Disney Theme Parks Soar with $6.3 Billion Domestic Revenue in First Quarter of 2024 with 7% Overall Growth
Disney’s theme park division reported a robust performance in Q1 2024, generating an impressive $6.3 billion in domestic revenue. The overall parks and experiences revenue reached $9.1 billion, marking a notable 7% increase compared to the same quarter last year.
Related – Disney Shares First Look at Moana 2 – Coming to Theaters in 2024
While the segment experienced a decline in operating income, particularly at Walt Disney World Resort, higher results from Disney Cruise Line helped offset the reduction. Factors contributing to lower results at Walt Disney World Resort included decreased attendance and occupied room nights compared to the prior-year quarter, which included the 50th-anniversary celebration. Higher costs influenced by inflation, partially mitigated by cost-saving initiatives and lower depreciation, also impacted the operating income.
Disneyland Resort’s results mirrored those of Q1 2023, with revenue growth counterbalanced by increased costs attributed to higher average ticket prices, attendance growth, and inflation-driven expenses.
Disney Cruise Line witnessed growth, fueled by higher average ticket prices and increased passenger cruise days. Shanghai Disney Resort experienced growth compared to the previous year when it was temporarily closed due to the COVID-19 pandemic. Hong Kong Disneyland Resort reported higher operating income, while Disneyland Paris results remained comparable to the previous year.
Notably, Disney revamped its Disney Parks, Experiences and Products division, renaming it Disney Experiences in late December.
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