On Thursday, November 7, The Walt Disney Company announced strong fourth-quarter earnings thanks to its growth at the Disney Parks theme parks.
The Walt Disney Company has reported that Parks, Experience and Products revenue has increased 8% in the fourth quarter to a total of $6.7 billion. The operating income was also up by 17% to a total of $1.4 billion.
Also up in the fourth quarter is the growth at the U.S. Disney theme parks. Both Walt Disney World Resort and Disneyland had an increase in visitor spending, most likely thanks to higher ticket prices as well as an increase in spending on food and theme park merchandise. The increase at Walt Disney World Resort occurred even with the negative effect of Hurricane Dorian during the quarter.
Though The Walt Disney Company had revenue growth, the attendance, on the other hand, had mixed results at the Disney theme parks. Walt Disney World Resort saw very slight increases in attendance, but unfortunately, Disneyland Resort has reported a decrease in attendance, even with the opening of Star Wars: Galaxy’s Edge.
Executives stated during an investors’ conference call that occurred on Thursday, November 8, that they feel Disney guests have delayed their visits to Star Wars: Galaxy’s Edge until the entire land is open. Currently, there is one more attraction left to open in Star Wars: Galaxy’s Edge; Star Wars: Rise of the Resistance, which opens to the public on December 5 at Walt Disney World and January 17, 2020, in Disneyland.
Also during the investors’ conference call, executives shared that the advance hotel booking reservations were up, which means it is very likely Disney Parks will see an increase in attendance in the next quarter.
Star Wars: Rise of the Resistance isn’t the only attraction opening up across Disney Parks in the near future. Disney guests can also look forward to Mickey & Minnie’s Runaway Railway, which is set to open next year at Disney’s Hollywood Studios and in 2022 in Disneyland.
Epcot is currently undergoing a massive, multi-year update, which should be completed by 2021, just in time for Walt Disney World’s 50th Anniversary.
Source: My News 13