Disney theme parks division posts first profit since pandemic slammed amusements industry
307.6% to $4.3 billion, up from $1.06 billion during the same period last year.
Much of this profitability is attributable to the segment's consumer products business, which saw operating income reach $564 million, up 290% compared with the same period last year. During the quarter, Disney garnered higher revenue from merchandise based on Mickey and Minnie, Star Wars, Disney princesses and Spider-Man.
The resurrection of the theme park industry is critical to Disney's bottom line. After all, in 2019, the segment, which includes cruises and hotels, accounted for 37% of the company's $69.6 billion in total revenue. Typically, theme parks account for the majority of this revenue. Walt Disney World Resort in Orlando, Florida and Shanghai Disney Resort were open for the entire quarter. Last year, during the same period, Disney World was shuttered entirely and the Shanghai location was only open for 48 days. Hong Kong Disneyland was open for 72 days this quarter, compared to 10 days during the same period last year.
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