Disney has released their first quarter earnings for fiscal 2022, which ended January 1, 2022. The Disney Parks, Experiences, and Products division saw more than a 100% increase in year over year revenue, posting $7.2 billion in revenues for the first quarter of 2022. Here’s the announcement:
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.
Disney continued to makes tons of money despite the pandemic but still felt the need to increase pricing to ALL of its parks claiming higher operating costs. They also cancelled a tradition that was started by Walt Disney himself were middle schoolers would compete in performing community service but cancelled the event with little or no notice breaking the hearts of these kids. In addition denying workers a fair and livable wage. The mouse is just getting fatter and for as long as people are willing to pay they will continue their antics. I will personally never visit a Disney park . Just greed and more greed. This is not what Walt Disney envisioned for his park.
And yet according to park visitors maintenance and cleanliness of the parks is just awful thanks to Chapek’s cost cutting. How about reinvesting all of that wealth back into the parks??? Keep the rides working, get the new rides finished, and get the parks clean and keep them that way. The seem way too worried about their “woke-ism” now instead of maintaining a high quality at the parks.