CNBC News Releases

First on CNBC: CNBC Excerpts: Disney Chairman & CEO Bob Iger Speaks with CNBC’s Julia Boorstin on “Closing Bell” Today


WHEN: Today, Thursday, November 5th

WHERE: CNBC's "Closing Bell"

Following are excerpts from the unofficial transcript of a FIRST ON CNBC interview with Disney Chairman & CEO Bob Iger on CNBC's "Closing Bell" (M-F, 3PM-5PM ET) today. Following is a link to the interview on

All references must be sourced to CNBC.


It was a great quarter, up 35 percent and our media networks were up 27 percent. Actually, ESPN was up 30 percent in the quarter. And we also had incredible strength from our studio up over 100 percent. And some of our other key segments, parks and resorts, consumer products, also had very strong quarters.


We feel really bullish about our television businesses, in particular ESPN. And looking back on the quarter if we could do it over, we wouldn't. We wanted to be candid about what we were seeing. The fact remains that the guidance that we updated back then remains in place today. And ESPN's future, particularly given the array of great programming that they have and the demand that I just mentioned that's out there in the marketplace for it, remains very bright.


The key to success in media today is really three things. You have to have great product. You have to offer a good user experience meaning the product's got to be easy to find, easy to use, and mobility is really important particularly for young people. And we as a company have demonstrated a knack or a real interest in being at the cutting edge of new technology platforms. We're going to take advantage of it as we already are in the year ahead and the years ahead. It's that simple.


We're launching in the UK, actually in just a few weeks, an app or a service that is Disney branded that will have hundreds of movies, thousands of TV shows, thousands of books, thousands of songs, games, for instance, that are Disney branded. Again, one of the reasons why we're differentiated as a company is that brand – Disney. It's a direct to consumer product. It's going to sell for roughly just under ten pounds a month in the UK. We feel really good about it. It's technology we know that is leverage-able not just across markets around the world but it's also technology we can ultimately use for our other products.


We're continuing to do what we can to make the traditional platforms as successful as possible in this era. We feel good about a number of the steps we're taking in that regard. We think that there will be more to come. But generally speaking, as we look at the media environment, the opportunities that we have today to distribute our product to reach more people are greater than we have ever seen before and the appetite for high quality branded content.


We expect to open sometime in the spring of 2016. I am guessing that in the next four to six weeks we will be able to tell the public what date we're actually planning to open. We're not quite there yet. We felt great about this from the beginning. We continue to feel great about it. The opportunity to bring such a great product, a Disney theme park, to the most populous country in the world, to the most populous city there – to Shanghai, is really exciting for us.


Star Wars is premiering in the United States on December 18. Actually it will be available at 7 o'clock at night the night before. We are thrilled with the film. It's got something for everybody. I think one of the great things about it that JJ Abrams has done is he's managed to blend I think perfectly I'll call it the old and the new. And that essentially means that there is something for the most ardent, the most avid Star Wars fans that are out there. But it's also a film that will appeal to people that have never seen a Star Wars movie.


We can't believe, actually we're thrilled with the reaction so far to the trailers we've had in the marketplace, and I think that's evidencing itself in advanced ticket sales which have been really strong. Can't give away any of the plot right now. We are being really careful about that because there are so many moments in this film that are so exciting and thrilling. We want people to experience them for the first time when they go to the movies.

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