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After a great quarter, the Walt Disney Company is set to “turbocharge” park experiences. But, what exactly does this mean? See what Disney had to say right here.
Current Earnings
Each quarter, The Walt Disney Company shares the earnings of the many different aspects of the company. Disney Experiences posted $8.4 billion in revenue and $2.3 billion in profit for the second quarter of the fiscal 2024 year.
Walt Disney World and the Disney Cruise Line produced higher results for this quarter which offset the lower earning results at Disneyland Resort.
Disney Cruise Line and Disney World both experienced growth due to increased guest spending.
Plans to “Turbocharge”
Bob Iger, CEO of the Walt Disney Company, attributes this strong second-quarter success to the Disney Experiences division. This division includes both theme park and consumer products.
Due to this great success, Iger references plans to “turbocharge” Disney Experiences. The company plans to invest $60 billion over the next decade in expanding its domestic and international parks and Disney Cruise Line.
There are many projects that Disney has announced both at Walt Disney World and at Disneyland. We hope work may be underway soon on these “blue sky” dreams.
Streaming Success
Iger shares, “Our results were driven in large part by our Experiences segment as well as our streaming business.” “Importantly, entertainment streaming was profitable for the quarter, and we remain on track to achieve profitability in our combined streaming businesses in Q4.”
Disney Parks & Experiences revenu totatled $8.4 billion in revenue and $2.3 billion in profit.
This new success was in large part due to the new Hulu acquisition. We are excited to see both success with streaming and at the Disney Parks.
What do you think of this earnings announcement? How do you think this may positivley impact the “turbocharge” plans over the next 10 years? Share your thoughts with us and share this news with your Disney pals.
Mimi
Tuesday 7th of May 2024
Instead of turbocharging, how about not increasing prices, every couple of weeks. You are out pricing the retirees who usually bring the grandchildren, and those of us who just enjoy coming.
Disney Boy
Tuesday 7th of May 2024
@Mimi, actually it happens everywhere else due to inflation.