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Double digit growth for Disney as Shanghai boosts results for quarter
POSTED 10 May 2017 . BY Tom Anstey
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.”
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NEWS
Double digit growth for Disney as Shanghai boosts results for quarter
POSTED 10 May 2017 . BY Tom Anstey
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
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Continued impressive results from Universal's theme park division has fueled strong revenue's for Comcast's first quarter, with theme park revenues increasing by 14.5 per cent.
Three more theme parks for China as Six Flags enjoys record start to 2018
Off the back of a record financial start to the year, Six Flags has announced plans to develop three more theme parks in China as the operator continues to ride the international wave of momentum it has created.
Unesco mobilises academics to promote heritage protection in Africa
Unesco's World Heritage Centre will this week be hosting a heritage workshop as part of its mandate to promote culture and education in Africa.
Cream of tourism crop revealed with VisitEngland's latest Awards for Excellence
VisitEngland has named the best Britain's tourism industry has to offer, announcing the winners its annual Awards for Excellence.
+ More news   
LATEST JOBS
Guest Experience Manager
SnowDome
Salary: Circa £30,000
Job location: Tamworth, UK
Games & Wristbands Manager
West Midland Safari and Leisure Park
Salary: £22,000 - £25,000
Job location: Worcs, UK
Senior Bowling Technician
NAMCO UK Ltd
Salary: Competitive Salary & Benefits
Job location: Manchester, UK
Food and Beverage Manager
NAMCO UK Ltd
Salary: Circa £23,000
Job location: Manchester, UK
Performance Assistant Team Leader
Hamburg Dungeon
Salary: Competitive Salary & Benefits
Job location: Hamburg, Germany
Retail, Admissions & Membership Manager
The Wildfowl and Wetlands Trust
Salary: £33,065
Job location: London, UK
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ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
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