A LOT has changed with Disney Parks over the past two years.
After the parks reopened, most of Disney’s theme parks around the world operated at limited capacity, but since 2020, that capacity has increased to the point that at least the domestic parks are pretty full once again. But just what does park demand look like right now? We’ve got the latest updates.
The Walt Disney Company recently released its Q3 2022 Earning Report and held an earnings call, during which time they discussed what demand for Disney theme parks looks like right now. We’ve certainly witnessed some crowds in Disney World this summer, and according to Disney’s executives, the company has not seen demand for the parks abate at all.
One individual who asked a question during the call asked whether the company has satisfied pent-up demand in the parks from the pandemic. Disney’s executive team responded by indicating that the parks had a great quarter. In fact, the Parks, Experiences, and Products division reached $7.4 BILLION in revenue during this past quarter.
As it stands, Disney’s Chief Financial Officer Christine McCarthy said that Disney is still seeing demand in EXCESS of the reservations being made available to guests. After reopening, both Disney World and Disneyland began to require guests to make park pass reservations for each day of their trip, and it seems that this reservation system might not be going away anytime soon.
Disney also mentioned how the number of annual passes has been limited across businesses, and how most of those (except for the annual passes at the highest tiers) also come with blackout dates. To bring more people into the parks (if demand were to decrease), McCarthy said they could consider reducing those blackout dates.
But she followed that up by noting that they have not seen demand abate at all, and still have many days when guests cannot get park pass reservations.
Of course, this isn’t always the case as there are days when Park Passes are fully available, but Park Passes can and do fill up.
The Disney executive team also noted that what they’re seeing is an increased demand/affinity for the parks, along with an increase in what guests are willing to spend when they get there to improve their experience.
This all serves as a good reminder to make those Park Pass reservations ASAP. You can cancel your Park Pass and make a new one in the future (subject to availability), but it’s best to get them sorted out BEFORE you run the risk of the days/parks you want filling up.
Disney Parks did hit $7.4 billion in revenue this past quarter, as we mentioned above, and Disney shared that some of that was attributed to increased guest spending. You can learn more details about that here.
In more news, Disney has unveiled its latest subscriber numbers for Disney+, and announced a price increase for the ad-free version of Disney+, as well as a release date and price for an ad-supported version of the service.
We’ll be sure to keep you updated with more news, so check back with us for all the latest!
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What do you think of the comments about park demand right now? Let us know in the comments!