Increases in Disneyland’s attendance and ticket prices during the summer helped improve Disney’s bottom line as the Anaheim theme park remained a bright spot for the company while Disney World continued to recover from a 50th anniversary celebration hangover.
Disney Parks & Experiences operating income increased more than 30% during the company’s fourth quarter compared to the prior year, according to a financial report released by Disney on Wednesday, Nov. 8.
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Disney’s fourth quarter covered most of the summer from the beginning of July through the end of September.
The Disneyland resort saw strong year-over-year growth in both revenue and operating income.
Disney’s operating income increased in the fourth quarter due to higher attendance, higher average ticket prices and increased guest spending at the Disneyland resort. Sales of the new Disney Vacation Club Villas at the Disneyland Hotel also helped boost income.
“Disneyland continues to look exceptionally strong,” Interim Disney CFO Kevin Lansberry said on a call with investment analysts. “We’re not really seeing anything in terms of an economic hangover.”
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The Walt Disney World resort continues to experience a “lapping effect” with lower numbers following the conclusion of the 50th anniversary celebration that brought big crowds to the Florida theme parks.
Disney announced plans in September to double down on its investments in Disneyland, Disney California Adventure and other theme parks around the world to the tune of $60 billion over the next decade.
Disney CEO Bob Iger said recent investments in new theme park attractions and lands have paid strong dividends.
“Over the last five years, return on invested capital has nearly doubled in our domestic parks,” Iger said on the call.
In recent years, Disneyland and DCA have seen the addition of Star Wars Galaxy’s Edge, Avengers Campus and Mickey & Minnie’s Runaway Railway along with the Pixar Pier makeover.
The Disneyland and DCA attraction pipeline remains full with the Adventureland Treehouse opening this week, Tiana’s Bayou Adventure coming in late 2024, a new Marvel E-ticket ride planned for Avengers Campus and the proposed DisneylandForward project promising new theme park lands.
