Gabrielle Russon
Disney World’s Summer 2025 bookings are on the rise even as its biggest Orlando competitor is set to open a brand-new theme park next year.
The Walt Disney Co. released its fourth-quarter earnings that beat Wall Street estimates as revenue grew by $22.6 billion, up 6% from the same time period last year. Disney’s business division, which includes theme parks, reported that revenue was up by 1%, or $100 million, over last year.
Universal Orlando, meanwhile, opens Epic Universe on May 22. The park will feature new lands themed around Nintendo, Harry Potter, “How to Train Your Dragon” and more.
One analyst asked Disney leaders about the effect the Universal park could have on Disney, which operates the Magic Kingdom, the No. 1 theme park in the world.
Disney Chief Financial Officer Hugh Johnston downplayed any concerns to analysts as he brought up the increased Disney bookings.
“We also looked at the history of other attractions opening up and other parks opening up in Florida, and it’s generally been beneficial to us,” Johnston said.
Johnston’s words sound similar to what Marc Swanson, CEO of SeaWorld parks, said earlier this month. More tourists coming to Orlando benefits everybody, Swanson said.
Disney is investing billions of dollars into its theme parks worldwide, including those in Orlando. Some of the projects include a Villains-themed land at the Magic Kingdom.
But what does it mean for the parks? It’s not unusual for Disney to build a new ride by simply replacing it over the footprint of an older ride. Will the new rides bring more capacity so more people can come to Disney? Or does it mean Disney can just charge more money at the parks?
Both, Johnston said, when one analyst asked.
“What we projected is a balance of both, and frankly, we’ll have the ability to flex that as we learn our way into it,” Johnston answered.
The Walt Disney Co. has become a pipeline with its movies fueling intellectual properties at its theme parks, cruises and consumer products and games.
“It’s worth noting that a successful Disney movie today drives more value than it ever has in the past,” CEO Bob Iger said.
Disney did not disclose Thursday how much Hurricane Milton cost the company. The hurricane closed Disney World for a full day and canceled Halloween festivities in October, so the financial impact will be reported in the next quarter.
One comment
Fred S
November 15, 2024 at 7:49 pm
Sorry. Not even close to credible. WDW has suffered from decades of poor leadership and underinvestment with huge swaths of its parks extremely dated. Recent additions are too little, too late especially when combined with Disney’s loss of imagineering talent and pervasive wokeness. Compounding the weakness of its offering, WDW has priced out much of its core audience with insane increases for everything.