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1. Revenues for fiscal 2013 increased 7%, or $2.8 billion, to $45.0 billion
2. Income from equity investees increased to $742 million in the current year
from $627 million in the prior year due to an increase at AETN primarily due
Opportunities
1. Shanghai Disney Resort
In fiscal 2011, the Company and Shanghai Shendi (Group) Co., Ltd
(Shendi) received Chinese central government approval of an agreement to
build and operate a Disney Resort (Shanghai Disney Resort) in the Pudong
district of Shanghai at a planned investment of approximately 29 billion yuan
($4.7 billion). Construction of the project began in April 2011 and will include a
theme park, two hotels and a retail, dining and entertainment area. The resort is
owned by a joint venture in which Shendi owns 57% and the Company owns
43%, and the investment will be funded in accordance with each partner's
ownership percentage. An additional joint venture, in which Disney has a 70%
interest and Shendi a 30% interest, is responsible for creating, constructing and
operating the resort. Shanghai Disney Resort is currently targeted to open by
the end of calendar 2015.
The Shanghai Disney Resort is an upcoming theme park resort to be built
by Walt Disney Parks and Resorts. This would be the first Disney Park in
Mainland China and the second within the Greater China region, the other being
the existing Hong Kong Disneyland. Carrying Disneys theming traditions,
Shanghai Disneyland will be a Magic Kingdom-style Disney theme park featuring
classic Disney characters and stories blended with brand new attractions and
experiences specifically designed for the people of China. The park will include
six themed lands, which feature unique attractions, rides and immersive
experience.
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New analysis from Frost & Sullivan research firm suggests that the
IPTV subscriber base in Asia-Pacific covering 13 countries reached 4.1
million in 2007 and estimates this number to reach 22.4 million by the end of
2013, at a CAGR (compound annual growth rate) of 32.7 percent (20072013).
Asia-Pacific accounted for about a third of the global IPTV subscriber base
last year. Apart from South Korea which does not have true IPTV service, the
top two Asia-Pac countries by subscribers as at end-2007 are Hong Kong with
24.9 percent (1.02 million subscribers) of the region's IPTV subscriber base
and China with 22.7 percent (0.93 million).
By: CircleIDReporter
At the end of the third quarter of 2013, the research from Dataxis
shows that the Asia Pacific region has a whopping 538,486,593 pay TV
subscribers. For the same quarter from 2012, there were a total of
476,734,798 subscribers in the Asia Pacific region. This means the growth in
pay TV subscribers in a span of year has increased by 12.9%. The Asia Pacific
region accounted for more than 50% market share of the world pay TV
subscribers (394 million) in 2011.
Considering that Disney makes money mostly out of cable networks
and considering this trend in the Asia-Pacific regarding their pay TV
subscription, entering these emerging markets will also give Disney added
access to this region along with the opening of the Shanghai Disneyland.
Disney can, most especially, reach out to China although Disney Channel
was already launched a channel in mainland China. However, many of its
live-action and animated series are still syndicated on regional channels
through ABC owned Dragon Club since 1994.
THREATS
1. Changes in technology and in consumer consumption patterns
may affect demand for the companys entertainment products
and the cost of producing or distributing these products.
The media and studio entertainment in which the company participates
depend significantly on its ability to acquire, develop, adopt and exploit new
technologies to distinguish its products and services from those of its
competitors. In addition, new technologies affect the demand for its
products, the manner and markets in which oits products are distributed to
consumers, the sources of competing television and filmed entertainment,
the time and manner in which consumers acquire and view some of its
entertainment products and the options available to advertisers for reaching
their desired markets.In order to respond to these developments, the
company may be required to alter its business models and there can be no
assurance that it will successfully respond to these changes or that the
business models it develop in response to these changes will be as profitable
as its current business models. As a result, the income from its
entertainment offerings may decline or increase at slower rates than its
historical experience or its expectations when we make investments in
products.
In the table above, we can see how volatile the discounts rates used in
calculating the pension expense and the related assets and liabilities are.
They change everytime without the control of the company. Also, these
changes could have a huge effect on the companys profitability and
financial position.
The net income attributable to disney for the fiscal year 2013 was
impacted by Restructuring and Impairment charges totalling $214 million
and this amount includes those incurred in connection with the acquisition of
Lucasfilm. It has an effect on the EPS of the company as seen on the table
above.
Submitted by:
David, Lemmuel Jeremiah
Facundo, Shilleilee
Gesmundo, Nikka Rose
Gonzales, Ann Beatriz
Sibug, Regina
A-431
Submitted to:
Mrs. Carmi Y. Lao
November 25, 2014