Disney Parks has just released its fourth quarter and full-year earnings, posting a record $32.5 billion in revenue for fiscal 2023, which ended September 30, 2023. For the fourth quarter, Disney Parks reported $8.3 billion in revenues. Here’s a look at the past full-year revenues:

• FY 2023: $32.5 billion
• FY 2022: $28.7 billion
• FY 2021: $16.5 billion
• FY 2020: $16.5 billion
• FY 2019: $26.2 billion
• FY 2018: $24.7 billion
• FY 2017: $18.4 billion
• FY 2016: $16.9 billion
• FY 2015: $16.1 billion

Disney provided the following highlights for the newly renamed “Experiences” segment of the company, which used to be referred to as “Disney Parks, Experiences, and Products”.

Domestic Parks and Experiences
The increase in operating income at our domestic parks and experiences was due to:

• Growth at Disney Cruise Line resulting from increases in passenger cruise days and average ticket
  prices
• An increase at Disney Vacation Club attributable to sales of The Villas at Disneyland Hotel in
  the current quarter
• Lower results at our domestic parks and resorts, which reflected: A decrease at Walt Disney World
  Resort resulting from:
  ▪ Higher costs attributable to accelerated depreciation related to the closure of Star Wars:
  Galactic Starcruiser and inflation
  ▪ To a lesser extent, lower guest spending driven by a decrease in average daily hotel room rates
  Growth at Disneyland Resort due to:
  ▪ Higher attendance
  ▪ Increased guest spending primarily due to higher average ticket prices
  ▪ Higher costs due to inflation

International Parks and Experiences
Higher international parks and experiences’ operating results were due to:

• An increase in operating results at Shanghai Disney Resort due to:
  – Guest spending growth attributable to an increase in average ticket prices
  – Higher volumes due to an increase in attendance
• Higher operating income at Hong Kong Disneyland Resort attributable to:
  – Guest spending growth due to an increase in average ticket prices
  – Higher volumes resulting from increases in attendance and occupied room nights. Results
  reflected 81 days of operations in the current quarter compared to 65 days in the prior-year
  quarter.
  – Increased costs primarily attributable to new guest offerings and inflation