In their earnings release moments ago, Disney has praised a few drivers for their $6.7 billion in revenue for the Disney Parks, Experiences, and Products division mainly referred to as the Disney Parks segment of the company. The $6.7 billion in revenue translated to $1.8 billion of income in the division, which Disney said was thanks to “higher volumes and increased guest spending, partially offset by higher costs.”
So, what was the driver for increased guest spending? Disney is seemingly perfecting the use of the Disney Park Pass reservation system to achieve a “favorable attendance mix”. Translated, that means that they are able to push higher-spending guests into their theme parks to increase per guest spending. What’s driving per guest spending? Disney is pointing to Disney Genie+, an increase in average ticket prices, higher daily hotel rates, and an increase in food, beverage, and merchandise spending.
In short, the theme park business is going very well for Disney and they are perfecting levers to ensure that guest spending continues to increase.
We will have more coverage from an investor call scheduled to begin shortly.
As always, keep checking back with us here at BlogMickey.com as we continue to bring you the latest news, photos, and info from around the Disney Parks!