DIS CEO Josh D'Amaro Says He And Investors Are 'Not Happy' With Stock Price — Bets On Disney’s ‘Exceptionally Powerful’ Troika Of IP, Scale And Fans

• D’Amaro said Disney’s intellectual property gives the company an advantage as entertainment companies increasingly seek to acquire valuable franchises, scale and complementary businesses.
• He pointed to Disney’s extensive library of characters and franchises as a key asset that can drive value across its businesses.
• D’Amaro said bringing those assets together under a unified Disney strategy could be particularly powerful for the company.

The Walt Disney Co. (DIS) CEO Josh D’Amaro on Friday acknowledged investor frustration with the company’s stock price, but said the company is in a strong position as it enters its next chapter, pointing to its streaming business, theme parks, ESPN and movie slate.

During an interview with CNBC on the sidelines of the D23 Expo, D’Amaro said that he is “feeling pretty good” about where Disney is right now, nearly six months into his role as the company’s CEO.

“I'm not happy with where the stock stands right now. Our investors aren't happy with that, but I do believe that we're sitting in a very great space relative to the entertainment industry,” he said.

Disney shares were up more than 1% in Friday morning’s trade.

D’Amaro Bets On Disney’s ‘Exceptionally Powerful’ IP

D’Amaro said Disney’s intellectual property gives the company an advantage as entertainment companies increasingly seek to acquire valuable franchises, scale and complementary businesses.

“If you look at what’s happening all around us, companies are trying to acquire scale or acquire IP or acquire additional businesses. And the reason that they’re trying to do that is because they want to look a little bit more like Disney,” he added.

D’Amaro pointed to Disney’s extensive library of characters and franchises as a key asset that can drive value across its businesses.

“We have the deepest library of intellectual property and characters and franchises by far,” D’Amaro said. “Our scale is enviable. The connection that we have with fans, you see it here, right here at D23, is palpable.”

D’Amaro said bringing those assets together under a unified Disney strategy could be particularly powerful for the company. “We have everything that we need right now, putting those things together, under, I got to put one Disney frame, I think, is exceptionally powerful,” he added.

Disney’s Next Chapter Is About Execution, Says D’Amaro

D’Amaro said Disney’s next chapter will focus on continuing growth in streaming, improving margins, investing in its experiences business, moving ESPN toward direct-to-consumer and delivering strong films.

He pointed to the company’s recent performance as evidence that its strategy is already producing results.

“It is not just me hoping, it’s gonna happen. We’re actually delivering on that,” D’Amaro said, referring to Disney’s streaming growth, parks performance and other businesses.

He also said the company wants to move with “more speed and urgency,” embrace technology more aggressively, and operate as “one Disney.”

D’Amaro Wants To Turn DIS Businesses Into A Flywheel

D’Amaro said Disney’s opportunity lies in getting consumers to engage with multiple parts of its business, from theme parks and Disney+ to merchandise and movies.

“One of the things we know is that if a consumer is exposed to multiple parts of our business, there is a theme park visitor that then becomes a Disney+ subscriber, that Disney+ subscriber, then buys merchandise,” he said.

D’Amaro said consumers who interact with multiple Disney businesses generate significantly more value than those who engage with just one part of the company. Disney wants to make those interactions more seamless and bring its businesses together under a unified consumer experience.

“If it’s a seamless fan experience, I think that lifetime value goes up, and we drive top line and bottom line,” D’Amaro said.

He also pointed to Disney+ as a potential centerpiece for that strategy, saying the company wants to bring more of its businesses and experiences onto the streaming platform.

What Retail Traders Think Of DIS Stock

Retail sentiment on Stocktwits around Disney trended in the ‘neutral’ territory, with message volumes at ‘high’ levels.

DIS stock is down 7% year-to-date and 9% over the past 12 months. The S&P 500 ETF (SPY) is up 20% over the past 12 months, while the Vanguard Total Stock Market Index Fund ETF (VTI) is up 21%.

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