Thanks to the Blockbuster hit “Star Wars, The Force Awaken” has brought Walt Disney Company to its highest quarterly earnings in history.
The movie has already made $2 billion in global box office sales, paired with the theme park attendance and merchandise sales have helped Disney’s first quarter revenues hit $15.2 billion, that is an increase of 14% from last year!
The cable division which houses ESPN is down 5% from a year ago, among other reason’s Disney is saying the cost for the most important contract “Monday Night Football” has increased by 72% since the previous contract ended in 2013.
According to S & P Global Market Intelligence analyst Tuna Amobi the 7th installment of the Star Wars franchise is “almost the singular driver” of the consumer -product and film division last quarter.
Thanks to the purchase of Lucasfilm in 2012 Star Wars is another movie franchise Disney can cross-pollinate it merchandise and theme park division. “The Force Awakens” is the first in a triology which will be coming out over the next three years.
Disney Chief operating officer Tom Staggs says the company will keep the increase in revenue with new attractions guests will like;
- Frozen ride will be opening in Epcot the year
- Avatar land will be opening in Animal Kingdom on 2017
- Star Wars land will be coming to both Disney World and Disneyland
With the new attractions opening and more Star Wars films on the way I don’t see earnings going down anytime soon!
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