networks, because Disney basically creates content for all channels.'

Final Question asks Bob Iger and the growth of Parks business over his tenure. Does he see Experiences driving the profits of the company for years to come or will things be more balanced?

Iger says his major acquisitions (Pixar, Marvel, Lucasfilm) opened the door to new Parks experiences. Iger is bullish on its ability to grow, but also thinks the Entertainment side has a strong future. He thinks either side has the ability to be the driver.

Another question on Sora and when it will start arriving, will there be longer videos?

Iger says no specifics on Sora are being announced, but he expects it will be this year.

Question asks about the drivers for the upcoming quarter and the year for Disney Entertainment. Johnston says the theatrical slate for the second part of the year is strong. Upcoming Disney movies like Toy Story 5, live-action Moana, and Devil Wears Prada 2 are called out.

Iger also mentions that the first Zootopia and first two Avatar movies saw a huge boost when sequels hit theaters. Expects the new movies hitting streaming will be big.

Next question leads to a discussion on streaming and the turn around on profitability. Iger thinks the reorganization on streaming under Bob Chapek didn't lead to enough "accountability." He thinks that's key to whatever structure any future CEO might implement.

Next Question: Asks about OpenAI deal and how that will manifest.

Iger says deal allows users to create 30 second videos with 250 characters, that do not include a voice or face. Disney can then post those videos to Disney+. Iger hopes to use Sora to allow Disney+ users to crate videos themselves on the Disney platform.

Question Four: Asks about new bundle initiatives for streaming, looking for opportunities for growth.

Iger talks about the value of new content and new technology. Says that streaming is seeing reduced churn, and bundles are a big part of that. Hulu's "fully integrated experience" on Disney+ is expected by the end of 2026.

Question the Third: Mentions Iger's big moves when he first became CEO. Asks if Bob sees any opportunity for big moves from the next CEO.

Bob Iger says a lot needed "fixing" when he came back, but he also set up the company for future growth. Iger says Disney is in better shape. He specifically brings up success of the success of Disney Experiences being in a good place to grow going forward. (A possible nod to Josh D'Amaro?)

Second Question: Improvement in domestic parks attendance overall, looking for info on Walt Disney World bookings, and future outlook.

CFO Hugh Johnstone, says WDW had strong attendance and pricing performance. Bookings are up 5% for the full year.

First question: Asked About Iger's view on the battle for Warner Bros. and how he sees it. Iger mentions that the Disney deal for Fox was "ahead of its time." Iger says the deal was "well priced." Iger celebrates the cross-promotional appeal of IP across company, successful movies lead to theme park attractions. Iger doesn't see a need for new IP.

Iger's opening statement is short and sweet, no major announcements, but now we'll see what happens with the Q&A.

Disney Experiences: Iger mentions the $10B in revenue. Mentions the World of Frozen opening at Disneyland Paris next month. Disney Adventure cruise ship will launch next month as well.

ESPN has been going strong thanks to Monday Night Football and NBA games. Disney's purchase of NFL Network has been completed.

On streaming, Iger says their getting "encouraging results" in local programming internationally. Iger says short form content from Sora will be coming to the platform following the Disney deal with OpenAI.

Iger opens with Disney's $6.5 billion 2025 box office, the third biggest in history. He highlights Zootopia 2, Avatar: Fire and Ash and Lilo and Stitch as the three that crossed the billion dollar mark.

The earnings call is officially underway. VP Carlos Gutierrez is giving the standard "forward looking statements" statement. Bob Iger will likely give his opening statement after that. If there's any big "news" to hit, it usually arrives during that part of the call.

My only request of the next CEO of Disney is that they not host earnings calls at 5:30 in the morning. Can we get a new chief executive who sleeps?

Disney's earnings report for the quarter has been released. It's generally good news, including $10 billion in revenue for the Disney Experiences (which includes Parks and consumer products), a first for the company. This is a good time for that particular division to be setting records, since its head Josh D'Amaro is one of the two who are believed to be in the race for the Disney CEO.

Of course, the other name in that race, Disney Studios co-head Dana Walden, had her own big win last quarter with Zootopia 2, the highest-grossing animated movie ever, and Avatar: Fire and Water, which may not have matched the previous films in box office, but was still a force.