Disney recently released its earnings report for the second quarter of 2024 and held its quarterly earnings call. It’s already been a big year for the company, especially with Tokyo DisneySea’s MASSIVE expansion, Fantasy Springs, opening soon, the company moving ahead with plans for its OG resort Disneyland, and its plans to expand Magic Kingdom and re-theme part of Disney’s Animal Kingdom.
Cinderella Castle
The second quarter earnings report gave us a good look at the company’s general revenue, streaming, and more. We also learned how Disney Parks are faring financially, so let’s dig into those details of what we’ve learned about Disney’s Parks, Experiences, and Products division.
Overall
Disney Parks, Experiences, and Products revenues for the quarter increased overall by 10% from $7.6 billion in the same quarter last year to $8.3 billion this quarter. The better results this year were due to Disney World, Disney Cruise Line, and the international parks having higher results. However, the increase was offset by Disneyland having lower results.
Cinderella Castle
International Parks
Disney’s international parks are also doing well. Revenue internationally increased by 29% since last year at this same time. This year, the international parks saw a revenue of $1.5 billion this quarter compared to $$1.1 billion in the same quarter last year.
Overall, this increase at the international parks was due to higher ticket prices, an increase in food, beverage, and merchandise being sold, higher attendance and occupied room nights at hotels, and an increase in the number of days the parks were open this quarter. Of course, new offerings like World of Frozen in Hong Kong helped a great deal as well. Which is great to see right before Tokyo Disney opens Fantasy Springs!
Castle of Magical Dreams at Hong Kong Disneyland
Domestic Parks
But what about Disney World? Well, according to the report, Disney World saw an increase in revenue due to an increase in guest spending which Disney attributes to higher ticket prices. There were also higher costs inside the resort due to inflation, but the revenue generated from that was partially offset by lower depreciation and cost-saving initiatives made by the company.
EPCOT
As far as Disneyland goes, the West Coast park took a hit and had lower revenue this year compared to last year at this time. This is attributed to the lower percentage increase overall for the domestic parks of 7% over last year. The domestic parks had $5.9 billion in revenue compared to $5.5 billion last year. Disneyland’s lower revenue is due to higher costs driven by inflation, and while there were higher volumes of attendance, it was offset by lower occupied room nights at the hotels.
Sleeping Beauty Castle
Disney Cruise Line
Disney Cruise Line is also doing well! The cruise line saw an increase in revenue this quarter which Disney attributes to a higher average ticket price. However, this was partially offset by higher costs for the company.
Disney Wish
Consumer Products
The last part of this division is Consumer Products, which saw an increase in revenue this quarter due to higher games licensing revenue. Overall, it has been a great second quarter for Disney’s parks, experiences, and consumer products. We look forward to the coming quarter as Fantasy Springs opens, DisneylandForward gets its final vote, and Disney World begins new expansions and opens new rides!
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Good for them. Priced families right out of multiple parks on same trip, if not even affording a single park with ridiculous food and drink costs as well. Not what Disney used to be in so many ways
🫢 the look of shock on my face. Imagine, raise prices make more money….🤷🏼♂️
Seems it’s not really inflation that is driving up prices when they make more money.
Then again, I’m not a CPA or MBA.