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Disney reports record quarterly revenue despite lower attendance

Disney reports record quarterly revenue despite lower attendance image

In today’s investors’ conference call, Christine McCarthy, Chief Financial Office for the Walt Disney Company, reported that Parks and Resorts division revenue was up for the third fiscal quarter, yet attendance at domestic theme parks was down.



Domestic theme park attendance dropped 4 percent, partially due to the Easter holiday falling in the previous quarter, but also due to construction at theme parks on both coasts.

While attendance was down, guests were spending more on tickets and more guests were staying at Disney hotels, which showed a 3 percent increase and a 90 percent occupancy rate.



Parks and Resorts saw a 6 percent increase to $4.4 billion in the quarter that ended July 2, 2016.

Disney Chief Executive Officer Bob Iger also had good things to say about the new Shanghai Disneyland, which has already welcomed its 1 millionth visitor.

Revenue was up in other areas as well, including a 1 percent increase at ESPN, which has struggled at times.



Overall, Disney’s revenue rose 9 percent to $14.2 billion, with total profits up 5 percent to $2.6 billion for the quarter.

 



Source: Orange County Register

 



Tom is the host and producer of the DIS Unplugged: Disneyland Edition podcast, plus Disneyland Editor of The DIS. He enjoys traveling with his wife and teenage son. At this point, their favorite destination is Alaska, with a FIFTH cruise there planned for the Summer of 2019. In his spare time he volunteers with Boy Scouts and Cub Scouts, and help found his son's former Cub Scout Pack. His favorite Disneyland attraction is Space Mountain.






















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