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Disney holds firm through restructuring and Galaxy's Edge park costs
POSTED 25 Nov 2019 . BY Andy Knaggs
Walt Disney Company's 2019 results reflect considerable change at the organisation Credit: Shutterstock
We've spent the last few years completely transforming The Walt Disney Company
– Bob Iger
Expenses associated with the establishment of Star Wars: Galaxy's Edge attractions at Walt Disney parks have been more than offset by higher average ticket prices and food, beverage and merchandise spending, according to Walt Disney Company's Q4 and full year financial results.

Disney's Parks, Experiences and Products segment showed improved revenue and operating income figures compared to 2018 equivalents, with revenue increasing by 8 per cent in the quarter to the end of September 2019, and by 6 per cent for the full 12 months. Those revenue figures were US$6.7bn (€6.1bn, £5.2bn) and US$26.2bn (€23.8bn, £20.5bn) respectively.

Operating income grew by 17 per cent in Q4, to reach US$1.4bn (€1.27bn, £1.1bn), and by 11 per cent over the whole year, to US$6.8bn (€6.16bn, £5.3bn).

Disney said there was higher guest spending at Disneyland Resort, despite lower attendance, while Walt Disney World achieved a comparable prior-year quarter, in spite of the adverse impact of Hurricane Dorian. There was increased guest spending, occupied room nights and attendance at the park.

Internationally, Disneyland Paris and the Shanghai Disney Resort achieved growth in operating income, while Hong Kong Disneyland Resort suffered decreases in attendance and occupied room nights, reflecting, the company said, "the impact of recent events", with the territory subject to substantial political protests throughout most of 2019.

Overall, Disney reported a 17 per cent increase in revenues across its 2019 year, accruing US$69.5bn (€63bn, £54.3bn). Meanwhile, total segment operating income, which the company said is its basis for evaluating performance, saw a negative growth of 5 per cent over the year, down to US$14.9bn (€13.5bn, £11.6bn). Included in the figures are considerable restructuring charges and amortisation of assets associated with Disney's purchase of Twenty-First Century Fox and subscription video on-demand service Hulu.

Describing the quarterly results as solid, Disney CEO Bob Iger commented: "We've spent the last few years completely transforming The Walt Disney Company to focus the resources and immense creativity across the entire company on delivering the extraordinary direct-to-consumer experience, and we're excited for the launch of Disney+ on November 12."
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Jobs   News   Products   Magazine
NEWS
Disney holds firm through restructuring and Galaxy's Edge park costs
POSTED 25 Nov 2019 . BY Andy Knaggs
Walt Disney Company's 2019 results reflect considerable change at the organisation Credit: Shutterstock
We've spent the last few years completely transforming The Walt Disney Company
– Bob Iger
Expenses associated with the establishment of Star Wars: Galaxy's Edge attractions at Walt Disney parks have been more than offset by higher average ticket prices and food, beverage and merchandise spending, according to Walt Disney Company's Q4 and full year financial results.

Disney's Parks, Experiences and Products segment showed improved revenue and operating income figures compared to 2018 equivalents, with revenue increasing by 8 per cent in the quarter to the end of September 2019, and by 6 per cent for the full 12 months. Those revenue figures were US$6.7bn (€6.1bn, £5.2bn) and US$26.2bn (€23.8bn, £20.5bn) respectively.

Operating income grew by 17 per cent in Q4, to reach US$1.4bn (€1.27bn, £1.1bn), and by 11 per cent over the whole year, to US$6.8bn (€6.16bn, £5.3bn).

Disney said there was higher guest spending at Disneyland Resort, despite lower attendance, while Walt Disney World achieved a comparable prior-year quarter, in spite of the adverse impact of Hurricane Dorian. There was increased guest spending, occupied room nights and attendance at the park.

Internationally, Disneyland Paris and the Shanghai Disney Resort achieved growth in operating income, while Hong Kong Disneyland Resort suffered decreases in attendance and occupied room nights, reflecting, the company said, "the impact of recent events", with the territory subject to substantial political protests throughout most of 2019.

Overall, Disney reported a 17 per cent increase in revenues across its 2019 year, accruing US$69.5bn (€63bn, £54.3bn). Meanwhile, total segment operating income, which the company said is its basis for evaluating performance, saw a negative growth of 5 per cent over the year, down to US$14.9bn (€13.5bn, £11.6bn). Included in the figures are considerable restructuring charges and amortisation of assets associated with Disney's purchase of Twenty-First Century Fox and subscription video on-demand service Hulu.

Describing the quarterly results as solid, Disney CEO Bob Iger commented: "We've spent the last few years completely transforming The Walt Disney Company to focus the resources and immense creativity across the entire company on delivering the extraordinary direct-to-consumer experience, and we're excited for the launch of Disney+ on November 12."
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Catherine Toolan to replace departing Paul Carty at Guinness Storehouse
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Texas Kalahari Water Park scheduled for November 2020 opening
A new US$550m (€509m, £426m) African-themed water park and resort from Kalahari Resorts & Conventions is due to open in Round Rock, Texas, in November 2020.
Northern Ireland's The Gobbins in line for £11m development
Plans for an £11m (US$14.2m, €13m) extension to The Gobbins, a famous cliff-face path at Islandmagee, County Antrim, Northern Ireland, have made significant progress, according to the local borough council.
London's V&A Museum of Childhood to close for two-year redevelopment
Creating an "unforgettable first museum experience for children" is the aim of the V&A Museum of Childhood in London, which has announced it will close in May 2020 to undergo a two-year, £13m (US$16.9m, €15.7m) transformation.
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Global Solutions for Clothing creates award-winning costumes
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+ More catalogues  
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+ More directory  
DIARY

 

23-25 Mar 2020

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+ More diary  
 


ADVERTISE . CONTACT US

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

©Cybertrek 2020

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
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