That's a wrap! See you next quarter :)

On the "Disney Metaverse," Chapek says it gives a 3D canvas for their storytellers. It could be VR, but it could be something else as well.

Chapek reconfirms that they are in negotiations for the NFL Sunday Ticket rights.

The $1.99 Disney+ promo is not a reaction to low subcriber growth, according to Chapek.

Bob Chapek says the growth of Disney+ will come from entering new markets and from new content.

As we wait, Disney is now down 5% in after hours trading.

That is a wrap on the call, but we will stay here as Bob Chapek is set to do an interview with CNBC in just a few moments.

Bob Chapek says sports betting is important to younger sports fans, so Disney needs to consider how to do it without impacting the Disney and ESPN brands. Chapek says that the public perception around gambling has changed, according to their research.

Disney, and everyone, is seeing inflation pressure. They are trying to find ways to minimize impact (change providers, smaller portion sizes, etc), but don't want to do any "across the board" changes.

Disney is focused on improving preschool content on Disney+

Bob Chapek says their franchises have been built on theatrical distribution. That being said, they are watching to see the reception to the different types of films to see if the audience will come back. They are particularly focused on seeing if family films will regain their theatrical audience.

When Genie/Genie+ launches at Disneyland, they expect the reaction to be as strong, or even stronger, than Walt Disney World.

Mobile food ordering, contact-less check-in, and virtual queues are listed as ways Disney is able to lower costs while improving the guest experience.

Bob Chapek talks about how impactful, in terms of earnings, having 1/3 of guests paying an extra $15 per day per guest will have.

Disney expects Disney+ subscriber growth to be meaningful higher in the second half of the year than in the first half.

In that quarter, Disney expects to release Ms. Marvel, Andor, and Pinocchio during that quarter.

Disney+ will not reach their desired content schedule until the fourth quarter (July). 

Inflationary pressure, Avengers Campus, Cruise Ship Expansion, and the EPCOT transformation are some examples of reasons given that costs will increase next year.

Disney spent less on capital expenditures due to delays. They expect that to reverse due to renewed spending including the Disney Wish, other park projects, and corporate initatives.

Disney+ international subscribers increased by 4 million, which means they lost 2 million domestic subscribers?

Guest spending at Walt Disney World was up 30% compared to before the pandemic.

Despite the restrictions, Disney Cruise Line is seeing higher bookings and pricing than before the pandemic.

Disney expects physical distancing to remain on the Disney Cruise Line through at least March. 

Disney is seeing strong bookings for the 2022 fiscal year.

Bob Chapek says they expect to connect the physical and digital worlds in the "Disney Metaverse"

They have almost completed the reduction of physical Disney Stores.

The first four months of Galactic Starcruiser voyages are virtually sold out.

1/3 of park guests at Walt Disney World have paid to upgrade to Genie+

Bob Chapek says the response to Genie and Genie+ has been overwhelmingly positive.

Most of the Magic Key sales are for the top two levels which includes the now sold-out Dream Key

40% of Magic Key sales are to folks that were not passholders.

Bob Chapek says that vaccinations of children and the reopening of international borders, are important steps for the parks business.

Chapek also says ESPN could partner with a third-party for sports betting.

Bob Chapek is talking a lot about the value of sports, perhaps in reaction to chatter about spinning off ESPN.

Disney expects Disney+ to be in over 120 countries by fiscal 2023

Disney is going to be increasing their investment in content with most of the additional funds going to local and regional content.

There are over 340 local titles in various stages of development and production for their streaming services.

Disney is doubling the content coming to Disney+ next year, with most coming July through September.

Hawkeye and The Book of Boba Fett are highlighted as key programming coming after Disney+ Day.

They still expect Disney+ to reach profitability by the end of fiscal year 2023.

In the last fiscal year, Disney has grown their subscribers across their portfolio, buy 48%.

Disney priorities are telling enduring stories, using their ecosystem to share the stories, and use technologies to tell the stories in the best way possible.

Bob Chapek starts by saying it has been a very productive year for The Walt Disney Company.

Tammy Munsey is hosting the call in Lowell's place

This is the first call without Lowell Singer who recently departed Disney and used to host these calls.

Here we go

And score from "Ron's Gone Wrong"

Now it is "All I Know" (The Wonder Years Theme)

Listening to the Eternals theme while we wait...

Just about 5 minutes until today's call begins

Very reverent hold music currently playing on the call...

FYI - the 118.1 million Disney+ subscriber number means that the service gained a net of only 2.1 million subs in the quarter

Right now, Disney is down nearly 4% in after-hours trading.

In 2021, Disney spent 1.6 billion on capital projects at domestic parks which compares to 2.1 billion in 2020.

“This has been a very productive year for The Walt Disney Company, as we’ve made great strides in reopening our businesses while taking meaningful and innovative steps in Direct-to-Consumer and at our Parks, particularly with our popular new Disney Genie and Magic Key offerings,” said Bob Chapek, Chief Executive Officer, The Walt Disney Company. “As we celebrate the two-year anniversary of Disney+, we’re extremely pleased with the success of our streaming business, with 179 million total subscriptions across our DTC portfolio at the end of fiscal 2021 and 60% subscriber growth year-over-year for Disney+. We continue to manage our DTC business for the long-term, and are confident that our high-quality entertainment and expansion into additional markets worldwide will enable us to further grow our streaming platforms globally.”

ESPN+ exceeded Wall Street's expectations.

There are 118.1 million Disney+ subscribers compared to 124.5 million expected by Wall Street

Revenue also missed expectations with $18.53 billion compared to an expectation of $18.79 billion.

Disney earnings were 37 cents per share vs 51 cents expected.

We are waiting for Disney's results from the last quarter and the 2021 fiscal year (which ended at the end of September)

At the close, Disney was down .79¢ (0.45%) to $174.32. For reference, the Dow was down 0.66% today. 

They are also wondering where Disney stands in the bidding for the rights to NFL Sunday Ticket

Wall Street will be focused on the Disney+ subscribers. Analysts are expecting 9.4 million adds in the quarter.