Disney Reports More Record Profits

MyMagic+ is finally turning a big profit for Disney. Even though they say the cost of the program has still not totally been recouped.

According to Disney about three-quarters of their guests stay in a Disney Resort, and only one quarter of the guests have only just started using Fastpass+ last month.

“We are pleased with some of the changes in guest behavior and park dynamics we are already seeing,” Walt Disney Co. Chief Financial Officer Jay Rasulo told analysts during a conference call to discuss Disney’s fiscal second-quarter results.

Disney said they made a $1.9 billion profit for the period ending March 29. Total sales jumped 10 percent to $11.6 billion.

Oh but that is not all, at Disney’s parks-and-resorts division, operating profit jumped 19 percent to $457 million on sales that climbed 8 percent to $3.6 billion. Disney said the profits would have been higher if Easter had not arrived late this year.

Disney credits the big profit growth to higher ticket prices and more food and souvenir sales at Disney World. Also higher attendance at Disneyland.

“Because FastPass+, the ability to basically plan your day as it relates to top attractions in the park in advance, has had huge pickup by our guests, it allows a better distribution of guests around the park,” Rasulo said. “And quite often the amount of capacity we can let into the park is highly driven by pinch points and particular areas of the park that we don’t want to get too overcrowded. So when guests are better distributed around the park, we can let more in.”

Ensuring that visitors can visit the park they want on the day they want — even on the peak days of the year, also has a “huge enhancement” on the guest experience, Rasulo said.

Disney is also “looking at a variety of other things to add in Orlando,” Iger added. “So there’ll be plenty more that we put into the marketplace that will take advantage of any growth the marketplace has.

Wishing you Faith, Trust, and Pixie Dust

Sunshine

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