The Disney Parks Experiences and Products segment of The Walt Disney Company reported income of $2.2 billion in the third quarter of its 2021 fiscal year, on revenue of $4.3 billion. That was up substantially from income of $356 million and revenue of $1.1 billion in the 2020, when many of Disney's theme parks were closed due to the pandemic.
Consumer products drove income in the quarter, during which Disney's domestic theme parks posted an income of $2 million, while the international parks lost $210 million. Consumer products income of $564 overcame those numbers.
During the quarter, Disney's domestic parks - Walt Disney World and Disneyland - posted $2.656 billion in revenue while the international parks posted $526 million.
In the third quarter of 2019 - before the pandemic - Disney posted $1.7 billion income on $6.6 billion in revenue for the Disney Parks Experiences and Products segment. Disney does not report theme park attendance numbers in its financial reports.
In response to investor questions, CFO Christine McCarthy said that Disney expects to have its Walt Disney World and Disneyland resorts fully staffed up by the end of 2021.
"We're going to be increasing capacities as we as we have demand, and we're also able to train thoroughly our employees as they come back in. Once again, this is an ever changing landscape with Covid, but you know we're going to be particularly careful. We're going to bring our capacity online aggressively but measured. We're not just going to open up the doors. We're doing this in a measured fashion for the health and safety of not only our guests but also our cast members in the parks."
Disney CEO Bob Chapek spoke about the upcoming Disney Genie recommendation app that the company is planning to introduce at its theme parks at some point in the future.
"My Magic+ was us basically sticking our toe in the pond of this type of transformational work. Disney Genie, though, is that program on steroids. This is going to revolutionize our guests experience - guests are going to spend less time waiting and more time having fun in our parks, with a dramatically improved guest experience that's going to make their navigation of their day and their planning of their day much easier.
"Essentially what it's going to do is take the consumer preferences that we know from our consumers and blend that with industrial engineering data that we've got in terms of how our park is operating that day, and meld those together to make suggestions on the fly that not only will lead to that improved guest experience, but at the same time, lead to substantial commercial opportunities for us as the guest navigates their days. So it certainly qualifies, in my mind, for both materiality and transformational impact on our business in the US."
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@ Chad H: Six boxes of popcorn and a set of discontinued 'Good Dinosaur" ears.
Disney Genie will be used for crowd control, plain and simple. We all know Disney overstates wait times at the entrance of each attraction’s queue. Now Genie will do that from your phone and will steer you where Disney wants you to go through push notifications, and will also encourage you to skip long lines by buying per-ride passes like what is happening in Paris right now.
Disney Genie, the sheep herding app to sell merch.
Forget about FastPass - what if they think you’ve been riding too many rides, or they want to spread people out so they offer a 25% off coupon for Cheshire Cat tails only good in the next hour? Could get real weird.
That raises a Lot of questions in terms of how much actual Freedom You would have in the parks. If i ignore the genie completly some times You would end be against the flow of people meeting long lines or out of sudden just walkin into a ride. The same with wainting for a table for eating. But it would it random for You. No amount of planning can change this if the genie sorts out the distribuition of guests. Does the system reacts to people or the opposite.?? And can the system handle 85,000 guests or plus in the summer in Magic kingdom?? Sounds like a mess waiting to happen.
@TwoBits
This is true. Every attraction I went during Disneyland’s 66th anniversary weekend had shorter wait times than what was posted. For example, the 2 times I rode Mission Breakout had a wait time of 70 minutes but it took me 23 minutes to go through the queue and get boarded into the elevator.
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>>Consumer products income of $564 overcame those numbers.
That's what, a few dozen towels?