Disney CEO Josh D’Amaro just showed employees appreciation after a strong earnings report.
“The results we reported are not just numbers on a page — they are a direct reflection of your hard work, creativity, and the way you deliver for our fans every single day,” D’Amaro told employees on Wednesday morning in a memo obtained by Business Insider.
In his memo, D’Amaro named four top priorities:
- Investing in the breakthrough creative storytelling that sets Disney apart
- Strengthening our streaming business through product and technology innovation
- Fully capturing the power of live sports as we continue building ESPN’s direct-to-consumer business
- Delivering on our bold growth plans at Disney Experiences
“I’m grateful for the passion, resilience, and optimism you bring to your work, and I’m energized by the opportunities in front of us as we lay the groundwork for Disney’s next phase of growth,” D’Amaro told staffers.
Disney’s earnings report came after a turbulent few weeks for the company.
The Mouse House conducted a significant round of layoffs in mid-April, weeks after D’Amaro took charge. Those affected got severance pay that was based on their seniority and time at the company, Business Insider reported.
Two weeks later, Disney told some tech employees that it was cutting their stock-based compensation, based on “marketplace analysis” of pay, Business Insider reported.
Read D’Amaro’s full memo to the Mouse House rank-and-file here:
Dear Fellow Employees and Cast Members, Today marked my first earnings call since stepping into the role as CEO, and I wanted to take a moment to connect with you, because the results we reported are not just numbers on a page — they are a direct reflection of your hard work, creativity, and the way you deliver for our fans every single day. This was a strong quarter for our company both creatively and financially, and we grew revenue and operating income year-over-year as we continue to execute on the priorities that unlock value for both consumers and shareholders: First, we are investing in the breakthrough creative storytelling that sets Disney apart. Hoppers won critical acclaim and was embraced by fans, serving as a reminder of Pixar’s track record of creating original IP that resonates around the world. We’re thrilled with last weekend’s opening of The Devil Wears Prada 2, and we’re especially excited for our upcoming slate, including The Mandalorian and Grogu, Toy Story 5, the live-action Moana, and Avengers: Doomsday. Second, we are strengthening our streaming business through product and technology innovation. We made meaningful progress during the quarter with product enhancements that improved the Disney+ user experience, and on the content side, highlights included the arrival of Zootopia 2, Predator: Badlands, Disney+’s Hannah Montana 20th Anniversary, Hulu’s Paradise Season 2, and FX’s Love Story: John F. Kennedy Jr. and Carolyn Bessette. As we look to grow Disney+ internationally, we’re increasing our investment in local originals, and early results are encouraging with popular series like Battle of Fates in Korea and Rivals in the UK, which begins its much anticipated second season May 15. Third, we are fully capturing the power of live sports as we continue building ESPN’s direct-to-consumer business. Evidence of ESPN’s brand strength and compelling content was clear in Q2, with ESPN having the largest share of linear sports consumption among total viewers this quarter. Meanwhile, enhancements to the ESPN app, including Multiview, Verts, and SportsCenter for You, are making the product increasingly compelling for sports fans. And fourth, we are delivering on our bold growth plans at Disney Experiences. Since our last earnings call, Disney Cruise Line launched the Disney Adventure — our first ship home-ported in Asia — and at Disneyland Paris we opened World of Frozen in the reimagined Disney Adventure World. These are milestones that extend the reach of our brands to new markets and new fans around the world, and I was proud to join Cast Members and guests at the launch of both. The strong demand we are seeing for these new offerings reinforces our confidence in the long-term opportunity across our portfolio of parks, cruise ships, and immersive experiences alike. I’m incredibly proud of what we accomplished together this quarter, and I encourage you to read more about our achievements in our letter to shareholders. I’m grateful for the passion, resilience, and optimism you bring to your work, and I’m energized by the opportunities in front of us as we lay the groundwork for Disney’s next phase of growth. Thank you, Josh
