Disney’s theme parks division has reported $7.4 billion in revenue in the fourth quarter of 2022, an increase of 36 percent compared to the same period in 2021.
Bob Chapek, CEO of the Walt Disney Company, said Disney has had a “strong year”, noting “record results at our parks, experiences and products segment”.
“And as we embark on Disney’s second century in 2023, I am filled with optimism that this iconic company’s best days still lie ahead,” he added.
In an investors call, Chapek said Disney’s parks team is “laser-focused on enhancing the guest experience and creating those magical memories”.
Increase of 36% compared Q4 2021
Chapek said: “This focus, along with the investments we made to bringing new attractions and experiences to our domestic parks, is generating consistently strong demand, which, on many days, exceeds our current capacity.”
In Q4 2021, Disney reported $5.5 billion in revenue. Operating income in Q4 2022 increased by nearly $900 million to $1.5 billion compared to the same quarter in 2021.
Disney attributed this growth to increases in attendance and guest spending at its US parks and experiences, as well as the debut of its latest cruise ship, the Disney Wish.
The rise in guest spending was due to an increase in average per capita ticket revenue driven by the introduction of Genie+ and Lightning Lane in the first quarter of 2022.
Improved results at Disney’s international parks were attributed to growth at Disneyland Paris, due to increases in attendance and higher average ticket prices.
“Our parks, experiences, and products segment had another stellar quarter, with operating income in the fourth quarter more than doubling versus the prior year to $1.5 billion,” said Disney CFO Christine McCarthy.
“We are also making meaningful progress on the return of international visitors to our domestic parks, particularly at Walt Disney World, where the mix of international attendance in the fourth quarter was roughly in line with pre-pandemic levels.”
Images: Disney
