Disney’s once-battered theme parks are back with revenue doubling and solid profits last quarter, besting pre-pandemic levels and even setting records.
Execs cited a combination of increased attendance and higher average per capita ticket prices — although both of those have caused griping on social media with Reddit chatrooms complaining about lines and costs.CEO Bob Chapek said “demand” is behind the rising prices. “This is a supply and demand business, unfortunately.
Unlike Disney+, we have a finite supply,” he told CNBC today. An infinite number of people can tune in to the streamer on any give day (and Disney hopes they do).Parks and streaming had Wall Street applauding, and bidding up Disney shares by 8% in late trading.
Parks, experiences and resorts had sales of $7.2 billion, more than double a year ago and repping a third of Disney’s $22 billion in total sales.
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