On November 10 the Walt Disney Company released its 2021 Fourth Quarter Report. The fiscal year ended on October 2. Here are some of the highlights.
We’ll start with the Theme Parks. There was growth over the same quarter last year, although 12 months ago not all of the Disney Parks were open. The fourth quarter might be the first since the pandemic began that all of the Disney Parks across the planet were up and running. Shanghai Disneyland did recently close for a couple of days, but that was after October 2. Although all the Theme Parks were open, capacity is still limited in some.
Disney CEO Bob Chapek claimed that Disney Genie is a success. He said that nearly a third of all Walt Disney World Guests are paying for the Genie+ upgrade. He also stated that the Galactic Starcruiser is almost sold out for the first four months next year. According to Chapek, attendance at Walt Disney World has increased by double digits since the third quarter. He also stated that attendance is increasing at Disneyland, and that the Magic Key program is quite popular.
Disney+ did not see the increase expected. There are currently 118.1 million subscribers, while it was estimated that the service would have 126.2 million subscribers by the end of the quarter. That is still impressive for a service that is just two years old! November 12 is Disney+ Day, with deals that could give a boost to the number of subscribers.
Disney Cruise Line is still rebounding. The entire cruise industry was shut down until just a few months ago. Current cruises are running at reduced capacity, and there are restrictions. Revenue is up from the same quarter last year.
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