This week Disney reported their third quarter and nine month earnings for their fiscal year. During the report Disney’s CEO, Bob Iger, shared some insights and news on future projects for the company.
As has been suspected by many Disneyland visitors this summer, Iger confirmed guest numbers at the US-based theme parks and resorts are down.
Despite the drop in visitors to the US-based parks and resorts, the Parks, Experiences and Products revenue saw a seven percent increase. The increase is a result of strong consumer product sales, especially Toy Story 4 merchandise, and a higher ticket price in Disneyland Paris.
The increases in those areas were offset by lower visitor numbers in the US-based parks as well as the labor and expenses associated with the Star Wars: Galaxy’s Edge lands.
Iger stated, “There was tremendous concern in the marketplace that there was going to be huge crowding when we opened Galaxy’s Edge,” “So some people stay away just because they expected that it would not be a great guest experience.”
With Avengers: Endgame becoming the highest grossing film ever coupled the successes of Aladdin, Captain Marvel, and Toy Story 4 Disney has enjoyed a $8 Billion box office haul so far this year. This is tempered by the disappointing performance of Fox’s X-Men film, Dark Phoenix.
News was also shared on the streaming front. Bundle pricing was released for Disney’s new streaming service, Disney+ launching on November 12. Subscribers can bundle the new service along with Hulu and ESPN+ for $12.99 a month. Learn more about the Disney+ bundle pricing and package here.
In addition to the special pricing, Iger shared the news that Disney will be “re-imagining” Home Alone for Disney+. Other films and franchises Disney acquired from 21st Century Fox will also be re-imagined for various platforms including Night at the Museum, Cheaper by the Dozen, and Diary of a Wimpy Kid.
To read the full report visit the Walt Disney Company website.
What do you think of the upcoming re-imaginations of films? Let us know in the comments!
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