{
  "docId": "019dd923-622b-71dc-a6db-a8948f12a2f8",
  "docSlug": "83e53ed5ec0b",
  "documentTitle": "The Walt Disney Company (DIS)",
  "authorId": "06_Trian_Partners",
  "authorName": "Trian Partners",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2024-03-01 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 119,
  "pageCount": 133,
  "prevPage": 118,
  "nextPage": 120,
  "slideType": "competitive_analysis",
  "function": "frame_problem",
  "density": "dense",
  "nDataPoints": 4,
  "notes": "The slide uses a 'villain' framing (Universal) to demand increased capital expenditure from Disney.",
  "elementsJson": [
    "headline_text",
    "subtitle_text",
    "bullet_list",
    "photo",
    "callout_box",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6db-a8948f12a2f8/119",
  "deckHref": "/decks/019dd923-622b-71dc-a6db-a8948f12a2f8",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-a8948f12a2f8.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-a8948f12a2f8#slide-119",
  "components": [
    {
      "bbox": {
        "h": 0.12,
        "w": 0.85,
        "x": 0.08,
        "y": 0.75
      },
      "kind": "callout",
      "text": "Given the new, serious competitive threat Epic Universe presents, Disney needs to fortify its leadership position with new investment. How much of the $60 billion of CapEx is earmarked for new attractions at Disney World? When will that capital be spent?",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0dde85fb-a7c8-4f3e-9cb2-6467ff751900",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.41,
        "w": 0.42,
        "x": 0.51,
        "y": 0.29
      },
      "kind": "image",
      "text": "Epic Universe park rendering and five immersive worlds logos",
      "attrs": null,
      "subkind": "illustration",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a68b4744-35ba-4530-8659-9b70ee32d927",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.42,
        "x": 0.08,
        "y": 0.32
      },
      "kind": "list",
      "text": "50+ New Attractions; 500 rooms; Open Summer 2025; $3-4B Capital Invested; Key IP: Super Nintendo World, Harry Potter, How to Train Your Dragon",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f757d584-bf88-4842-a67e-4a0d93ee6e80",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.85,
        "x": 0.08,
        "y": 0.22
      },
      "kind": "paragraph",
      "text": "Disney World in Orlando contributes approximately one-third of Disney's operating income(1). Universal's expansion in the same market will bring new competition to Disney World and threaten Disney's leadership position.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "33902f90-72c1-4fb0-8073-1702ce63437f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.5,
        "x": 0.08,
        "y": 0.9
      },
      "kind": "source-note",
      "text": "Source: Company releases, FactSet. Note: (1) Estimate of FY 2023 operating income derived from Wall Street Equity Research.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "83996a13-c168-45fd-90ce-99135d1f37fc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.85,
        "x": 0.08,
        "y": 0.13
      },
      "kind": "title",
      "text": "Universal's Expansion in Orlando Requires a More Urgent and Targeted Response From Disney",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8ec7c0b0-2401-49c4-8c38-1e8926b9f519",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "antagonist-introduction",
      "slug": null,
      "matchId": "1219cb7b-6e91-461e-a406-d6b7497ed6bb",
      "evidence": "Frames Universal as a competitive threat to force Disney action.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}