Posted Wednesday, May 11, 2016 10:58 AM | Contributed by Jeff
From the article:
Another bright spot was the parks and resorts group, which posted operating income of $624 million, up 10% from a year earlier. Revenue rose 4% to $3.9 billion, reflecting an increase in spending at Disneyland and Walt Disney World.
Read more from The LA Times.
Now if they could get rid of all the rest of the disgusting poor people, Disney World would be the perfect vacay spot.
The Orlando Sentinal ran a similar article today that had a very interesting quote from Bob Iger (below). Pretty much explains Disney's Parks strategy and everything you have seen in the news over the past few years. It's all about steady revenue growth and it doesn't have to necessarily come from turnstile clicks.
Chief Executive Officer Bob Iger told analysts the company was focusing on raising revenue even at the expense of attendance increases.
"We like the steps we've taken in terms of pricing," he said. "We've taken a number of steps … to essentially grow revenue, in some cases actually at the expense of some attendance."
Iger said the company is "changing our pricing approach, sometimes in part to moderate attendance so the park experience is a little bit better, but all designed with the effect of essentially raising revenue."
I'm not really sure what to think of Iger. I read a lot of bad stuff about him on the movie side of the business, and now it's trickling into the theme park side. I'd like to see his resume. Anyone that has more insight can let me know.
And what "bad stuff" is that? On his watch, the revival of Disney animation occurred, and the Marvel movie machine reached epic proportions of quality and profit. Meanwhile the theme park business has one record year after another.
Yeah, but he hates poor people.
I'm not really sure what to think of Iger. I read a lot of bad stuff about him on the movie side of the business, and now it's trickling into the theme park side.
It appears the "bad stuff" is "Was wildly profitable."
That's the guy's job.
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