Boardwalk Times: Stories from the Seashore — D23 Brasil, Disney Q4, and Moana 2
This month's newsletter will cover D23 Brasil, Disney Q4, and Moana 2.
Welcome back to Boardwalk Times: Stories from the Seashore!
This month is special as there will be not just one but TWO newsletters. This is the first newsletter of the month and the second will be on all things IAAPA, the largest trade show for the attractions industry. So be on the lookout for another newsletter later this month.
In this issue, we will be covering:
D23 Brasil Provided Brief Updates 🇧🇷
Disney Q4 Recap: Optimistic Outlook 📈
Moana 2 Box Office Tracking 🍿💰
Podcast Plugs 🎙
Links of the Month 📰
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D23 Brasil Provided Brief Updates 🇧🇷
D23 Brasil essentially acted as D23 Recap from August but in a new location. However, there were some differences. Let’s point it out.
Disney reached a different market: The company engaged Brazilian fans well throughout the weekend. Obviously, I still think there are some ulterior motives here whether it’s for Disney Experiences, D23, or Disney Cruise Line. D23 Brasil from the outside looked like part fan event, part market research.
Marvel Studios gave the crowd a Thunderbolts* special look: This is something we didn’t get at the Honda Center. I think Marvel Studios is doing a good job of positioning this film so far. I think Florence Pugh is awesome, and I love that this is basically a star outing for her.
Everyone got a Captain America: Brave New World hat: Which we didn’t get any giveaways at the Honda Center so this made me quite jealous. I was also jealous of D23 Brasil’s merch selection. But sigh, D23 could’ve given us a cool Feige hat!
Ice Age 6 was announced: A random announcement and not a ton of details. Disney is definitely banking on nostalgia. There are questions on which studio will animate the film as well. Disney wants to tap into all the Fox IP even the properties that are from the defunct Blue Sky Studios. We now know the new film is coming in December 2026.
Josh D’Amaro revealed the villains of Villains Land (so far): We have the full list in the Links of the Month section but to me, it’s no surprise to see Maleficent, Chernabog, Evil Queen, Hades, and others. However, I believe Magic Mirror will be involved. A bit baffled that Dr. Facilier from Princess and the Frog was snubbed though.
D’Amaro showed Imagineers doing some tests for the upcoming Cars attraction: The footage was a test of how the Imagineers want the Cars attraction to feel like. We can infer that this Cars attraction may be trackless which is quite fascinating because Disney trackless attractions have had reliability issues. Some fans were dogging the test footage because Cars will replace Rivers of America/Tom Sawyer Island. Construction starts next year, so I’m glad they are testing their ideas.
An additional look at the Pirates of the Caribbean Tavern (not official name) was shown: It was a simple piece of art but I feel like the Pirates Tavern (not official name) at Magic Kingdom will be a hit. Disney is also building Pirates lounges on the Disney Cruise Line as well. Remember Disney will use S.E.A., Pirates, and Haunted Mansion as IP expansions throughout the parks now.
Brazilians love Percy Jackson: There was a big presence for Percy Jackson during D23 Brasil. The Brazilian market are obviously fans of that show. Disney is continuing to press the gas pedal and making Percy Jackson feel big. I feel like a big move Disney could make is announcing a two-season renewal ahead of Season 2’s premiere later this year. That would spark some serious interest. Also curious if any Imagineers have been doing any Blue Sky work for this franchise…
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Disney Q4 Recap: Optimistic Outlook 📈
Disney hits just mean more. That was a big takeaway during the Disney Q4 call. Deadpool & Wolverine and Inside Out 2 proved the power of the Disney flywheel.
Streaming gains are real. Disney+ Core has over 120 million subscribers. Revenue for Disney’s entire DTC division was $5.8 billion, and operating income was $321 million. Disney expects its operating income total for DTC in FY2025 to be in the $1 billion range. Iger’s streaming vision may come true. DIS 0.00%↑ stock may finally get a stronger valuation.
Disney Experiences revenue rose 5% for the full year to $34.15 billion and operating income was up 4% to $9.27 billion. A juggernaut of a division! Disney expects to see 6% to 8% profit growth for experiences in fiscal 2025.
Advertising is something that Disney is passionate about. Iger also maybe was a bit too excited as he divulged that 37% of subscribers of Disney+ in U.S. are on the Disney+ ad tier. 30% on the ad tier globally. Whoops! FREE DATA!
Epic Universe's impact is already modeled into Disney’s current domestic parks forecast for 2025. I think people are underestimating Disney’s ability to pull various levers like new offerings, discounts, and deals. I think Epic Universe will be huge for Universal but if Disney plays its cards right they should still have a strong year.
Overall Disney Q4 painted a pretty optimistic outlook. Now it’s up to Wall Street to respond.
For more Disney analysis be sure to check out my mailbag from earlier this month where I answered questions about Marvel’s box office in 2025, Monsters Inc. Land/Muppet*Vision 3D, Walt Disney Animation film for 2026, Disney Cruise Line, WDW in 2025, Disney M&A, The Acolyte, under the radar/unlikely Disney CEO options & more.
Moana 2 Box Office Tracking 🍿💰
Moana 2 went from a Disney+ series that would’ve made approximately zero dollars to a potential billion-dollar film.
Box Office Tracking 🍿💰: Moana 2 is expected to make over $100M+ over the five-day Thanksgiving weekend. Some outlets are even projecting a total of nearly $200M. The pre-sales were obviously a strong indication that Moana 2 could be a massive hit.
Wide Range 💰: The current projections are wide-ranging but notably most outlets put Moana 2 making $120M to $150M over the five-day weekend.
Now why is that? 🍿: AMC CEO Adam Aron said Moana 2 could outgross Inside Out 2. Now why would he say that? For starters to build hype around his theatrical business. Although on the other hand, he may be seeing some projections here like the advanced ticket sales.
Things Are Looking Good 🍿💰: Moana 2 has the potential to be Disney’s third major film of the year. Disney CEO Bob Iger would love nothing more than to end the year on a high note but there’s also the Disney flywheel aspect. If Moana 2 performs well, it will likely greenlight some new Moana attractions at the Disney Parks and potentially provide a boost for the 2026 live-action Moana. Not to mention a big box office likely means Moana 3 eventually.
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Podcast Plugs 🎙
The Zach Perilstein Show had filmmaker Dane Tankesley on the pod to discuss his feature documentary Beyond the Glass: The WDW Animation Building. (Spotify) (Apple)
Catch up on our Agatha All Along after-show. (Spotify) (Apple)
LINKS OF THE MONTH
— Disney Succession Series: Longtime Disney Parks Exec Josh D’Amaro Has A Shot At Becoming Disney’s Next CEO. (Boardwalk Times)
— Should Universal get into the Cruise Line business? This is a great piece by Robert Niles. (Theme Park Insider)
— The Sound of Progress — Legendary Composer George Wilkins Passes Away at 90. (Boardwalk Times)
— The Disney Treasure, ahead of its maiden voyage, rescued 4 people off a sinking catamaran in Bermuda. (ABC News)
— This couple bought a Disney cabin built in 1998 for $53,375 and are making it their tiny home. (CNBC Make It)
— A mysterious spell will summon the villains of Disney into the Villains Land at the Magic Kingdom. Disney has confirmed some of the villains that are inspiring the land: The Queen of Hearts (Alice in Wonderland); Jafar (Aladdin); Lady Tremaine (Cinderella); Yzma (The Emperor's New Groove); Cruella de Vil (101 Dalmatians); Captain Hook (Peter Pan); Gaston (Beauty and the Beast); Mother Gothel (Tangled); Ursula (The Little Mermaid); Hades (Hercules); Chernabog (Fantasia); and The Evil Queen (Snow White and the Seven Dwarves) and Maleficent (Sleeping Beauty). (Entertainment Weekly)
— Obscure Disney 2003 game set in Winnie the Pooh universe becomes horror favorite online. (NBC News)
— My friend Dirk Libbey chatted with Shannon Tindle who almost made a Haunted Mansion animated series. (CinemaBlend)
— An Almost Christmas Story Is Sweet Yet Surprising. (Boardwalk Times)
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