Disney Parks and Resorts see growth in third quarter of 2021

Disney released their 2021 third quarter report today. The Disney Parks, Experiences, and Products section reported revenue of $4.3 billion, an increase of 100% versus the 2020 third quarter and $1 billion more than last quarter.

Related – Disney Parks & Resorts suffer losses for the 2nd quarter of 2021

All Disney parks worldwide were open during the third quarter though only the domestic parks were profitable. Domestic parks posted a profit of $2 million. Meanwhile, international parks had a loss of $210 million.

“We ended the third quarter in a strong position, and are pleased with the Company’s trajectory as we grow our businesses amidst the ongoing challenges of the pandemic,” said Bob Chapek, Chief Executive Officer, The Walt Disney Company. “We continue to introduce exciting new experiences at our parks and resorts worldwide, along with new guest-centric services, and our direct-to-consumer business is performing very well, with a total of nearly 174 million subscriptions across Disney+, ESPN+ and Hulu at the end of the quarter, and a host of new content coming to the platforms.”

Related – The Walt Disney Company Reports First Quarter Earnings for Fiscal 2021

The Disney parks in the US have increased capacity which lead to higher attendance and more guest spending.

Hopefully the financial effects of the pandemic are on the decline for Disney.

Source

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