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Most recently Disney Park news hasn’t been the most ideal for The Walt Disney Company. With raised ticket prices, large crowds, and disgruntled Disney fans because of upcharge services, it seems like Guests have just about had enough. But, Disney’s latest financial reports show otherwise, as Disney hits a near-record first quarter for its Parks.
During an earnings call on February 9, 2022, The Walt Disney Company discussed fiscal first quarter 2022 financial results. The first quarter on the Disney Park platform made exceptional revenue with what Disney’s CEO, Bob Chapek, shared is driven by larger crowds spending more in the Park.
Disney Parks, Experiences, and Products division reported making more than $7.2 billion in revenue in the first quarter which ended on January 1, 2022. This record is a massive increase as Orlando Sentinel shared this revenue more than doubled the nearly $3.6 billion made in the first quarter of 2021.
It seems like this first-quarter revenue isn’t a fluke either, as it is comparable to the Park’s recent record of almost $7.4 billion reported in its first quarter of 2020 prior to the COVID pandemic.
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The Park’s division revenue comes from several Disney Park channels with Guests spending more on several fronts from Disney Resort room stays, to merchandise, dining options, and everything in between. Most noticeably to Disney fans is the removal of the former complimentary FastPass System in October 2021 to the now upcharge Disney Genie+ and a la carte Lightning Lane attraction fees to skip the normal standby line at Walt Disney World Resort and Disneyland Resort.
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It’s obvious despite the groans over Disney CEO Bob Chapek and upcharges, Disney fans are still making their way to the Parks as the revenue for the company continues to grow.
You can read The Walt Disney Company fiscal first quarter 2022 financial report, as well as listen to the February 9, 2022 audio webcast here.
