when is a disney cruise final payment due

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DCL-Disney Cruise Line extending final payment deadline

DCL-Disney Cruise Line is once again extending its final payment deadline and relaxing its cancellation fee schedule, this time for passengers booked in unrestricted cabin categories on voyages through March 31, 2023.

Passengers who have not yet reached the final payment deadline will now be able to wait until up to 60 days before sailing to pay for their voyage.

Onboard activities can be scheduled after the passenger's final payment is received.

The new cancellation fee schedule for voyages through March 31, 2023, includes:

Itineraries 1 to 5 nights (excluding Suites & Concierge Staterooms)

• 60+ days prior to cruise commencement date: No fee
• 59-45 days: Deposit per passenger
• 44-30 days: 50% of vacation price per passenger
• 29-15 days: 75% of vacation price per passenger
• 14 days/less: 100% of vacation price per passenger

Itineraris 6+ nights (excluding Suites & Concierge Staterooms)

• 60+ days: no fee
• 59-56 days: Deposit per passenger
• 55-30 days: 50% of vacation price per passenger

Suites & Concierge cabins

• 60+ days: Deposit per passenger
• 59-56 days: 50% of vacation price per passenger
• 55-30 days: 75% of vacation price per passenger
• 29 days/less: 100% of vacation price per passenger

Reservations for Inside and Outside/Balcony categories with restrictions remain nonrefundable/nontransferable.

When Is the Final Payment Due for a Disney Cruise?

Embarking on a Disney Cruise is an exciting adventure for many families, promising memorable experiences and magical moments. However, before you set sail, understanding the payment schedule, specifically when the final payment is due, is crucial to avoid any unwanted surprises or cancellations.

The final payment for a Disney Cruise is typically due 90 days before sailing for cruises lasting 1 to 5 nights and 120 days before sailing for cruises of 6 nights or longer for non-suite and non-concierge staterooms. If you’ve booked a suite or concierge stateroom, the final payment is due 150 days before sailing. However, for sailings through March 31, 2023, the final payment deadline has been extended to 60 days prior to sailing for guests booked in unrestricted stateroom categories.

Disney Cruise Line Payment Schedule

Disney Cruise Line requires two primary payments: an initial deposit and a final payment. The initial deposit, typically 20% of the cruise fare, is used to secure your reservation. The final payment is due based on the length of your cruise and the stateroom category you have booked.

For non-suite and non-concierge staterooms, the final payment is due 90 days before sailing for cruises lasting 1 to 5 nights, and 120 days before sailing for cruises lasting 6 nights or longer. If you have booked a suite or concierge stateroom, the final payment is due 150 days before sailing. However, for sailings through March 31, 2023, Disney Cruise Line has temporarily extended the final payment deadline to 60 days prior to sailing for guests booked in unrestricted stateroom categories.

These deadlines are critical to note, as missing the final payment deadline may result in automatic cancellation of your booking within two business days.

Flexible Payment Options

Disney Cruise Line understands that flexibility is key for many travelers. While they do not offer a formal payment plan, they do provide a Flexible Payment Calculator on their website. This tool allows you to calculate sample payment plans based on your preferred payment frequency or a custom amount, helping you plan your payments over time at your own pace.

Accepted Payment Methods

Disney Cruise Line accepts a variety of payment methods, including Visa, MasterCard, American Express, Discover Card, Diners Club International, and Japanese Credit Bureau cards. Visa Debit cards are also accepted for deposits, payments, and final payment in full.

Onboard the ship, the cruise line operates on a cashless system. You can use the credit card on file or pay with cash, a Disney Gift Card, or American Express Travelers Cheques denominated in US Dollars (USD).

Cancellation and Refund Policy

In case you cannot make the final payment or need to cancel your trip, it’s essential to understand Disney Cruise Line’s cancellation and refund policy. If you cancel your booking before the final payment, there is no penalty unless you have booked a specific promotion with a non-refundable deposit.

In conclusion, planning and budgeting for a Disney Cruise involves understanding the payment schedule, knowing when your final payment is due, and being aware of the cancellation and refund policy. With this knowledge, you can focus on the fun part – preparing for your magical cruise!

Remember to always review your reservation confirmation for the exact final payment due date for your specific sailing, and don’t hesitate to contact Disney Cruise Line or your travel agent for any questions. Safe travels!

Frequently Asked Questions

What is the initial deposit for a disney cruise.

The initial deposit for a Disney Cruise is typically 20% of the cruise fare. This deposit is used to secure your reservation.

What happens if I miss the final payment deadline for my Disney Cruise?

If you miss the final payment deadline for your Disney Cruise, your booking may be automatically cancelled within two business days.

Does Disney Cruise Line offer a formal payment plan?

Disney Cruise Line does not offer a formal payment plan. However, they provide a Flexible Payment Calculator on their website that allows you to calculate sample payment plans based on your preferred payment frequency or a custom amount.

What are the accepted payment methods for a Disney Cruise?

Disney Cruise Line accepts Visa, MasterCard, American Express, Discover Card, Diners Club International, and Japanese Credit Bureau cards for final payment. They also accept Visa Debit cards for deposits, payments, and final payment in full.

What is the cancellation and refund policy of Disney Cruise Line?

If you cancel your Disney Cruise booking before the final payment, there is no penalty unless you have booked a specific promotion with a non-refundable deposit.

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Disney Cruise Line Extends Final Payment and Flexibility Deadlines

By Sara McOmber Leave a Comment

After a long time of living with strict travel restrictions, many people are ready to get out and vacation again . And it turns out that a lot of those people are looking at cruises for their summer trip! If you’ve got a Disney cruise planned for sometime in the future we’ve got some news that could affect your vacation plans.

Ready to Get Cruising?

The Disney Cruise Line has made many alterations over the last couple of years as health and safety policies changed. Payment policies, cancelation rules , face mask mandates , and more have all been updated several times. Now, we’ve got a new update.

Disney Cruise Line has updated their flexibility, cancelation, and payment policies. Now, for all cruises sailing on or before September 30th, 2022 , guests can change their sail date for their Disney cruise up to 15 days prior to the ship’s departure . Guests can change their cruise to any date before September 30th, 2023 .

©Disney Cruise Line

Disney Cruise Line also made some adjustments to their Extended Final Payment option. Now, for all sailings through March 31st, 2023 , guests can make their final payments up to 60 days prior to sailing . This applies to all guests booked in unrestricted stateroom categories.

The cancelation fee schedule has also been relaxed , so for all sailings through March 31st, 2023 , the cancelation fees will only apply if you cancel within 59 days of departure.

If you’d rather not have to deal with all the schedule changes and dates to remember, you should check out our friends over at Small World Vacations . They’ve got a lot of experience in helping guests plan Disney Cruises, and their services are FREE!

DON'T DO IT ALONE!

Our favorite people over at Small World Vacations are ready to help you save time, headaches, and best of all, money, when you book your Disney trip or cruise.

So book that trip now, then sit back and enjoy planning your Disney World Trip with a DFB-approved expert! Click here for a no obligation price quote today, and let them know DFB sent you 🙂

GET MORE INFO

We’ll keep watching for more updates from the Disney Cruise Line, so keep following DFB for all the latest news.

Click here to learn all about setting sail with the Disney Cruise Line.

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Disney Cruise Line Extends Final Payment

UPDATE 12/16/21: For sailings through September 30, 2022 , DCL is temporarily extending final payment until 60 days prior to sailing for guests booked in unrestricted stateroom categories. This means that those guests who have not yet reached their final payment due date can wait until up to 60 days prior to sailing to pay for their cruise vacation. Onboard cruise activities can be scheduled within guests’ Castaway Club booking window once final payment is received.

In addition, the cruise cancellation fee schedule is temporarily relaxed for sailings through September 30, 2022, as described in the charts below from the 11/9 update.

Reservations for Inside, Outside, or Verandah Categories with Restrictions remain nonrefundable and nontransferable.

The required per guest deposit on the June 9, 2022, Disney Wish Maiden Voyage is non-refundable.

UPDATE 11/9/21: For sailings through May 31, 2022 , Disney Cruise Line has temporarily extended final payment until 60 days prior to sailing for guests booked in unrestricted stateroom categories. This means that those guests who have not yet reached their final payment due date can wait until up to 60 days prior to sailing to pay for their cruise vacation. Onboard cruise activities can be scheduled within the guests’ Castaway Club booking window once final payment is received.

In addition, DCL has relaxed their cruise cancellation fee schedule for sailings through May 31, 2022 as outlined below:

Categories with Restrictions

Reservations for Inside, Outside or Verandah Categories with Restrictions remain nonrefundable and nontransferable.

Cruises 1 to 5 Nights (Excluding Suites and Concierge Staterooms)

Cruises 6 Nights or More (Excluding Suites and Concierge Staterooms)

Suites and Concierge Staterooms

UPDATE 9/3/21: For sailings through March 31, 2022, Disney Cruise Line has temporarily extended the final payment until 60 days prior to sailing for guests booked in unrestricted stateroom categories. This means that those guests who have not yet reached their final payment due date can wait until up to 60 days prior to sailing to pay for their cruise vacation. Onboard cruise activities can be scheduled within each guest’s Castaway Club booking window once final payment is received. 

In addition, the cruise cancellation fee schedule for sailings through March 31, 2022 has been temporarily relaxed.

As COVID-19 continues to wreak havoc, Disney Cruise Line continues to adjust its final payment terms to give those with active booking more peace of mind.

Effective today, August 4, 2021, Disney Cruise Line has added a temporary final payment extension to sailings with departure dates through January 31, 2022.

As part of this policy, Disney Cruise Line is temporarily extending final payment until 60 days before sailing for all guests who have unrestricted stateroom categories booked.

About Post Author

Jackie Gailey

Senior Editor at The DIS and DCL Fan | Disney Vacation Club Member | Thrilled to have been a ’13/’14 Disney Parks Moms Panelist (now planDisney) | Lover of all things Disney; the Magic of Disneyland, Walt Disney World, and Disney Cruise Line | ºoº

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Royal Princess’ large piazza-style atrium. Each cruise line has different rules for payment due dates and cancellation deadlines.

Deadlines for cruise deposits, payments & refunds (cheat sheet)

Due dates for making initial & final payments — and cancellations.

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It can be confusing, especially to first-time cruisers, to know when you have to plunk down an initial deposit, make your final payment, and when you're eligible for a refund. Some of this information isn't all that easy to find!

As a general rule, you put down a deposit at the time of booking, and then make final payment generally 60 to 90 days before the sailing date. If your plans change and you need to postpone or cancel, you can cancel and get a full refund if you cancel at least 90 days out (see below for slight variations — you'll notice Princess's refund policy is fairly strict ... sorry! we still love you, Princess!). Be aware that the cruise lines’ refund policies vary widely and change frequently.

Here's a Cheat Sheet of Cruise Deposit, Full Payment & Refund Deadlines for cruise passengers and travel agents (note: different rules apply to groups).

Summary of cruise line policies:

• Royal Caribbean

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• Celebrity Cruises
• Princess Cruises
• MSC Cruises
• Disney Cruise Line
• Carnival Cruise Line

Deposit amount & final payment deadlines for Carnival cruises

* based on double occupancy; for solo travel, see here ; non-refundable deposit at time of booking: Early Saver, Early Saver Last Call and Super Saver fares. See Carnival's Deposit & Final Payment Requirements .

Refund deadlines for Carnival cruises

* No refunds for Pack & Go, Early Saver and Super Saver fares. ** excluding Alaska, Europe, Transatlantic and Panama Canal cruises *** including Alaska, Europe, Transatlantic and Panama Canal cruises of any length. See Carnival's Cancellation Policy .

Deposit amount & final payment deadlines for Royal Caribbean cruises

* Suite categories do require a double deposit since there are a limited number of suites. **Christmas, New Year's and holiday sailings require a final payment 90 days in advance. See Royal Caribbean's requirements for final payment and cruise planning timeline on the Royal Caribbean blog.

Refund deadlines for Royal Caribbean cruises

*for cruises of 4 days or less, see  here See Royal Caribbean's refund & cancellation policy .

Deposit amount & final payment deadlines for Norwegian cruises

* Final payment is due 120 days before holiday sailings.

Refund deadlines for Norwegian cruises

* Additional cancellation fees apply to air, land vacation and add-ons that are canceled. For more than 2 guests, or for guests staying in The Haven Suites, Suites, Garden Villas and guests on holiday sailings, see Norwegian's  cancellation fee schedule .

Deposit amount & final payment deadlines for Holland America cruises

Refund deadlines for holland america cruises.

* Sailings to Caribbean; Panama Canal; Mexico; Canada & New England; Pacific Coastal; Pacific Northwest; Alaska and Alaska Land+Sea Journeys; Europe (except Prinsendam Europe, 30+ day Transatlantic and segments of 30+ day Transatlantic) and 27-day or less Hawaii sailings.

Other sailings include All Holiday; Australia; New Zealand; South Pacific; Asia; Prinsendam Europe; South America and Antarctica sailings. And Grand World; Grand Voyages; any Segment of a Grand World or Grand Voyage; 29-50 day Hawaii, Tahiti & Marquesas; Incan Empires; Amazon Explorer; 30+ day Europe Transatlantic or any segment of a 30+ day Europe Transatlantic sailing; Africa Explorer and Far East Explorer. For these, see Holland America's Cancellation Policy .

Deposit amount & final payment deadlines for Celebrity Cruises

* Different deposit amounts required for Celebrity Xpedition.

Refund deadlines for Celebrity Cruises

*Or deposit amount, whichever is greater See Celebrity Cruises' cancellation & refund policy .

Deposit amount & final payment deadlines for Princess cruises

* Children ages 1-12 generally have a deposit due that's 50% of the adult price.

Refund deadlines for Princess cruises

* For sailings of 30 nights or more, see the Princess site . Charged items include: Cruise, Cruisetour, Cruise Plus Package, pre-purchased gift(s)/special services. See Princess's refund policy .

Deposit amount & final payment deadlines for MSC Cruises

* $200 per adult or $400 per stateroom minimum **$300 per adult or $600 per stateroom minimum Children 17 and under sailing as the 3rd/4th guest in a stateroom do not require an additional deposit. See MSC Cruises' Terms & Conditions .

Refund deadlines for MSC Cruises

See MSC Cruises' refund policy .

Deposit amount & final payment deadlines for Disney Cruise Line

See Disney Cruise Lines' Booking Terms & Conditions .

Refund deadlines for Disney Cruise Line

* Applies to guests in Non-Suites/Non-Concierge Staterooms on 1 to 5 Night Cruises where embark or debark is a U.S. port (Non Holiday Sailings). For guests in Suites or embarking on holiday or non-US sailings, see Disney's refund policy

** Applies to guests in Non-Suites/Non-Concierge Staterooms on 6 to 9 Night Cruises where embark or debark is a U.S. Port (Non Holiday Sailings). For guests in Suites or embarking on holiday or non-US sailings, see Disney's refund policy

*** Applies to guests in Non-Suites/Non-Concierge Staterooms on Cruises 10 Nights or More and on Cruises Less than 10 Nights where Embark and Debark is non-U.S. Port. For guests in Suites or embarking on cruises with non-U.S. ports, see Disney's refund policy

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Cruise payment plans: All you need to know about paying for a cruise

You're going on a cruise! You've spent time researching and narrowing down your destination, ship and sailing dates, and now it's time to book. But what can you expect in terms of cruise payments? What's the best way to pay for a cruise? Will you have to cough up the full fare upfront, or can you put a cruise on layaway?

Here, I'll answer those questions by discussing cruise payment schedules, different methods of paying for a cruise and the pros and cons of paying in full versus putting down a deposit and paying the rest later.

Note: Payment methods and schedules vary by cruise line and booking outlet. Not all options are offered by all lines or via all booking methods. Check with your cruise line or booking outlet for availability before making a reservation.

For cruise news, reviews and tips, sign up for TPG's cruise newsletter .

How to pay for a cruise

You can pay for your voyage in multiple ways. Most passengers put the charges on a credit card , which is often the quickest and most convenient method. Additionally, you can use gift cards (either cruise line-specific or those from major credit card issuers that aren't tied to a specific retailer), future cruise credits from your cruise line or even cash if you book in person through a travel agent .

Other options include payment by electronic check, PayPal or Apple Pay (depending on how you book) or points and miles on a third-party platform . You can also redeem free cruise certificates from cruise lines that award them for things like casino play , reaching a high loyalty status tier, winning high-stakes bingo or even cruises gone wrong .

You can choose to pay in full at the time of booking, which could earn you additional perks or savings, or make an initial cruise deposit with subsequent payments until anywhere from two to three months before your sailing date.

Specific financing and payment plan options vary by cruise line. For example, Carnival Cruise Line uses EasyPay to allow interest-free autopayments to be charged to you at regular intervals in order to pay off your cruise before you set sail. Princess Cruises' and Holland America's EZpay program offers a similar interest-free setup.

Carnival also offers Uplift as an option. Although some passengers are approved for no down payment and/or 0% interest, interest rates will apply for other cruisers, and under the program, your voyage doesn't have to be completely paid off before your embarkation date. Royal Caribbean allows passengers to finance their cruises using Affirm, with both interest-free and simple-interest options available. Some lines also allow payments through the popular payment app Klarna, which has different payment options, both with and without interest. (Check with your cruise line for details on its specific payment plans.)

Here are the pros and cons of paying over two different time periods.

Paying all at once

If you have the funds to pay for the entire amount of your sailing right away, feel free. It means you won't have to remember to make additional payments. Plus, as an incentive, some cruise lines extend additional perks or discounts to entice travelers to lock in their plans at the time of booking.

For example, wave season deals often include incentives to pay in full. At the time of publication, Emerald Cruises was discounting cruise fares by thousands of dollars for anyone paying in full at the time of booking. Scenic was allowing passengers to choose from additional savings, free airfare or free pre- or post-cruise land tours for paying in full right away. Silversea was slashing fares for pay-upfront voyages by 10%-20%.

The drawback, however, is that you part with a lot of money upfront if you decide to pay immediately. For many cruisers who book a year or more ahead of time, that money could be more lucrative sitting in a bank account that earns interest instead of providing an interest-free loan to a cruise line.

Paying incrementally, with an initial minimum deposit

Alternatively, you can pay a deposit — a portion of the cruise fare for each person on your reservation — to lock in your cabin. Then, in the months leading up to your sailing, you'll make additional payments, according to your cruise line's payment schedule, until you no longer owe anything. If you don't pay off the remaining balance by the final payment date — usually two to three months before embarkation day — the cruise line will cancel your reservation, and you won't be allowed to sail.

Incremental payments are a better choice if you're unsure whether you can or want to sail but want to lock in an attractive fare or snag a cabin on a new ship or unusual itinerary while you decide. If you pay off your cruise early, you can get your money back (except for certain discounted fares and nonrefundable deposits) should you cancel before the final payment deadline. However, it can be a hassle to go through the refund process and wait for the cruise line to return your funds.

Another obvious draw of this method is that it costs less upfront. You can pay over time instead of draining your savings or putting the full amount on a credit card and then incurring fees if you can't pay off your card in full.

Generally, there is no interest or penalty for paying over time if you go the deposit route, so in most cases you won't be charged more if you opt for a payment plan. Plus, you can always pay the balance off early or in larger amounts than are required by your cruise line.

One drawback is that you'll have to remember to make additional payments on time to avoid cancellation of your reservation. Plus, you might not be able to take advantage of a cruise line's cheapest fares if you're not willing to pay in full at the time of booking.

Note that if you book a last-minute cruise after the final payment date (typically, two or three months prior to sailing), you must pay in full; there is no deposit option.

How much is a cruise deposit?

The amount of the deposit required varies by cruise line, but typically you can expect to shell out a couple hundred dollars per person to reserve a cabin with most major cruise lines. It's based on several factors, including the length of the sailing, the overall cost of the voyage, the type of accommodations booked and whether or not the line is running a promotion. Sometimes, as a booking incentive, lines will waive deposits completely or heavily discount them.

At the time of publication, as part of their wave season promotions , Carnival Cruise Line and Costa Cruises were touting deposits as low as $50 per person, while Princess Cruises was offering them for $100 per person. Disney Cruise Line also slashed its required deposits by half — a big deal for a line that rarely offers discounts. Regent Seven Seas Cruises, Seabourn Cruise Line and UnCruise Adventures also were offering deposit reductions.

The next section outlines the specific deposit amounts for the most popular cruise lines.

Cruise payment schedules

Below are the payment schedules and deposit amounts for each of the "big eight" cruise lines.

Note: Deposits are per person and refundable prior to the cruise line's final payment deadline, unless otherwise indicated. For cruises booked after the final payment deadline has passed, payment is required in full at the time of booking.

Carnival cruise payment schedule

For most sailings, Carnival requires a deposit of $100 per person for two- to three-day sailings, $150 for four- and five-day sailings and $250 for six- to nine-day sailings. Longer cruises and voyages to Alaska, Europe and the Panama Canal, as well as ocean crossings, require a deposit of $400 per person.

Deposits for Carnival bookings are generally nonrefundable unless cruisers specifically purchase fully refundable fares.

Final payment is required either 76 or 91 days from the sailing date, depending on the destination, cabin type and length of cruise booked.

See Carnival's website for more information.

Celebrity cruise payment schedule

For Sky Suite cabins and lower, Celebrity charges $100 per person for cruises up to five nights, $250 for six to eight nights and $450 for voyages of nine nights or longer. Those prices double, per person, for Celebrity Suites and above.

For Galapagos sailings, deposits for non-suites at the time of booking are $450 per person; suites are $900 per person.

Deposits for Celebrity bookings are generally nonrefundable at any time unless cruisers specifically purchase fully refundable fares.

For cruises of four nights or fewer, final payment must be made at least 75 days prior to sailing. For voyages of five or more nights, final payment is due at least 90 days in advance.

Galapagos sailings must be settled further in advance, with final payment due anywhere from 120 to 180 days in advance, depending on the ship.

More information can be found on Vacations To Go 's website.

Disney cruise payment schedule

Disney Cruise Line 's fine print states that deposits are determined at the time of booking, so they vary.

For non-suite and non-concierge voyages of five nights or fewer, the line requires final payment 90 days or more prior to embarkation day; for sailings of six nights or longer, payment must be made 120 days or more in advance. For suites and concierge-level accommodations, final payment is due 91 days or more prior to sailing.

You can read more in the line's terms and conditions .

Holland America cruise payment schedule

Holland America 's deposit amounts vary widely, requiring passengers to pay anywhere from $350 to $2,900 per person, depending on the sailing.

For Alaska, Bermuda, Caribbean, Canada/New England, Europe, Mexican Riviera, Panama Canal and long Hawaii voyages, final payment must be made no fewer than 75 days prior to sailing. For all other cruises — including holiday voyages, voyages longer than 30 days and segments of voyages longer than 30 days — full payment must be received at least 90 days before embarkation.

Find more specifics on Vacations To Go's website .

MSC cruise payment schedule

Deposits for MSC Cruises are $99 per adult for voyages of four nights or fewer, $199 for five to 14 nights, $300 for 15 nights or longer and an amount equal to 15% of the overall price for world cruises. Additional deposits are not required for children sailing as the third and fourth passengers in a cabin.

For cruises of four nights or fewer, bookings must be paid in full at least 75 days before the sailing date. Those of five to 14 nights must be paid off 90 days or more ahead of time, and bills for any voyages 15 days or longer must be settled at least 110 days prior to departure. For world cruises, it's 120 days.

You can read more on MSC's website .

Norwegian cruise payment schedule

Deposits for Norwegian Cruise Line bookings vary greatly, ranging from $100 to $5,000 per person, based on cabin or suite type booked and the length of the sailing.

Norwegian's deposits are fully refundable, but all voyages, regardless of length or cabin type, must be paid in full at least 120 days in advance. That's earlier than what other cruise lines require for basic cabin types and standard-length sailings.

To learn more, see the chart on NCL's website .

Princess cruise payment schedule

When you book a Princess cruise, you'll owe a deposit of $100 per person ($200 for suites) for sailings of five days or fewer, $200 ($500 for suites) for voyages of six to nine days or $400 ($800 for suites) for cruises of 10 days or longer. For world cruises, you'll have to pony up 30% of the overall cost of the sailing.

For voyages of five days or fewer, you'll have to pay in full at least 75 days before your vacation. Cruises of six to 24 days require full payment 90 days or more ahead of time, and for world cruises, your bill is due 120 days or more before you set sail.

Check out the breakdown on Princess' website .

Royal Caribbean cruise payment schedule

Deposit amounts vary by sailing and the number of people in each cabin for Royal Caribbean bookings. Generally, passengers can expect to front $200 per stateroom (rather than per person) for sailings of five nights or fewer, $500 per cabin for six- to nine-night voyages and $900 per room for cruises of 10 nights or longer.

Deposits for Royal Caribbean bookings are generally nonrefundable at any time unless cruisers specifically purchase fully refundable fares.

For sailings of four nights or fewer, the final payment is due 75 days or more prior to the embarkation date. For five-night voyages and longer, the cruise line must receive all money no fewer than 120 days from sailing. The deadline for world cruises is at least 180 days prior to departure.

Read more on Royal Caribbean's website in the line's FAQ section .

Bottom line

Travelers have many options when it comes to paying for a cruise. You can pay in full at the time of booking or choose cruise payment plans that allow you to make a deposit for each person in your party and then pay off the balance over time.

Additionally, payment methods may include credit cards, third-party payment systems, gift cards, cruise certificates and cash.

Ultimately, the best way to make cruise payments is whichever one works best for you and your specific circumstances. What matters most is that you pay the cruise line in full by its designated final payment date, so your reservation is confirmed and you can set sail on departure day.

Have more cruise questions? TPG has answers:

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• Cruise and Hotels
• Disney Cruise
• Everything You Need to Know: Disney Cruise Deposit Policy Explained

Introduction:

Planning a Disney cruise can be an exciting and magical experience. However, understanding the deposit policy is essential to ensure a smooth and hassle-free booking process. In this comprehensive guide, we will explore everything you need to know about the Disney Cruise deposit policy, including important points to keep in mind before making your reservation.

To begin, let’s take a look at a quick reference table summarizing the key aspects of the Disney Cruise deposit policy:

Deposit Amount: The deposit for a Disney Cruise is typically 20% of the total cruise fare and is due at the time of booking. This initial payment secures your reservation and allows you to take advantage of early booking benefits and promotions. The remaining balance is then due at a specified time prior to your sailing date.

Payment Schedule: Disney Cruise Line offers flexibility in payment options, allowing guests to make partial payments or pay the full amount at once. The exact payment schedule will depend on the length of the cruise and the date of booking. It is important to review the terms and conditions provided by Disney Cruise Line to ensure compliance with the payment deadlines.

Cancellation Policy: Should you need to cancel your Disney Cruise reservation, it is crucial to understand the cancellation policy to avoid any potential penalties. The cancellation policy varies based on the length of the sailing. For instance, cancellations made 74 days or more before the sail date for a 1 to 5-night cruise incur a $200 cancellation fee per stateroom, while cancellations made within 30 days of sailing are subject to a 100% penalty fee.

When planning your dream Disney Cruise vacation, being familiar with the deposit policy is essential for a stress-free booking experience. By understanding the deposit amount, payment schedule, and cancellation policy, you can make informed decisions and ensure a seamless journey aboard a Disney Cruise ship.

For more detailed information and official guidelines, please refer to the Disney Cruise Line’s official website [insert link: https://disneycruise.disney.go.com/faq/reservations/deposit-payment-schedule/]. Stay tuned for our upcoming articles, where we will delve deeper into specific aspects of Disney Cruise Line policies and make your vacation planning even more magical.

How do Disney Cruise deposits work?

Disney Cruise deposits work by requiring a payment at the time of booking to secure your reservation. The deposit amount varies depending on the length of the cruise and the type of stateroom chosen. For cruises lasting less than 5 nights, the deposit is typically 20% of the total fare, while for longer cruises, it is 25%. The deposit is refundable if you cancel your reservation within the specified time frame, which varies based on the cruise length. However, if you cancel after the final payment due date, the deposit becomes non-refundable. It’s important to note that the deposit does not include any additional expenses such as gratuities, onboard activities, or excursions, which are charged separately. To learn more about Disney Cruise deposit policies and payment options, you can refer to the official Disney Cruise Line website.

What is the required deposit for Disney Cruise?

When booking a Disney Cruise, a required deposit is necessary to secure your reservation. The amount of the deposit varies depending on the length of the cruise and the type of stateroom you choose. For cruises of 1-5 nights, the deposit is typically $200 per stateroom, while for cruises of 6 nights or longer, the deposit is usually $1,000 per stateroom. It is important to note that the deposit is non-refundable but can be transferred to a future cruise if necessary. By understanding the Disney Cruise deposit policy, you can plan and budget accordingly for your dream vacation at sea. For more detailed information, visit [source link].

How do deposits work for cruises?

When it comes to booking a Disney cruise, understanding the deposit policy is crucial. Disney Cruise Line requires a deposit to secure your reservation, and the amount varies depending on the length of the cruise. For cruises lasting three to five nights, a deposit of 20% of the total fare is required, while cruises lasting six nights or longer require a deposit of 25%. The deposit is due at the time of booking and can be made through various payment methods. It’s important to note that the deposit is non-refundable, but it can be applied towards the final payment. To learn more about Disney Cruise Line’s deposit policy and to make an informed decision, make sure to check out the official Disney Cruise Line website.

Do you get your deposit back from a cruise?

The Disney Cruise deposit policy is designed to protect both the cruise line and the passengers. When booking a Disney Cruise, a deposit is required to secure your reservation. The amount of the deposit depends on the length of the cruise and the type of stateroom you choose. If you cancel your cruise before the final payment due date, you may be eligible for a refund of your deposit, minus any applicable cancellation fees. However, if you cancel after the final payment due date, the deposit is typically non-refundable. It’s important to carefully review the terms and conditions of your specific booking to understand the deposit policy. For more information, you can refer to Disney Cruise Line’s official website: https://disneycruise.disney.go.com/faq/deposit-payment/.

Disney cruise deposit refundable

Disney Cruise Line has a deposit policy that allows guests to secure their reservation with a refundable deposit. The amount of the deposit depends on the length of the cruise and the type of stateroom chosen. For cruises that are 1-5 nights, the deposit is typically $200 per stateroom, while cruises that are 6 nights or longer require a deposit of $250 per stateroom. It’s important to note that this deposit is refundable if the reservation is canceled within the specified time frame. For most cruises, this is 90 days prior to the sailing date. However, for holiday cruises and cruises that are 7 nights or longer, the cancellation deadline is 120 days prior to the sailing date. It’s always a good idea to review the specific terms and conditions of your reservation to understand the cancellation policy and any potential fees that may apply. For more detailed information on Disney Cruise Line’s deposit policy, you can visit their official website: https://disneycruise.disney.go.

In summary, understanding the Disney Cruise deposit policy is essential for anyone planning to embark on a magical voyage with Disney Cruise Line. This comprehensive guide has covered all the key aspects of the deposit policy, including the purpose of the deposit, its amount, payment options, cancellation and refund policies, and the importance of travel insurance.

By familiarizing yourself with these important details, you can make informed decisions when booking your Disney Cruise adventure. Remember that the deposit amount varies depending on the length and type of cruise, so it is crucial to review the specific terms and conditions for your chosen itinerary.

When it comes to payment options, Disney Cruise Line offers flexibility to accommodate different preferences. Whether you choose to pay in full at the time of booking or opt for a deposit with the balance due later, it is important to keep track of payment deadlines to avoid any unnecessary complications.

Cancellation and refund policies can be complex, but by understanding the timeframe and associated fees, you can plan accordingly and potentially minimize any financial loss. It is worth noting that cancellation fees are typically higher closer to the sail date, so it is advisable to cancel as early as possible if necessary.

While Disney Cruise Line does not require travel insurance, it is highly recommended to protect your investment and provide peace of mind. Travel insurance can safeguard you against unforeseen circumstances such as medical emergencies, trip cancellations, or delays. It is essential to carefully review the terms and coverage of your chosen insurance policy to ensure it meets your specific needs.

Throughout this guide, we have referenced trusted sources such as the official Disney Cruise Line website, as well as reputable travel and cruise industry websites. These sources provide accurate and up-to-date information on the Disney Cruise deposit policy, ensuring that you have the most reliable guidance available.

Planning a Disney Cruise can be an exciting and memorable experience, and understanding the deposit policy is a crucial step in the process. By being informed about the purpose of the deposit, payment options, cancellation and refund policies, and the importance of travel insurance, you can confidently navigate the booking process and embark on your dream vacation.

Remember, the deposit policy is just one piece of the puzzle when it comes to planning a Disney Cruise. Be sure to explore other important aspects such as itinerary options, onboard activities, dining experiences, and excursions to make the most of your magical journey.

Now that you are equipped with all the necessary knowledge on the Disney Cruise deposit policy, it’s time to set sail and create unforgettable memories with your loved ones. Bon voyage!

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Disney's q2 2024 earnings call live blog: disney+ and disney parks drive the company.

In the past, The Walt Disney Company has had its quarterly earnings call in the afternoon after markets have closed for the day, but this quarter everybody is waking up early to talk about the state of the company before markets open. Whether this is indicative of some sort of news they want to get out early, or just a general business change, remains to be seen.

One thing we can say is that the change in time wasn't to announce great numbers. The Walt Disney Company's quarterly earnings report posted a quarterly loss before the start of the call, though that's mostly due to a $2 billion charge it took on due to changing the way it did business in India.

On the plus side, Disney+ came very close to breaking even this past quarter. Disney expects the platform to become profitable this year, and that is looking more and more likely. Investors will be happy to see that as it means more long term than the one time charge causing a loss.

The call has officially gotten started, a couple minutes late. CEO Bob Iger and CFO Hugh Johnston are here. and Bob Iger starts things. Iger calls it "strong performance" for the quarter.

The "entertainment portion" of Disney+ was profitable this quarter. Still expects total Disney+ profitability by Q4. Encouraged by early results of addition of Hulu to Disney+. An ESPN tile will be added to Disney+ later this year.

Iger runs through the rest of this year's upcoming Disney movie slate. No major announcements or changes. Points out that shows from linear channels are among the most popular on streaming, making both key to Disney.

Iger sings praises of ESPN, including Women's NCAA Final Four, the most watched basketball game ever on ESPN.

Disney Experiences: Iger mentions DisneylandForward expansion vote happening tonight. Repeats that Avatar will come to Disneyland , but with no additional details.

Hugh Johnston talks numbers. Disney+ expecting a bigger loss next quarter, though profitability is still expected in Q4. This is mostly due to cricket rights in Asia.

Strong Disney Experiences numbers, Hong Kong Disneyland and Walt Disney World, along with Disney Cruise Lines, drove growth

We're into the Q&A. Question about the Marvel pipeline, if it being reinvigorated with the upcoming movies and series. Iger says he "feels great" about the film slate. Says he has worked hard to focus on output and reduce quantity. Expects MCU to be no more than 2 series and 2-3 movies per year

Password sharing will be dealt with in "select markets" next month, with a full press in September. Calls Netflix the "gold standard" in streaming business and compliments their business and password sharing work.

Regarding Disney Experiences investment. Johnston says Disney Cruise Line has a lot of potential, which is why a lot of focus is being given there. DCL has the best customer satisfaction scores in the company.

ESPN, as a standalone streaming service, will include all ESPN+ content, but ESPN+ subscribers will be able to simply have that if they want. ESPN+ is the tile being added to Disney+.

Iger says there's "a lot of value in sequels." Calls Thunderbolts an original as far as upcoming Marvel movies . Iger is asked about using the Fox library for future franchises. Iger implies that will happen but doesn't give specifics.

Asking about licensing content to other streamers. Iger says they are doing some, and may do more. Iger has an "open mind" but says not to expect a significant amount.

That wraps up the quarterly earning call. No major announcements, which may mean that early morning calls are just going to be the norm going forward, though it may depend on how the market responds as things get going this morning.

The Disney Cruise Line Blog

An unofficial disney cruise line news, information, weather, and photo blog..

Disney Cruise Line Extends Temporary Final Payment Extension and Cancellation Fee Schedule Through December 31, 2022

Today, Disney Cruise Line announced another extension to their temporary final payment deadline. For sailings through December 31, 2022, Disney Cruise Line is extending final payment until 60 days prior to sailing for guests booked in unrestricted stateroom categories. For sailings through December 31, 2022, the cancellation fee schedule has been temporarily relaxed.

• For Guests booked in non-Suite and non-Concierge categories on sailings through December 31, 2022, the cancellation fee schedule has been temporarily relaxed to 59 days prior to sailing.
• For Guests booked in unrestricted stateroom categories aboard the Disney Wonder that start or end in a non-US port from April 21, 2022 through May 30, 2022, Disney temporarily relaxed the cancellation policy to 29 days prior to sailing.
• For Guests booked in unrestricted stateroom categories aboard the Disney Magic from May 8, 2022 through June 27, 2022, Disney temporarily relaxed the cancellation policy to 29 days prior to sailing.
• Reservations for Inside, Outside and Verandah Categories with Restrictions remain nonrefundable and nontransferable.

The final payment deadline calculations are also updated for sailings through December 31, 2022 on our website under the important date section of the cruise summary.

Details on the temporary cruise cancellation fee schedule can be found below.

For the most up to date information on Disney Cruise Line’s book with confidence offer please visit  DisneyCruise.com .

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2 Replies to “Disney Cruise Line Extends Temporary Final Payment Extension and Cancellation Fee Schedule Through December 31, 2022”

Party of 4 on Concierge level, might need to cancel just 2. Is the deposit lost on those 2 or can be applied to payoff for the 2 still sailing. Not cancelling the whole cabin, just 2 people.

I assume they haven’t extended the FCC deadline or amended (or clarified) the refund policy regarding partial usage for folks who have cruised using FCC but didn’t use all of it and won’t have time/funds to cruise again. My 125% FCC has effectively turned into a ~%90 FCC and they have no interest in giving me the balance back at 100%. Heck, even a CS supervisor doesn’t know (she knew, but wouldn’t say) what happens to that money on 10/1.

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The Walt Disney Company Reports Second Quarter and Six Months Earnings for Fiscal 2024

BURBANK, Calif.–The Walt Disney Company (NYSE: DIS) today reported earnings for its second quarter ended March 30, 2024.

Financial Results for the Quarter:

• Revenues for the quarter increased to $22.1 billion from $21.8 billion in the prior-year quarter.
• Diluted earnings per share (EPS) was a loss of $0.01 for the current quarter compared to income of $0.69 in the prior-year quarter. Diluted EPS decreased to a nominal loss due to goodwill impairments in the quarter, partially offset by higher operating income at Entertainment and Experiences.
• Excluding certain items (1) , diluted EPS for the quarter increased to $1.21 from $0.93 in the prior-year quarter.

Key Points:

• In the second fiscal quarter of 2024, we achieved strong double digit percentage growth in adjusted EPS (1) , and met or exceeded our financial guidance for the quarter.
• As a result of outperformance in the second quarter, our new full year adjusted EPS (1) growth target is now 25%.
• We remain on track to generate approximately $14 billion of cash provided by operations and over $8 billion of free cash flow (1) this fiscal year.
• We repurchased $1 billion worth of shares in the second quarter and look forward to continuing to return capital to shareholders.
• The Entertainment Direct-to-Consumer business was profitable in the second quarter. While we are expecting softer Entertainment DTC results in Q3 to be driven by Disney+ Hotstar, we continue to expect our combined streaming businesses to be profitable in the fourth quarter, and to be a meaningful future growth driver for the company, with further improvements in profitability in fiscal 2025.
• Disney+ Core subscribers increased by more than 6 million in the second quarter, and Disney+ Core ARPU increased sequentially by 44 cents.
• Sports operating income declined slightly versus the prior year, reflecting the timing impact of College Football Playoff games at ESPN, offset by improved results at Star India.
• The Experiences business was also a growth driver in the second quarter, with revenue growth of 10%, segment operating income growth of 12%, and margin expansion of 60 basis points versus the prior year. Although the third quarter’s segment operating income is expected to come in roughly comparable to the prior year, we continue to expect robust operating income growth at Experiences for the full year.

Message From Our CEO:

“Our strong performance in Q2, with adjusted EPS (1) up 30% compared to the prior year, demonstrates we are delivering on our strategic priorities and building for the future,” said Robert A. Iger, Chief Executive Officer, The Walt Disney Company. “Our results were driven in large part by our Experiences segment as well as our streaming business. Importantly, entertainment streaming was profitable for the quarter, and we remain on track to achieve profitability in our combined streaming businesses in Q4.

“Looking at our company as a whole, it’s clear that the turnaround and growth initiatives we set in motion last year have continued to yield positive results. We have a number of highly anticipated theatrical releases arriving over the next few months; our television shows are resonating with audiences and critics alike; ESPN continues to break ratings records as we further its evolution into the preeminent digital sports platform; and we are turbocharging growth in our Experiences business with a number of near- and long-term strategic investments.”

SUMMARIZED FINANCIAL RESULTS

The following table summarizes second quarter results for fiscal 2024 and 2023:

SUMMARIZED SEGMENT FINANCIAL RESULTS

The following table summarizes second quarter segment revenue and operating income for fiscal 2024 and 2023:

DISCUSSION OF SECOND QUARTER SEGMENT RESULTS

Entertainment

Revenue and operating income for the Entertainment segment are as follows:

The increase in Entertainment operating income in the current quarter compared to the prior-year quarter was due to improved results at Direct-to-Consumer, partially offset by declines at Linear Networks and Content Sales/Licensing and Other.

Linear Networks

Linear Networks revenues and operating income are as follows:

The decrease in domestic operating income in the current quarter compared to the prior-year quarter was due to:

• Lower affiliate revenue primarily due to a decrease in subscribers including the impact of the non-renewal of carriage of certain networks by an affiliate, partially offset by higher contractual rates
• A decline in advertising revenue attributable to a decrease in impressions reflecting lower average viewership, partially offset by higher rates

International

Lower international operating income was due to a decrease in affiliate revenue primarily attributable to fewer subscribers and contractual rate decreases.

Equity in the Income of Investees

Income from equity investees decreased due to lower income from A+E Television Networks (A+E) attributable to decreases in advertising and affiliate revenue.

Direct-to-Consumer

Direct-to-Consumer revenues and operating income (loss) are as follows:

The improvement in operating results in the current quarter compared to the prior-year quarter was due to:

• Subscription revenue growth attributable to higher rates due to increases in retail pricing across our streaming services, and subscriber growth at Disney+ Core
• Lower distribution costs
• An increase in advertising revenue due to higher impressions, partially offset by lower rates
• Higher marketing costs
• The increase in Hulu Live TV subscriber-based fees was due to rate increases and more subscribers

Second Quarter of Fiscal 2024 Comparison to First Quarter of Fiscal 2024

In addition to revenue, costs and operating income, management uses the following key metrics to analyze trends and evaluate the overall performance of our Disney+ and Hulu direct-to-consumer (DTC) product offerings (1) , and we believe these metrics are useful to investors in analyzing the business. The following tables and related discussion are on a sequential quarter basis.

Paid subscribers (1) at:

Average Monthly Revenue Per Paid Subscriber (1) for the quarter ended:

Domestic Disney+ average monthly revenue per paid subscriber decreased from $8.15 to $8.00 due to a higher mix of wholesale subscribers, partially offset by increases in retail pricing.

International Disney+ (excluding Disney+ Hotstar) average monthly revenue per paid subscriber increased from $5.91 to $6.66 due to increases in retail pricing and a lower mix of subscribers to promotional offerings.

Disney+ Hotstar average monthly revenue per paid subscriber decreased from $1.28 to $0.70 due to lower advertising revenue.

Hulu SVOD Only average monthly revenue per paid subscriber decreased from $12.29 to $11.84 due to lower advertising revenue, partially offset by increases in retail pricing.

Hulu Live TV + SVOD average monthly revenue per paid subscriber increased from $93.61 to $95.01 due to increases in retail pricing and a lower mix of subscribers to promotional offerings, partially offset by lower advertising revenue.

Content Sales/Licensing and Other

Content Sales/Licensing and Other revenues and operating income (loss) are as follows:

The decrease in operating results was due to:

• Lower theatrical distribution results as there were no significant titles released in the current quarter compared to Ant-Man and the Wasp: Quantumania in the prior-year quarter. The prior-year quarter also included the benefit of the ongoing performance of Avatar: The Way of Water , which was released in December 2022.
• Higher film cost impairments in the current quarter

Sports revenues and operating income (loss) are as follows:

Domestic ESPN

Lower domestic ESPN operating results in the current quarter compared to the prior-year quarter were due to:

• An increase in programming and production costs attributable to higher costs for College Football Playoff (CFP) programming as a result of airing an additional game in the current quarter due to timing. In the current quarter, we aired the championship game, two semi-final games and one host game compared to the airing of the championship game and two host games in the prior-year quarter.
• Lower affiliate revenue driven by fewer subscribers, partially offset by contractual rate increases
• Advertising revenue growth primarily due to increases in rates and, to a lesser extent, average viewership. These increases include benefits from the additional CFP game and an additional NFL playoff game in the current quarter.
• Growth in ESPN+ subscription revenue due to higher rates

The decrease in operating loss at Star India was due to lower programming and production costs attributable to the non-renewal of Board of Control for Cricket in India rights, partially offset by an increase in costs for Indian Premier League matches due to more matches aired in the current quarter compared to the prior-year quarter.

In addition to revenue, costs and operating income, management uses the following key metrics to analyze trends and evaluate the overall performance of our ESPN+ DTC product offering (1) , and we believe these metrics are useful to investors in analyzing the business. The following table and related discussion are on a sequential quarter basis.

The increase in ESPN+ average monthly revenue per paid subscriber was due to increases in retail pricing and higher advertising revenue.

Experiences

Experiences revenues and operating income are as follows:

Domestic Parks and Experiences

The increase in operating income at our domestic parks and experiences was due to higher results at Walt Disney World Resort and Disney Cruise Line, partially offset by lower results at Disneyland Resort.

• Increased guest spending attributable to higher average ticket prices
• Higher costs due to inflation, partially offset by lower depreciation and cost saving initiatives
• Growth at Disney Cruise Line was due to an increase in average ticket prices, partially offset by higher costs
• Higher costs driven by inflation
• An increase in guest spending attributable to higher average ticket prices and daily hotel room rates
• Higher volumes due to attendance growth, partially offset by lower occupied room nights

International Parks and Experiences

Higher international parks and experiences’ operating results were due to:

• Guest spending growth due to increases in average ticket prices and food, beverage and merchandise spending
• Higher volumes resulting from increases in attendance and occupied room nights. Volume growth benefitted from additional days of operations in the current quarter as well as the opening of World of Frozen in November 2023
• Increased costs driven by inflation and new guest offerings

Consumer Products

The increase in consumer products operating results was driven by higher games licensing revenue.

OTHER FINANCIAL INFORMATION

DTC Streaming Businesses

Revenue and operating loss for our combined DTC streaming businesses, which consist of the Direct-to-Consumer line of business at the Entertainment segment and ESPN+ at the Sports segment, are as follows:

Corporate and Unallocated Shared Expenses

Corporate and unallocated shared expenses increased $112 million for the quarter, from $279 million to $391 million, primarily attributable to:

• Higher costs related to our proxy solicitation and annual shareholder meeting
• Increased compensation costs
• Other cost inflation

Restructuring and Impairment Charges

In the current quarter, the Company recorded charges of $2,052 million due to goodwill impairments related to Star India and entertainment linear networks. The impairment at Star India was a result of the Company entering into a binding agreement in the current quarter to contribute our Star India operations into a new joint venture. In the prior-year quarter, the Company recorded charges of $152 million primarily for severance.

Other Income, net

In the prior-year quarter, the Company recorded a $149 million gain to adjust its investment in DraftKings, Inc. to fair value.

Interest Expense, net

Interest expense, net was as follows:

Equity in the income of investees was as follows:

Income from equity investees decreased $32 million, to $141 million from $173 million, due to lower income from A+E.

Income Taxes

The effective income tax rate was as follows:

The increase in the effective income tax rate was due to an unfavorable impact from the goodwill impairments recognized in the current quarter, which are not tax deductible, partially offset by the benefit from adjustments related to prior years, which were favorable in the current quarter and unfavorable in the prior-year quarter.

Noncontrolling Interests

Net income attributable to noncontrolling interests was as follows:

The increase in net income attributable to noncontrolling interests was primarily due to improved results at Hong Kong Disneyland Resort, partially offset by the comparison to the accretion of NBC Universal’s interest in Hulu in the prior-year quarter with no accretion in the current quarter as we had fully accreted to the amount paid in December 2023.

Net income attributable to noncontrolling interests is determined on income after royalties and management fees, financing costs and income taxes, as applicable.

Cash provided by operations and free cash flow were as follows:

Cash provided by operations increased $3.6 billion to $5.9 billion in the current period from $2.3 billion in the prior-year period. The increase was due to lower film and television production spending and the timing of payments for sports rights. The increase also reflected lower collateral payments related to our hedging program, a payment in the prior-year period related to the termination of content licenses in fiscal 2022 and higher operating income at Experiences. These increases were partially offset by payment in the current period of fiscal 2023 federal and California income taxes, which were deferred pursuant to relief provided by the Internal Revenue Service and California State Board of Equalization as a result of 2023 winter storms in California.

Capital Expenditures and Depreciation Expense

Investments in parks, resorts and other property were as follows:

Capital expenditures increased to $2.6 billion from $2.4 billion due to higher spend on new attractions and cruise ship fleet expansion at the Experiences segment.

Depreciation expense was as follows:

DTC PRODUCT DESCRIPTIONS AND KEY DEFINITIONS

Product offerings

In the U.S., Disney+, ESPN+ and Hulu SVOD Only are each offered as a standalone service or together as part of various multi-product offerings. Hulu Live TV + SVOD includes Disney+ and ESPN+. Disney+ is available in more than 150 countries and territories outside the U.S. and Canada. In India and certain other Southeast Asian countries, the service is branded Disney+ Hotstar. In certain Latin American countries, we offer Disney+ as well as Star+, a general entertainment SVOD service, which is available on a standalone basis or together with Disney+ (Combo+). Depending on the market, our services can be purchased on our websites or through third-party platforms/apps or are available via wholesale arrangements.

Paid subscribers

Paid subscribers reflect subscribers for which we recognized subscription revenue. Subscribers cease to be a paid subscriber as of their effective cancellation date or as a result of a failed payment method. Subscribers to multi-product offerings in the U.S. are counted as a paid subscriber for each service included in the multi-product offering and subscribers to Hulu Live TV + SVOD are counted as one paid subscriber for each of the Hulu Live TV + SVOD, Disney+ and ESPN+ services. In Latin America, if a subscriber has either the standalone Disney+ or Star+ service or subscribes to Combo+, the subscriber is counted as one Disney+ paid subscriber. Subscribers include those who receive an entitlement to a service through wholesale arrangements, including those for which the service is available to each subscriber of an existing content distribution tier. When we aggregate the total number of paid subscribers across our DTC streaming services, we refer to them as paid subscriptions.

International Disney+ (excluding Disney+ Hotstar)

International Disney+ (excluding Disney+ Hotstar) includes the Disney+ service outside the U.S. and Canada and the Star+ service in Latin America.

Average Monthly Revenue Per Paid Subscriber

Hulu and ESPN+ average monthly revenue per paid subscriber is calculated based on the average of the monthly average paid subscribers for each month in the period. The monthly average paid subscribers is calculated as the sum of the beginning of the month and end of the month paid subscriber count, divided by two. Disney+ average monthly revenue per paid subscriber is calculated using a daily average of paid subscribers for the period. Revenue includes subscription fees, advertising (excluding revenue earned from selling advertising spots to other Company businesses) and premium and feature add-on revenue but excludes Pay-Per-View revenue. Advertising revenue generated by content on one DTC streaming service that is accessed through another DTC streaming service by subscribers to both streaming services is allocated between both streaming services. The average revenue per paid subscriber is net of discounts on offerings that carry more than one service. Revenue is allocated to each service based on the relative retail or wholesale price of each service on a standalone basis. Hulu Live TV + SVOD revenue is allocated to the SVOD services based on the wholesale price of the Hulu SVOD Only, Disney+ and ESPN+ multi-product offering. In general, wholesale arrangements have a lower average monthly revenue per paid subscriber than subscribers that we acquire directly or through third-party platforms.

NON-GAAP FINANCIAL MEASURES

This earnings release presents diluted EPS excluding certain items (also referred to as adjusted EPS), total segment operating income, free cash flow, and DTC streaming businesses operating income (loss), all of which are important financial measures for the Company, but are not financial measures defined by GAAP.

These measures should be reviewed in conjunction with the most comparable GAAP financial measures and are not presented as alternative measures of diluted EPS, income before income taxes, cash provided by operations, or Entertainment and Sports segment operating income (loss) as determined in accordance with GAAP. Diluted EPS excluding certain items, total segment operating income, free cash flow, and DTC streaming businesses operating income (loss) as we have calculated them may not be comparable to similarly titled measures reported by other companies.

Our definitions and calculations of diluted EPS excluding certain items, total segment operating income, free cash flow, and DTC streaming businesses operating income (loss), as well as quantitative reconciliations of each of these historical measures and the forward-looking measure of free cash flow to the most directly comparable GAAP financial measure are provided below.

The Company is not providing the forward-looking measure for diluted EPS, which is the most directly comparable GAAP measure to diluted EPS excluding certain items, or a quantitative reconciliation of forward-looking diluted EPS excluding certain items to that most directly comparable GAAP measure. The Company is unable to predict or estimate with reasonable certainty the ultimate outcome of certain significant items required for such GAAP measure without unreasonable effort. Information about other adjusting items that is currently not available to the Company could have a potentially unpredictable and significant impact on future GAAP financial results.

Diluted EPS excluding certain items

The Company uses diluted EPS excluding (1) certain items affecting comparability of results from period to period and (2) amortization of TFCF and Hulu intangible assets, including purchase accounting step-up adjustments for released content, to facilitate the evaluation of the performance of the Company’s operations exclusive of these items, and these adjustments reflect how senior management is evaluating segment performance.

The Company believes that providing diluted EPS exclusive of certain items impacting comparability is useful to investors, particularly where the impact of the excluded items is significant in relation to reported earnings and because the measure allows for comparability between periods of the operating performance of the Company’s business and allows investors to evaluate the impact of these items separately.

The Company further believes that providing diluted EPS exclusive of amortization of TFCF and Hulu intangible assets associated with the acquisition in 2019 is useful to investors because the TFCF and Hulu acquisition was considerably larger than the Company’s historic acquisitions with a significantly greater acquisition accounting impact.

The following table reconciles reported diluted EPS to diluted EPS excluding certain items for the second quarter:

The following table reconciles reported diluted EPS from continuing operations to diluted EPS excluding certain items for the six-month period:

Total segment operating income

The Company evaluates the performance of its operating segments based on segment operating income, and management uses total segment operating income as a measure of the performance of operating businesses separate from non-operating factors. The Company believes that information about total segment operating income assists investors by allowing them to evaluate changes in the operating results of the Company’s portfolio of businesses separate from non-operational factors that affect net income, thus providing separate insight into both operations and other factors that affect reported results.

The following table reconciles income before income taxes to total segment operating income:

Free cash flow

The Company uses free cash flow (cash provided by operations less investments in parks, resorts and other property), among other measures, to evaluate the ability of its operations to generate cash that is available for purposes other than capital expenditures. Management believes that information about free cash flow provides investors with an important perspective on the cash available to service debt obligations, make strategic acquisitions and investments and pay dividends or repurchase shares.

The following table presents a summary of the Company’s consolidated cash flows:

The following table reconciles the Company’s consolidated cash provided by operations to free cash flow:

The following table reconciles the Company’s consolidated estimated forward-looking cash provided by operations to estimated forward-looking free cash flow for full year fiscal 2024:

The Company uses combined DTC streaming businesses operating income (loss) because it believes that this measure allows investors to evaluate the performance of its portfolio of streaming businesses and track progress against the Company’s goal of reaching profitability in the fourth quarter of fiscal 2024 at its combined streaming businesses.

The following tables reconcile Entertainment and Sports segment operating income (loss) to the DTC streaming businesses operating loss:

FORWARD-LOOKING STATEMENTS

Certain statements and information in this earnings release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding financial performance, earnings expectations, expected drivers and guidance, including future operating income, adjusted EPS, free cash flow, capital allocation, including share repurchases, plans for direct-to-consumer profitability and timing; value of, and opportunities for growth based on, our intellectual property, content offerings, businesses and assets; business plans; plans, expectations, strategic priorities and initiatives, consumer sentiment, behavior or demand and drivers of growth and profitability and other statements that are not historical in nature. Any information that is not historical in nature included in this earnings release is subject to change. These statements are made on the basis of management’s views and assumptions regarding future events and business performance as of the time the statements are made. Management does not undertake any obligation to update these statements.

Actual results may differ materially from those expressed or implied. Such differences may result from actions taken by the Company, including restructuring or strategic initiatives (including capital investments, asset acquisitions or dispositions, new or expanded business lines or cessation of certain operations), our execution of our business plans (including the content we create and IP we invest in, our pricing decisions, our cost structure and our management and other personnel decisions), our ability to quickly execute on cost rationalization while preserving revenue, the discovery of additional information or other business decisions, as well as from developments beyond the Company’s control, including:

• the occurrence of subsequent events;
• deterioration in domestic and global economic conditions or failure of conditions to improve as anticipated;
• deterioration in or pressures from competitive conditions, including competition to create or acquire content, competition for talent and competition for advertising revenue;
• consumer preferences and acceptance of our content, offerings, pricing model and price increases, and corresponding subscriber additions and churn, and the market for advertising sales on our DTC services and linear networks;
• health concerns and their impact on our businesses and productions;
• international, political or military developments;
• regulatory and legal developments;
• technological developments;
• labor markets and activities, including work stoppages;
• adverse weather conditions or natural disasters; and
• availability of content.

Such developments may further affect entertainment, travel and leisure businesses generally and may, among other things, affect (or further affect, as applicable):

• our operations, business plans or profitability, including direct-to-consumer profitability;
• demand for our products and services;
• the performance of the Company’s content;
• our ability to create or obtain desirable content at or under the value we assign the content;
• the advertising market for programming;
• income tax expense; and
• performance of some or all Company businesses either directly or through their impact on those who distribute our products.

Additional factors are set forth in the Company’s Annual Report on Form 10-K for the year ended September 30, 2023, including under the captions “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and “Business,” quarterly reports on Form 10-Q, including under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and subsequent filings with the Securities and Exchange Commission.

The terms “Company,” “we,” and “our” are used in this report to refer collectively to the parent company and the subsidiaries through which our various businesses are actually conducted.

CONFERENCE CALL INFORMATION

In conjunction with this release, The Walt Disney Company will host a conference call today, May 7, 2024, at 8:30 AM EDT/5:30 AM PDT via a live Webcast. To access the Webcast go to www.disney.com/investors . The corresponding earnings presentation and webcast replay will also be available on the site.

  Contacts: David Jefferson Corporate Communications 818-560-4832

Alexia Quadrani Investor Relations 818-560-6601

  PDF: Q2 FY24 Quarterly Earnings Report