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NEWS
Double digit growth for Disney as Shanghai boosts results for quarter
POSTED 10 May 2017 . BY Tom Anstey
The opening of Shanghai Disney last year increased numbers for the operator Credit: Xinhua/SIPA USA/PA Images
Disney’s parks and resorts have enjoyed another strong quarter, with the company experiencing double digit growth in operating profits to US$750m (€689.5m, £579.2m).

The boost represented a 20 per cent increase on last year’s Q2 profits (US$624m, £481.9m, €574.1m), and has been attributed to the opening of Shanghai Disney Resort, which opened in Q3 2016.

Overall, Disney’s parks and resorts division recorded revenue for the quarter of US$4.3bn (€3.95bn, £3.3bn) – a 9 per cent increase on the same period for 2016 when it earned US$3.93bn (€3.6bn, £3bn).

In a trend impacting the whole of the attractions sector, the timing of the Easter holiday – which fell outside of the first three months of the year – had an effect on the quarterly the results.

Shanghai aside, operating income growth at Disney’s domestic parks also increased, with the results driven by increased attendance and spend on food and beverages (F&B), as well as increased income from Disney Springs.

However, revenue growth was knocked by higher labour costs, marketing expenses and unspecified efficiency initiatives.

“Our continued strong performance is a direct result of our proven strategic focus on great branded content, innovative technology and global growth,” said Disney chair and CEO, Bob Iger.

“We’re pleased with our results in Q2 and remain confident in our ability to continue to deliver significant shareholder value over the long term.”
RELATED STORIES
  Disney 'Makeup Lamp' concept could revolutionise live performance


Disney’s research arm has unveiled a new technology concept capable of live dynamic augmentation onto human faces.
  Disney increases investment in HK$10.9bn Hong Kong expansion following taxpayer complaints


Disney has addressed disgruntled taxpayers’ unhappiness over “unequal financing” in Hong Kong by injecting a further HK$350m (US$45m, €42.4m, £36.2m) into the company’s six-year, HK$10.9bn (US$1.4bn, €1.3bn, £1.1bn) facelift of its park, with the operator also promising to waive part of its management fees for the next two years.
  Another VR breakthrough as Disney researchers integrate moving physical objects and virtual worlds


It might look like a man simply catching a tennis ball, but a new video from Disney Research shows much more than that.
  Bob Iger extends Disney contract to 2019


After much speculation surrounding his future with the company, Bob Iger will extend his tenure as Disney chief executive until July 2019.
MORE NEWS
The Everyday Heritage initiative celebrates and preserves working class histories
Off the back of the success of the first round of Everyday Heritage Grants in 2022, Historic England is funding 56 creative projects that honour the heritage of working-class England.
Universal announces long-awaited details of its Epic Universe, set to open in 2025
Universal has revealed it will be adding new Harry Potter attractions, alongside Super Nintendo and How to Train Your Dragon worlds to its Florida resort.
Heartbreak for Swedish theme park, Liseberg, as fire breaks out
A fire has destroyed part of the new water world, Oceana, at Liseberg in Sweden, and a construction worker has been reported missing.
Museum director apologises after comparing the city of Florence to a sex worker
Museum director Cecilie Hollberg has come under fire for comparing the city to a sex worker due to uncontrolled mass tourism.
+ More news   
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Salary: £61,000 - £64,000 + exceptional pension + excellent benefits
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08-08 May 2024

Hospitality Design Conference

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10-12 May 2024

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NEWS
Double digit growth for Disney as Shanghai boosts results for quarter
POSTED 10 May 2017 . BY Tom Anstey
The opening of Shanghai Disney last year increased numbers for the operator Credit: Xinhua/SIPA USA/PA Images
Disney’s parks and resorts have enjoyed another strong quarter, with the company experiencing double digit growth in operating profits to US$750m (€689.5m, £579.2m).

The boost represented a 20 per cent increase on last year’s Q2 profits (US$624m, £481.9m, €574.1m), and has been attributed to the opening of Shanghai Disney Resort, which opened in Q3 2016.

Overall, Disney’s parks and resorts division recorded revenue for the quarter of US$4.3bn (€3.95bn, £3.3bn) – a 9 per cent increase on the same period for 2016 when it earned US$3.93bn (€3.6bn, £3bn).

In a trend impacting the whole of the attractions sector, the timing of the Easter holiday – which fell outside of the first three months of the year – had an effect on the quarterly the results.

Shanghai aside, operating income growth at Disney’s domestic parks also increased, with the results driven by increased attendance and spend on food and beverages (F&B), as well as increased income from Disney Springs.

However, revenue growth was knocked by higher labour costs, marketing expenses and unspecified efficiency initiatives.

“Our continued strong performance is a direct result of our proven strategic focus on great branded content, innovative technology and global growth,” said Disney chair and CEO, Bob Iger.

“We’re pleased with our results in Q2 and remain confident in our ability to continue to deliver significant shareholder value over the long term.”
RELATED STORIES
Disney 'Makeup Lamp' concept could revolutionise live performance


Disney’s research arm has unveiled a new technology concept capable of live dynamic augmentation onto human faces.
Disney increases investment in HK$10.9bn Hong Kong expansion following taxpayer complaints


Disney has addressed disgruntled taxpayers’ unhappiness over “unequal financing” in Hong Kong by injecting a further HK$350m (US$45m, €42.4m, £36.2m) into the company’s six-year, HK$10.9bn (US$1.4bn, €1.3bn, £1.1bn) facelift of its park, with the operator also promising to waive part of its management fees for the next two years.
Another VR breakthrough as Disney researchers integrate moving physical objects and virtual worlds


It might look like a man simply catching a tennis ball, but a new video from Disney Research shows much more than that.
Bob Iger extends Disney contract to 2019


After much speculation surrounding his future with the company, Bob Iger will extend his tenure as Disney chief executive until July 2019.
MORE NEWS
The Everyday Heritage initiative celebrates and preserves working class histories
Off the back of the success of the first round of Everyday Heritage Grants in 2022, Historic England is funding 56 creative projects that honour the heritage of working-class England.
Universal announces long-awaited details of its Epic Universe, set to open in 2025
Universal has revealed it will be adding new Harry Potter attractions, alongside Super Nintendo and How to Train Your Dragon worlds to its Florida resort.
Heartbreak for Swedish theme park, Liseberg, as fire breaks out
A fire has destroyed part of the new water world, Oceana, at Liseberg in Sweden, and a construction worker has been reported missing.
Museum director apologises after comparing the city of Florence to a sex worker
Museum director Cecilie Hollberg has come under fire for comparing the city to a sex worker due to uncontrolled mass tourism.
Populous reveals plans for major e-sports arena in Saudi Arabia
Populous have unveiled their plans for a state-of-the-art e-sports arena, designed to stand as a central landmark in Qiddaya City’s gaming and e-sports district, Saudi Arabia.
Raby Castle reveals ambitious plans to become a major visitor destination
Raby Castle, known as one of the finest medieval fortifications in England, is nearing the end of an ambitious two-year renovation project.
+ More news   
 
COMPANY PROFILES
TechnoAlpin

TechnoAlpin is the world leader for snowmaking systems. Our product portfolio includes all different [more...]
Painting With Light

By combining lighting, video, scenic and architectural elements, sound and special effects we tell s [more...]
instantprint

We’re a Yorkshire-based online printer, founded in 2009 by Adam Carnell and James Kinsella. [more...]
Polin Waterparks

Polin was founded in Istanbul in 1976. Polin has since grown into a leading company in the waterpa [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

08-08 May 2024

Hospitality Design Conference

Hotel Melià , Milano , Italy
10-12 May 2024

Asia Pool & Spa Expo

China Import & Export Fair Complex, Guangzhou, China
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2024

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