Disney has released its fourth-quarter and full-year earnings, reporting record revenue and income for its fiscal year in its theme parks division.
Disney’s theme parks and experiences segment had record revenue and operating income for the full year, ended 28 September 2024.
In the fourth quarter, revenue increased by 1 percent and operating income declined by 6 percent, both compared to the prior-year quarter.
Operating income at Disney’s US parks and experiences increased in Q4 compared to the prior-year quarter. This was driven by higher guest spending but partially offset by higher expenses and costs related to new guest offerings at Disney Cruise Line.
Operating income for Disney’s international parks and experiences declined in Q4 due to lower attendance and guest spending, and an increase in costs on new guest offerings.
In a post-earnings call on Thursday (14 November), Disney CEO Bob Iger and CFO Hugh Johnston said: “From our theme parks in the US and around the world, our expanding cruise line, and the opportunities before us from our relationship with Epic Games, this is an increasingly diversified business.”
Disney is to invest $30 billion on its theme parks over the next decade as part of a total $60bn investment in its parks, experiences and products division.
“Highly targeted” investment strategy
In the post-earnings call, Iger said the company has “an investment strategy that is highly targeted in terms of projects, locations, and IP”.
He added: “This all comes at a time when the footprint of our parks and experiences is growing. With six locations that attract guests from across the world, we have multiple exciting expansions currently in the works.
“After we unveil the Disney Treasure next week, Disney Cruise Line’s fleet will grow to a total of six ships with seven additional ships currently in development. Plus, our collaboration with Epic Games will allow us to integrate our popular brands and franchises in a transformational new games and entertainment universe.”
Images courtesy of Disney
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