Disney CEO reports higher Q2 earnings in shareholder meeting
The Santas by asking one simple question, do you want our business or not? Bob Iger addressed Tallahassee directly today while announcing the company's earnings for the second quarter. Thanks for joining us tonight. I'm Matt Austin. And I'm Lisa Bell. Iger's remarks come about a week after lawmakers gave the green light to two bills that will impact Disney. One nullifies a last-minute agreement that transferred power over Disney's special taxing district from the former board to Disney itself. The move rendered Governor DeSantis' new hand-picked replacement board essentially powerless.
The other bill brings Disney's monorail under the oversight of the Florida Department of Transportation and subjects it to periodic state inspections. Tonight News6's Troy Campbell is live in Lake Buena Vista with Iger's latest response. Troy? Firm with his words, Disney CEO Bob Iger says that Disney single-handedly created the Florida tourism industry and says that the state of Florida and Disney can work together, then Disney's ready to invest another $17 billion over the next decade. I'm going to finish with obviously kind of a long answer by asking one question, does the state want us to invest more, employ more people and pay more taxes or not? During Disney's quarter two earnings call on Wednesday, the company's CEO Bob Iger told investors Walt Disney World in Florida continues to be a major revenue source, adding the Walt Disney company in its entirety hit nearly $22 billion in revenue. Iger says in 2022, Disney paid more than $1 billion in state and federal taxes for its Florida properties. Disney filed a lawsuit against the governor in the state. Iger says there are more than 2,000 special districts in Florida, but claims Disney is being singled out.
We all know there was no concerted effort to do anything to dismantle what was once called Reedy Creek Special District until we spoke out on the legislation. So this is plainly a matter of retaliation while the rest of the Florida special districts continue operating basically as they were. Iger referencing a letter the company sent to employees following the passing of what opponents refer to as the don't say gay law. Governor DeSantis responded by announcing the takeover of the Reedy Creek Improvement District. I've been very disappointing to watch this particular company, what they've done by advocating things like the sexualization of children, very close relationship with the Chinese Communist Party. You know, that's all very problematic. In 2019, Oxford Economics estimated the Walt Disney World Resort in Florida brought in a total economic impact of $75 billion a year and nearly half a million jobs in central Florida.
Oxford says just the tax for all the admission tickets at Walt Disney World totaled $1.5 billion more than $400 million in 2018. And as for Disney's financial health, Iger says they're in a pretty good position saying that their earnings are up 15% from this time last year. Outside Walt Disney World tonight, Troy Campbell is getting results of News 6.
Bob Iger, Business, Disney, Florida