Disney President Predicts Strong Growth for Fiscal ’04

Walt Disney Co. President Bob Iger on Tuesday predicted the Burbank entertainment giant would achieve “strong earnings growth” in fiscal 2004 driven by gains at its cable channels and better results at its ABC television network.

Iger, speaking Tuesday at an investor conference hosted by Goldman Sachs in New York, said strong DVD sales in the film studio and a gradual recovery at Disney’s theme parks also would boost results in the fiscal year, which begins today.

“The marketplace is coming back gradually but consistently,” Iger said.

To help offset an industrywide downturn, the world’s largest theme park operator is considering more park promotions, such as the popular seven-nights-for-the-price-of-four deal at Walt Disney World in Orlando, Fla., Iger said.

Disney’s parks also will benefit from reduced operating costs and new attractions, such as Mission: Space at Disney World’s Epcot theme park, he said.

Meanwhile, a strong advertising market is helping Disney’s radio stations and its struggling ABC broadcast network.

While acknowledging that ABC has “room for ratings improvement,” Iger said the network was off to a strong start in the first week of the fall television season.

Iger wouldn’t discuss key talks between Disney and digital animation partner Pixar Animation Studios, but he touted Disney’s own computer-generated lineup, including the 2005 film “Chicken Little.”

Disney distributes Pixar films and splits the profits with the creator of such mega-hits as “Finding Nemo” and the “Toy Story” movies. Pixar is seeking a more lucrative deal beyond 2005, when the current contract ends.

Disney shares fell 11 cents to $20.17 on the New York Stock Exchange. The share price has gained 24% this year.