this is shanghai disney resort. the newest happiest place on earth opening its gates to the public for the very first time just two months ago. >> here east meets west. the past meets the future. and anything is possible for those who believe. >> reporter: since then, over 1 million guests and counting. it's the sixth resort for parent company. the project taking five years to complete with a $5.5 billion price tag. >> i'm in the center of this resort, the enchanted storybook castles. it will be the tallest and biggest castle in all of disney. the transformation incredible. this is the most grand of all the castles in the disney parks. almost 1,000 acres of land, 12,000 trees planted. stunning. >> reporter: i got a behind the scenes first look at what disney hopes will be its grandest fairy tale yet. once upon a time, after over a decade stalled in negotiations with the chinese government, disney broke ground in april 2011. >> disney only owns 43% of the park. the rest is kind of controlled by shanghai shandy group,

: this is shanghai disney resort. it's the sixth resort for abc's parent company. the project taking five years to complete with a $5.5 billion price tag. the location within three hours by car or train with 330 million people in a country more and more disposable income. >> if they even get a fraction of the people into the park it has a potential to increase the revenue. >> the stakes are high. >> they spent five years building it. many more in negotiations. that alone makes this a huge, huge expense both human and dollar wise for disney. that means there is an incredible amount at stake here. ? >> reporter: and although the stories are classically disney, there's the chinese twist like with snow white's dwarves, off to work they go. this time in mandarin. >> it's about bridging the culture and help our team understand what the chinese guests want and what is their culture. >> reporter: this is the cultural analyst for shanghai disneyland. what's the difference between an what they want to see at disneyland? >> from

: this is shanghai disney resort.fifth resort for the abc's parent hocompany. a $5.5 billion price tag. 330 million people in a more and more disposable income. >> if they even get a fraction of the people into the park it has a potential to increase the revenue. >> the stakes are high. >> they spent five years building it. many more in negotiations. that alone makes this a huge, huge expense both human and dollar wise for disney. that means there is an incredible amount at stake here. ♪ ♪ >> reporter: and though the stories are classically disney, there's the chinese twist like with snow white's dwarves, off to work they go. this time in mandarin. >> it's about bridging the culture and help our team understand what the chinese guests want and what is their cultural. >> reporter: this is the cultural analy disneyland. what's the difference? >> from my understanding, it's because america has a history. we know disney stories. they grew up with us. for us, it's hard for us to for us to make this experience that even whe

scarlet: shanghai disney opened this summer in china.report on tuesday. this is bloomberg. ♪ matt: time for the bloomberg business flash. news corp., the wall street journal and the new york post, controlled by rupert murdoch, reported fiscal profits at missed analyst estimates. lending club says the cfo is stepping down. the company has appointed bradley: to be interim cfo. the company also announced the supporting second-quarter earnings. shares are down in after-hours trading. a federal appeals court has ruled that ecuadorian plaintiffs cannot collect a $9 billion judgment against chevron for rain forced damage. the ruling upholds the lower court findings that the judgment was obtained by corrupt means. the case stems from a long-running dispute from amazon rain forest residents and the oil company. and answer bloomberg business flash. scarlet: there are three main .hings to focus on for disney let's dig into all of them. first is the theme parks. disney openedare, shanghai disney in june. adding to their already impressive arsenal of

this is shanghai disney resort. the newest happiest place on earth opening its gates to the public just two months ago. >> here east meets west. the past meets the future. and anything is possible for those who believe. >> reporter: since then, over 1 million guests and counting. it's the sixth resort for abc's parent company. the project taking five years to complete with a $5.5 billion price tag. >> i'm in the center of this

a million people have visited shanghai disney since it opened in june and expansion plans are already underway. iswe build something that really large, very complex, very unique in the sense that there is a lot of it, a lot of original product in shanghai disneyland. it opened flawlessly. the reaction has been great. interestingly enough, the visitation has come from all over china. it is taking great advantage of shanghai as a tourist destination particularly in the summer. >> the duke of westminster has died at age 64. afterd at lancashire suddenly falling l. ill.lling he and his family had a fortune of 9.4 billion pounds according to the bloomberg billionaires index. and increasing its stake in u.s. government debt. it loaded up on government debt for the third straight on. that as the u.k. vote in june spoke -- sparked a global rally. to an unprecedented low. the yield to bounce rock slightly following a stronger than accept -- expected u.s. employment report. this is bloomberg. you.thank the bank of england is making an announcement at 9 a.m. u.k. time -- since the central bank s

this is shanghai disney resort. the newest happiest place on earth opening its gates to the public just two months ago. >> here east meets west. the past meets the future. and anything is possible for those who believe. >> reporter: since then, over 1 million guests and counting. it's the sixth resort for abc's parent company. the project taking five years to complete with a $5.5 billion price tag. >> i'm in the center of this castles. it will be the tallest and biggest castle in all of disney. the transformation incredible. this is the most grand of all the castles in the disney parks. almost 1,000 acres of land, 12,000 trees planted. stunning. >> get the show on the road! >> reporter: i got a behind the scenes first look at what disney hopes will be its grandest fairy tale yet. once upon a time, after over a decade stalled in negotiations with disney broke ground in april 2011. >> disney only owns 43% of the park. the rest is kind of controlled by shanghai shandy group, locally government-controlled entity. disney

bob iger opened shanghai disney back in june. year. the shanghai park is critical to disney in helping boost its international business. business has not reported a profit on its international -- disney has not reported a profit on its international park business. disney could see a record box office this year. the film operating income jumped 27% last quarter. season, other films could supply big boosts. there is also another star wars movie due to be released later this year. on the small screen, espn and the cable networks are a big profit driver for disney. this quarter, the result are a mixed bag. cable advertising expected to rise, and subscriber loss weighing on espn. translates into 10 million fewer customers than in 2013. because of the high demand for sports programming, espn charges a high fee. disney is vulnerable to people unbundling their cable packages. we will be looking for numbers when disney results cross after the u.s. closing bell on tuesday. rishaad: to get more on that story and all of the day's top bloomber

really huge. [ scoffs ] a trip to the walt disney world resort in florida and a trip to the new shanghai disney resort in china! china! [ scoffs ] ut some help. but who's big enough to help me give away this prize? ? a-ha! ? the only one who could help give away a prize this big is the main mouse himself. mickey! ?

up, walt disney company set to report earnings after the closing bell. why shanghais. this is bloomberg. ♪ service scarlet: today, we are hearing results from disney and solar city. one topic that will be sure to come up, the parks. bob iger open shanghai disneyland in june to much fanfare. the parks is massive for disney because it the second business for disney after media business. share of thee 65% global market just by attendance alone. this chart shows the domestic and international breakdown of disney's park revenue. of the business has not made a profit since 2004 when it really begin breaking that out. it's hurting. also, tokyo is the only one profitable. the it shows the stakes of new shanghai disney and how important that is. scarlet: they spent $300 million in preopening expenses according to bloomberg intelligence so it won't generate any profit this fiscal year. couple companies reporting after the bell. solar city in the process of selling to tesla. i want to take a look in the solar city fortune. i'm looking at the eeg function on the terminal. the wh

eiger was pleased to say that the disney shanghai has over one million visitors.imates, but were guessing on how we would do because it is a brand-new product in a brand-new market, but we are extremely pleased with what we have seen so far, well over a million people have visited the park, and the prospects for this business look strong, so much so that we have already broken ground on expansion. i was looking at the disney lamp in the background, very nice. bankkong, former deutsche trader suing for unfair dismissal. he sang the payments they got him fired were approved by top managers according to internal documents seen by bloomberg. there were two list that contain false information which resulted in payments. he says senior executives, including the current head of global markets for asia and the coo of the unit were involved in approving those lists. responded and said the information provided to bloomberg was actually incorrect, out of context, and provided by somebody who has little knowledge of what is going on. the bank has no more further comment at th

really huge. [ scoffs ] a trip to the walt disney world resort in florida and a trip to the new shanghai disney resort in china! china! [ scoffs ] but i can't give away a prize this big without some help. but who's big enough to help me give away this prize? ? a-ha! ? the only one who could help give away a prize this big is the main mouse himself. mickey! ? hey. oh, s-sorry.

shanghai disney was opened in june, adding to the company's impressive arsenal. t year. shanghai they attract 3.5 million or the end of this year. shanghai park is critical to disney in helping boost its international business. disney reported a profit on the international market investments since it began breaking out the business in 2004. as for the movie business, disney could see record box office this year. you were looking at a fixed income which jumped 27% last quarter thanks to "star wars" and the boost. this reporting season, "finding book" could all help with the boost. "captain america" is the national movie -- is the top of the internationally and there is for thisovie scheduled year. a big profit driver for disney is 45% from the revenue last quarter. this quarter, results may be a mixed bag. it is expected to rise as losses .t espn way on used in has lost almost 2.4 million subscribers since the start of 2016. that translates into nearly 10 million fewer customers then back in 2013. because of the high demand for sports programming, espn charges heig

have visited shanghai disney since it opened the doors in june. >> reporter: this is shanghai disney resort. it's the sixth resort for abc's parent company. the project taking five years to complete with a $5.5 billion price tag. the location within three hours by car or train with 330 million people in a country >> if they even get a fraction of the people into the park it has a potential to increase the revenue. >> the stakes are high. >> they spent five years building it. many more in negotiations. that alone makes this a huge, huge expense both human and dollar wise for disney. that means there is an incredible amount at stake here. ? >> reporter: and although the stories are classically disney, there's the chinese twist like with snow white's dwarves, off to work they go. this time in mandarin. >> it's about bridging the culture and help our team understand what the chinese guests want and what is their culture. >> reporter: this is the cultural analyst for shanghai disneyland. what's the difference between an what they want to see at disneyland? >> from my understanding, it's b

especially espn. .et's dig into all of those first, the theme parks, with openfanfare, rob eiger shanghai disneyding to the impressive arsenal of parks. disney attracted fewer than 140 million visitors last year. attract 3.5 million people through the end of this fiscal year. the shanghai park is critical to help boost its international business. reported a profit on its international park investment since it again breaking out the business in 2004. as for the movie business, disney could see a record box office this year. operating income jumped 27% thanks to a star wars induced boost in the preceding quarter. , there could be big boosts. "finding dory" is the top docs office movie this year while " captain america" is the number one movie internationally. and there is another "star wars was quote to be released later this year. espn and the cable network are a big profit driver, making up 45% of total revenue last quarter. this quarter's results may be a mixed bag. cable advertising growth is expected to rise, while subscriber losses still weigh on affiliate fees. -- 2.4st two point million su

really huge. [ scoffs ] a trip to the walt disney world resort in florida and a trip to the new shanghai disney resort in china! china! [ scoffs ] but i can't give away a prize this big without some help. ? a-ha! ? the only one who could help give away a prize this big is the main mouse himself. mickey! ? hey. oh, s-sorry. i thought you were someone else.

just weeks after thrown open the doors of shanghai disney, it is already breaking ground on an expansionre's more about the significance of the project. >> the reaction to it in china has been great. the visitation has come from all over china. with taking great advantage of shanghai as a tourist destination, to kimberly in the summer. the intent to visit is very high and awareness is extremely high. people are staying about two hours longer per visit than predicted. per capita spending has been really strong. we had estimates but were really just guessing about how it would do because it's a brand-new product in a brand-new market for us but we are extremely pleased with what we've seen so far. well over a million people have visited part since it opened in june and the prospects look really strong. so much so that we had already broken ground on expansion and feel great about it. >> give us some advice because we talk a lot about china and western companies. as you say, you spent 17 years. you've had a lot of success at learning how to work with the most senior leadership all the way a

really huge. [ scoffs ] a trip to the walt disney world resort in florida and a trip to the new shanghai disney resort in china! china! [ scoffs ] but i can't give away a prize this big without some help. ? a-ha! ? the only one who could help give away a prize this big is the main mouse himself. mickey! ? hey. oh, s-sorry. i thought you were someone else.

just weeks after opening the gates of shanghai disney, ceo bob iger said the park's prospects are sot is already breaking ground on an expansion. he told bloomberg's david westin about the significance of the project. >> it is the biggest investment that we made outside the united states in the most populous city in the most populous country in the world. .t was a 17-year journey for me i obviously was quite involved. we don't something that is really large, very complex. there's a lot of original product in shanghai disneyland. it opened flawlessly. the reaction in china has been great. the visitation has come from all over china. it has taken great advantage of shanghai as a tourist destination. intent to visit is very high. people are staying about two hours longer per visit than we expected. that suggests that people are enjoying the product a lot. we had estimates, but we really were just guessing about how it would do. it is a brand-new product in a brand-new market. we are extremely pleased with what we've seen so far. businessects for this look really strong, so much so that

can they keep the >>> plus, shanghai disney. the brand-new theme park has had a million guests since opening day. and hopes are sky high. with an enchanted castle towering above the rest we're behind the scenes on disney's most ambitious fairy tale yet. >>> and selena gomez speaking out over an instagram post by ex-boyfriend justin bieber, sparking a social media feud. maybe she should just --

made hugey has investments, opening their shanghai disney theme park in june and then bind the $1 billionthen buying a $1 billion stake. bob iger spoke with david westin about how he expects the bets to pay off. david: it strikes me that this is the first time you have made a major investment in bamtech distribution. is this not enough to have contact in this world but also distribution? safe tohink would be assume this is our large investment in what you would call distribution. we look at it as an investment in technology. we have said for more than one parte that are strategic is using technology to make the product by there and make the content butter and use it for production and quality reasons. also use technology to distribute it in more modern ways, more ubiquitously and more efficient ways, ways the enjoysr, possibly even more and gravitating toward, and that is what this is. a is safe to assume it is distribution play. preview it more as a technology play and that is vital to the future of the company. quarter goes, you have to consider the studio that grew 60% over the quarter

>>> plus, shanghai disney. the brand-new theme park has had a million guests since opening day.m post by ex-boyfriend justin bieber, sparking a social media feud.