Back in September, Hurricane Ian hit Florida and caused lots of destruction for residents of the state.
Several theme parks including Universal Orlando, Legoland Florida, SeaWorld, and Disney World closed due to the storm. Park passes, hotel reservations, and more were also impacted by the storm, but Disney was able to reopen the parks within a couple of days. However, that closure cost Disney quite a bit of money.
Today, November 8th, Disney is hosting its Q4 earnings call where the company reviews its entire fiscal year and the last quarter. During the call, we learned how much Hurricane Ian impacted Disney financially.
According to Christine McCarthy, Senior Executive Vice President and Chief Financial Officer for The Walt Disney Company, Hurricane Ian was a “$65 million drag on the quarter.” Disney CEO Bob Chapek also commented on Cast Members who went above and beyond to keep guests entertained during the storm.
At the call so far, Disney has also commented on its Disney+ subscribers saying that the streaming service has gained 50 million subscribers since this time last year. Also, Disney stock has dropped under $100 for the second time in 2022.
We’ll continue to bring you updates from the Q4 earnings call, so stay tuned for more updates.
How Much Money Is Disney REALLY Making? See Updates From the Q4 Earnings Call
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Bob was right. The CMs definitely went above and beyond. We were at Beach Club and the CMs there were amazing. And by Friday evening (Ian was Weds/Thurs) the resort looked like nothing had happened at all.
We were at the Boardwalk. The staff and characters were terrific! They even entertained the adults! My Son in law played a game of guitar hero with Goofy while Chip reclined in the massage chair. The kids played games, had dance parties, a costume parade, they looked liked they were all having a great time. We had a great buffet for all meals in the conference center since the resort has no internal restaurants or food courts. The damage was light, small branches and leaves but in probably 24 hours or less, you couldn’t tell anything had happened. We felt very safe and secure.