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Disney’s parks make losses despite revenue gains in Q4 2018
POSTED 06 Feb 2019 . BY Luke Cloherty
Disney’s latest financial results show that its Parks, Experiences and Consumer Products division made increased year-on-year revenues in Q4 2018 but is still unable to turn a profit.

Revenues rose in the quarter to US$6.8bn (€6bn, £5.2bn) from Q4 2017’s figure of US$6.5bn (€5.7bn, £5bn), a 4 per cent rise.

Operating income also rose, reaching US$2.2bn (€1.9bn, £1.7bn) in Q4 2018, a 9 per cent increase on Q4 2017’s US$2bn (€1.8bn, £1.5bn) figure.

The division is still running at a loss, however, and actually significantly worsened in the quarterly profit/loss column, dropping to a US$12m loss from US$7m in Q4 2017, a 48 per cent negative increase.

Parks and Resorts had a balance of US$291m (€255.5m, £224.5m) at the quarter’s end.

While hotel occupancy rose three points from 91 per cent to 94 per cent and park per capita guest spending stayed at 7 per cent year-on-year, labour cost inflation at Disney’s theme parks and resorts contributed towards a cost of services increase of 3 per cent for the quarter.

"The increase in theme parks admissions revenue was due to an increase of 8 per cent from higher average ticket prices, partially offset by decreases of 1 per cent from an unfavourable foreign currency impact and 1 per cent from lower attendance," said the group's quarterly results statement.

"Parks and Experiences merchandise, food and beverage revenue growth was due to an increase of 5 per cent from higher average guest spending.

"Cost of services for the quarter increased 3 per cent, or US$240m (€210.7m, £185.1m), to US$7.6bn (€5.9bn, £5.2bn) due to higher sports programming and production costs and labour cost inflation at our theme parks and resorts."
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Jobs . News . Products . Magazine
NEWS
Disney’s parks make losses despite revenue gains in Q4 2018
POSTED 06 Feb 2019 . BY Luke Cloherty
Disney’s latest financial results show that its Parks, Experiences and Consumer Products division made increased year-on-year revenues in Q4 2018 but is still unable to turn a profit.

Revenues rose in the quarter to US$6.8bn (€6bn, £5.2bn) from Q4 2017’s figure of US$6.5bn (€5.7bn, £5bn), a 4 per cent rise.

Operating income also rose, reaching US$2.2bn (€1.9bn, £1.7bn) in Q4 2018, a 9 per cent increase on Q4 2017’s US$2bn (€1.8bn, £1.5bn) figure.

The division is still running at a loss, however, and actually significantly worsened in the quarterly profit/loss column, dropping to a US$12m loss from US$7m in Q4 2017, a 48 per cent negative increase.

Parks and Resorts had a balance of US$291m (€255.5m, £224.5m) at the quarter’s end.

While hotel occupancy rose three points from 91 per cent to 94 per cent and park per capita guest spending stayed at 7 per cent year-on-year, labour cost inflation at Disney’s theme parks and resorts contributed towards a cost of services increase of 3 per cent for the quarter.

"The increase in theme parks admissions revenue was due to an increase of 8 per cent from higher average ticket prices, partially offset by decreases of 1 per cent from an unfavourable foreign currency impact and 1 per cent from lower attendance," said the group's quarterly results statement.

"Parks and Experiences merchandise, food and beverage revenue growth was due to an increase of 5 per cent from higher average guest spending.

"Cost of services for the quarter increased 3 per cent, or US$240m (€210.7m, £185.1m), to US$7.6bn (€5.9bn, £5.2bn) due to higher sports programming and production costs and labour cost inflation at our theme parks and resorts."
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We’re a Yorkshire-based online printer, founded in 2009 by Adam Carnell and James Kinsella. [more...]
+ More profiles  
FEATURED SUPPLIER

How can travelling exhibitions adapt for the future?
Emily Cronin, partnerships manager at the Science Museum Group in the UK, shares insights into evolving business models for touring exhibitions in Spokes, Ecsite’s magazine. [more...]
VIDEO GALLERY

Red Raion: Meet the Team - Introduction
Red Raion is the CGI studio specialized in media based attraction. Find out more...
More videos:
Trailer Peter Pan - Saving Tinkerbell VR – Red Raion
Red Raion Showreel 2018 – Red Raion
Simworx - The power to move you… – Simworx
+ More videos  

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DIRECTORY
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DIARY

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Indonesia International Amusement & Leisure Expo (IIALE 2019)

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16-19 Sep 2019

IAAPA Expo Europe 2019

Paris Expo Porte de Versailles, Paris, France
+ More diary  
 


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