Disney highlights theme park strength with new financial reporting model
Publishing timestamp: 2023-10-19 13:41:51
Summary
Disney has made changes in how it shares financial details for its theme park division, revealing that its theme park business is strong. The company reported over $24 billion in revenue for the first nine months of the year, with theme park admissions alone accounting for nearly $8 billion. Disney is investing heavily in its parks business, with plans to spend around $60 billion over the next 10 years. Despite a slowdown in the overall theme park industry, Disney's theme park revenue continues to grow. The company has raised ticket prices but also offers discounts during non-peak seasons. Disney has various projects in motion, including redesigning Splash Mountain and expanding its cruise line. The company has also teased potential new themed areas in its parks. Disney is set to report its fiscal fourth-quarter earnings on November 8th.
Sentiment: POSITIVE
Tickers: DIS, SIX, SEAS, CMCSA,
Keywords: entertainment, business, movies, breaking news: business, walt disney co, business news, life,
Source: https://www.cnbc.com/2023/10/19/disney-highlights-theme-park-revenue-growth.html