"The second 100 years, will be as succesful as the first 100 years."

Regarding what he is most excited about over the next few years, Bob Chapek says they continue to reach new audiences with their storytelling.

Disney plans to close 100 international channels in 2021, as they continue to roll-out Disney+ internationally.

They delayed to launch of Star+ in Latin America which will allow them to highlight their sports programming.

The flexibility to pivot sports broadcasts to ESPN+ has been an important part of recent rights deals. (NFL, NHL, MLB, La Liga)

Disney creates 17,000 hours of local content for Hotstar in India each year.

The vast amount of European subscribers have activated the Star "tile"

In Europe, Disney actually saw improvements in churn rate when they increased prices and added Star.

Even with the price increase, Chapek feels they offer a good price to value proposition.

He corrected himself and said Boba Fett, but it is hard to tell if he just said something that had yet to be announced.

(He meant Boba Fett, apparently)

Bob Chapek just slipped and said "With Star Wars we have Han Solo....."

Disney expects full content flow to Disney+ in either the 2022 or 2023 fiscal years.

They will be marrying the parks business and the Disney+ business by sharing data.

"Never underestimate the power of the Disney Bundle"

Disney continues to be surprised by the number of houses without kids that have subscribed to Disney+

Luca is going to Disney+ as a way to ensure that the service has a good pipeline of content.

Chapek says this strategy is "priming the pump" for a return to theatrical releases

Franchise films, will typically get theatrically released. Black Widow is going hybrid due to being between restrictions and normal.

On the studio side, Bob says they have learned that "flexibility is good."

They are very pleased with the performance of their parks in Asia, especially Shanghai Disney.

Disneyland's reservation system will be used as a way to manage demand and ticket pricing.

Bob implies that virtual queues will continue after they return to "normal"

Other changes including expanding mobile ordering, contact-less check-in, and virtual queues.

Disney took the opportunity to revisit their park operations, such as pricing and the annual pass program at Disneyland.

Chapek reiterates that the "intent to visit" metric has returned to 2019 levels.

Bob Chapek says you will see more easing of capacity restriction and other guidelines, such as mask wearing, in their fourth quarter (July-September)

Bob says he expects low percentage increases in attendence over the next few months.

They hope to resume normal theme park operations as soon as it is allowable and responsible.

Bob Chapek says most of the investment in Walt Disney Imagineering projects have continued.

During the pandemic, they changed their structure to allow them to pivot both in terms of distribution and international growth

Bob Chapek says they are optimistic as ever regarding their business.

Bob says they are happy with the strategy they have and the merger doesn't impact them at all.

The first question is what Bob thinks of the merger of WarnerMedia and Discovery.

And here we go...

Welcome! Today's Q&A is set to begin at 2 p.m. PT (so in just a few minutes)