Disney advises of revival of theme park earnings

November 15, 2021

The Walt Disney Company has reported that its theme parks business nearly tripled its revenues in the last financial quarter posting a 99% increase in global takings for the three months ending on 2nd October.

Reporting its fourth quarter and full fiscal year earnings as of last week, Disney’s theme parks reported operating income of US$640 million, compared to a loss of US$945 million a year earlier.

While Disney’s overall net income was US$159 million in the fourth quarter, compared to a US$710 million loss a year ago, the results reportedly disappointed investors with the company’s share price falling on Wall Street.

While growth of the Disney+ streaming service slowed, the group’s theme parks were a bright spot, seeing a pick-up in attendance in the second half of 2021.

The company’s parks, experiences and products segment produced positive operating income for the first time since the pandemic began last quarter and improved on those results during the most recent period.

All of Disney’s global theme parks were open during the fiscal fourth quarter and all of its cruise ships resumed sailing. The business unit as a whole, which includes theme parks, hotels and merchandise, saw revenue grow 26% to US$5.45 billion.

Disney said it incurred a total cost of US$1 billion throughout fiscal 2021 in order to meet government regulations and increase safety measures for its workers and guests.

Looking forward to 2022 and a post-pandemic era, The Walt Disney Company Chief Executive, Bob Chapek stated “as we close out the fourth quarter, I'm pleased to say it's been a very productive year for the Walt Disney Company as we've made great strides in re-opening our business while also taking meaningful and innovative steps to position ourselves for continued long-term growth.”

Tokyo DisneySea marks 20th anniversary
Meanwhile, Tokyo DisneySea has reached the 20th anniversary of its opening.

Opened on 4th September 2001, Tokyo DisneySea is the first and only Disney theme park celebrating the myths and legends of the sea. During its 20 years, Tokyo DisneySea has taken guests on epic voyages of romance, adventure, discovery and fun, with unique experiences that can’t be found anywhere else.

Due to emergency orders from the Japanese Government, the parks of the Tokyo Disney Resort have been limited in capacity, so unfortunately there was no ceremony for the anniversary.

However, guests can celebrate the 20th anniversary all year long with the new ‘Time to Shine!’ show featured on the park’s main lagoon, Mediterranean Harbour.

The show runs every day up to 3rd September 2022.

Images: Tokyo DisneySea (top) and the park celebrates its 20 years of operations (below, credit: the Laughing Place).

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