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Tag: Jay Rasulo

  • Flopped The Lone Ranger to cost Disney $190 million

    Flopped The Lone Ranger to cost Disney $190 million

    MUMBAI: As per the reports, Disney CFO Jay Rasulo has informed that the company is likely to incur a loss of about $160 – $190 million next quarter as a result of The Lone Ranger‘s weak box office run.

    The Gore Verbinski-directed western, which stars Johnny Depp and Armie Hammer, cost at least $215 million to produce but has only earned $175.5 million worldwide (it‘s only opened in about 40 percent of international markets) since its release on 3 July. Domestically, the film has earned $86.9 million – a larger total than Disney‘s 2012 mega-flop John Carter, which topped out at $73.1 million, but an alarmingly low one nonetheless.

    For Disney, the loss hurts, but it isn‘t crippling. The company‘s portfolio now includes cash cows like Pixar, Marvel, and the Star Wars empire, the former two of which already delivered massive returns this summer with Iron Man 3 and Monsters University grossing $1.2 billion and $614 million worldwide. And Disney recognises that its plan to produce fewer movies but make them all tentpoles is a high-risk/high reward business. “This branded tentpole strategy of ours, it‘s 100 percent what we‘re looking to do and what we want to be,” said Disney executive VP of distribution Dave Hollis, following The Lone Ranger‘s disappointing opening weekend.

  • Disney expands cruise line business

    Disney expands cruise line business

     MUMBAI: US media conglomerate Disney plans to expand its successful cruise business by adding two new ocean liners,

    Scheduled to launch in 2011 and 2012, the ships will more than double the passenger capacity for Disney Cruise Line to meet the sustained demand for Disney’s family cruise vacations.

    The company signed a letter of intent with Meyer Werft shipyard, based in Papenburg, Germany, to negotiate a contract to build the 122,000-ton new cruise liners, which will be two decks taller than the existing 83,000-ton ships, the Disney Magic and the Disney Wonder. Each ship will have 1,250 staterooms. Specific design plans and itineraries for the yet-unnamed ships are still in development and will be unveiled at a later date.

    Disney CEO Bob Iger says, “Since our maiden voyage in 1998, Disney Cruise Line has been a huge success for our guests and for our shareholders alike. It has brought our unparalleled family vacation experience to the high seas, and has also generated high margins and double digit returns on invested capital. We are excited to announce the expansion of our fleet, which is a logical next step in what is a real growth business for us.”

    Disney Cruise Line established the family market within the cruise industry when the business launched in 1998. The first two ships were purpose built for families to reconnect and recharge while creating vacation memories that will last a lifetime. From a theater featuring live musical spectaculars to a luxurious spa for adults and nearly an entire deck dedicated to children’s activities, the ships offer something for every member of the family. Disney Cruise Line continues to grow by attracting passengers who say they would not have cruised if it hadn’t been for the Disney brand.

    Disney Parks and Resorts chairman Jay Rasulo says, “Focussing on families has been smart business for us. More than 95 per cent of Disney Cruise Line guests rate their cruise experience as excellent or very good. Families know they can trust us to provide a quality, immersive Disney experience. As a result, Disney Cruise Line continually sets sail with the highest load factors in the industry of nearly 150 per cent.”

    Similar to the original Disney Cruise Line ships, the new ships will be a modern interpretation of classic ocean liners of the 1930s. Disney Imagineers drew their inspiration from the original trans-Atlantic ships that featured a dramatic black hull with two funnels and porthole windows. The profile of the ships, with its gentle curves at the stern combined with sleek angles at the bow, are reminiscent of the art deco designs of the era.

    To add whimsy to the classic design, the Disney ships have the same exterior colour palette as Mickey Mouse with black, white, red and yellow. The new ships will feature elegant, detailed Disney scrollwork at the bow and will evoke images of the glamour of the golden age of cruising.