Disney beats estimates, US theme park revenue for quarter was $4.8 billion
Posted
Disney released its fiscal 2022 first quarter results, beating analyst expectations in earnings per share, revenue and Disney+ subscriptions. US theme park revenue went from $1.4 billion in the same quarter last year, to $4.8 billion. International theme park revenue went from $378 million to $861 billion. The entire parks, experiences and products segment had income of $2.45 billion, up from a loss of $119 million last year. From the press release:
Disney Parks, Experiences and Products revenues for the quarter increased to $7.2 billion compared to $3.6 billion in the prior-year quarter. Segment operating results increased by $2.6 billion to income of $2.5 billion compared to a loss of $0.1 billion in the prior-year quarter. Operating income for the quarter reflected increases at our parks and experiences businesses, partially offset by a decrease at our consumer products business.
Operating income growth at our domestic parks and experiences was due to higher volumes and, to a lesser extent, increased guest spending, partially offset by higher costs. Higher volumes were due to increases in attendance, occupied room nights and cruise ship sailings. Cruise ships operated at reduced capacities in the current quarter while sailings were suspended in the prior-year quarter. Guest spending growth was due to an increase in average per capita ticket revenue, higher average daily hotel room rates and an increase in food, beverage and merchandise spending. The increase in average per capita ticket revenue was due to attendance mix and the introduction of Genie+ and Lightning Lane. Higher costs were due to an increase in operating costs, due to volume growth, and higher marketing spending. Our domestic parks and resorts were open for the entire current quarter, whereas Disneyland Resort was closed for all of the prior-year quarter, and Walt Disney World Resort operated at reduced capacity due to mandatory COVID-19 restrictions.
The increased operating income at our international parks and resorts was due to growth at Disneyland Paris and Hong Kong Disneyland Resort. Results at Disneyland Paris were due to increases in attendance and occupied room nights, partially offset by higher operating costs. Growth at Hong Kong Disneyland Resort was driven by higher attendance. Disneyland Paris was open for the entire current quarter while only open for 26 days in the prior-year quarter. Hong Kong Disneyland Resort was open for 68 days in the current quarter compared to 42 days in the prior-year quarter. Shanghai Disney Resort and Tokyo Disney Resort were open for the entire quarter in both the current and prior years. Certain of our international operations continue to be impacted by COVID-19-related capacity and travel restrictions.
Lower results at our consumer products business were due to the closure of a substantial number of Disney-branded retail stores in North America and Europe in the second half of fiscal year 2021.
Read analysis from CNBC.
The plant based hummus thing at Docking Bay 7 was delicious. It was so good I shared a photo.
bigboy said:
I was completely in awe of Galaxy's Edge, but I'm really looking forward to going back to explore it a lot more than I did. On our trip in May, we dashed in for RotR booking, went through Smuggler's Run in about 20 minutes, and had to haul ass to a dining reservation.
This is a good summation of what I feel shouldn't be a thing at Disney, if the parks weren't so grossly overpacked, I wouldn't have to have a reservation for everything, that I had to reserve potentially 60-90 days in advance.
You all seen Eurotrip? Going to Disney is like being on vacation with Jamie, and going to basically any other park is like going with Scott and Cooper.
The park wasn’t grossly overpacked and I made the reservation while I was in the park walking from one ride to another. But, hey, thanks for playing along at home.
People who go on vacation to popular theme parks and expect to have the place to themselves are freaks and they cannot be trusted. It’s a vacation. It’s supposed to be expensive and crowded, and I may have to wait in some lines or make a few plans ahead of time. My worst day on vacation is usually a thousand times more memorable and enjoyable than my best day at work.
The thing is, there will always be a group of people who have never been to the parks so they don't have anything to compare to. So I think it will be a long, long time before word gets out to the masses that the experience isn't worth it. Every week there will be another group of 200,000 people who have never been to a Disney park walk through the front gates for the first time and fall in love with their Disney experience. It will be another 20+ years before they realize the memory of their first trip just isn't the same and have the same conversation some of you are having now. The cycle will continue.
BrettV said:
The WDW parks are (or at least feel) more crowded than ever, even with the price increases.
I certainly notice it and it was even a topic in the office today. A coworker and I walked through Frontierland today and immediately noticed it was very crowded for a Wednesday in February. We quickly left the area and returned to my office to use Google Street View to see what I needed to see...lol. Thank god for Google, it keeps me away from the people.
-Chris
Except I know plenty of people who hated their visit. Mainly because they went unprepared and didn’t know what they were doing. You shouldn’t need to put in 6-12 hours of research (outside of booking your trip) to know enough strategy to do the trip well. Genie+ is making this worse because now that planning needs to happen at 7am every morning of your trip (unless you are a pro and don’t need it.)
2022 Trips: WDW, Sea World San Diego & Orlando, CP, KI, BGW, Bay Beach, Canobie Lake, Universal Orlando
Anecdotal, sure, but my former girlfriend (Cath, from a few podcasts), is here now with her young kids. She says it's the best time ever. Her first time was with me, no kids, 16 years ago. As often is the case, I'm sure some of it is expectations, but her kids clearly are unaware of any depleted magic.
Jeff - Editor - CoasterBuzz.com - My Blog
Touchdown said:
22 years means you haven’t seen Potter, or the redo of Jurassic along with the upgrades to Citywalk. 34 years means you haven’t seen Future World rot, the festivalization of Epcot, DHS become a park only of E tickets and 30 year old shows, and the cheapening of most dining experiences.
Irrelevant details. Potter is great I'm sure, but the IP isn't on the level of anything Disney. Neither is Jurassic (and the memories I have pre-redo are fond). I don't even remember Citywalk really. Magic Kingdom is the only Disney park I've been to, so Future World "rotting" I guess is the only thing that might be cause for concern (if that would even be something I'd be concerned about). But again, my anecdotal experiences have zero% to do with my opinion that Disney isn't going into the s***ter. As a casual observer, I can weed out the asinine opinions of the wacko keyboard warrior Disneyphiles and trust the opinions of many of the Disney nerds I know personally who visit every year and still have a fantastic time, every time.
Vater said:
Irrelevant details. Potter is great I'm sure, but the IP isn't on the level of anything Disney.
I know nothing about the Potter franchise, but everything Universal has done with the two Potter areas here in Florida is 100% on par (and then some) with the quality of anything Disney.
Vater said:
Potter is great I'm sure, but the IP isn't on the level of anything Disney.
How is it not? The cultural impact the Harry Potter franchise has had is huge and it made J.K. Rowling into a billionaire.
It's huge, for sure.
But Mickey Mouse. Star Wars. Marvel.
Ok, I just got curious. So it beat Marvel by a smidgen. But not really if you combine MCU with Spider-Man.
Dunno, I just clicked on the first link I searched. Took me like six times longer to save the image and upload it to my Google photos than to find it.
We also didn't get Pandora, Galaxy's Edge, or Cars Land — all of which I think are great — until after The Wizarding World opened in 2010. Its impact was enormous not only for Universal but also for Disney.
I guess you could say Harry Potter is the one who took Disney's magic? /sarcasm
Touchdown said:
Except I know plenty of people who hated their visit.
Of course. I am not saying there won't be people who hated their experience so much to never return but I imagine that number will be a lot smaller than those who loved their trip. I will add to what Jeff said in the case where I have friends who have never been to a Disney park before come down completely unprepared and they will hardly have what I would call a successful Disney trip but they will still say it was the best trip ever because their kids had fun and got to see Mickey.
-Chris
Vater said:
It's huge, for sure.
But Mickey Mouse. Star Wars. Marvel.
Ok, I just got curious. So it beat Marvel by a smidgen. But not really if you combine MCU with Spider-Man.
We always manage to devolve into a who is better, and that isn’t the point, they are both great, however, that potter had surpassed marvel, and is nearly half of Mickey and Star Wars is impressive considering the others have been around for far longer.
Also, potter is certainly on par with many Disney lands. Star Wars for sure, and Mickey doesn’t exactly lend himself to a land, or really even a ride as evidenced by the parks just now creating a Mickey themed ride out of his shorts.
Vater said:
It's huge, for sure.
But Mickey Mouse. Star Wars. Marvel.
Ok, I just got curious.
The infographic reads like a list of pop culture that I know next to nothing about and don't want to. (with the sole exception of Mario)
So, yeah...
Sucks.
You must be logged in to post
