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Disney reported its Q3 2024 earnings on Tuesday, and though the company saw wins in its streaming division, its namesake theme park experiences didn’t have the same results.<\/p>\n
The company reported an operating income<\/a> decrease in Q3 of 3.3% to $2.22 billion in its Experiences segments, which includes its theme parks both domestically and overseas.<\/p>\n Related: Disney World and Disneyland Are Hiking Ticket Prices. Here’s How Much and When It Goes Into Effect.<\/a><\/b><\/p>\n Operating income for the Parks division in the U.S., specifically, was down 6% though operating income for International Parks was up 2% and overall revenue for Experiences was up 2%.<\/p>\n “We expect to see a flattish revenue number in Q4 coming out of the parks,” said Disney Chief Financial Officer Hugh Johnston on a call with investors<\/a>. “It’s really just a few quarters. I don’t think I would refer to it as protracted, but just a couple of quarters of likely similar results.”<\/p>\n Disney blamed inflation and higher costs inside the parks, though Johnston noted that consumers are still “reluctant to cancel vacations” and that there might not be a reason to sound the alarm just yet.<\/p>\n “We saw a slight moderation in demand, I certainly wouldn’t call it a significant change,” Johnston said. “I would just call this a bit of a slowdown that’s being more than offset by the entertainment business.”<\/p>\n In October<\/a> 2023, Disney raised prices for single and multi-day tickets at Disneyland in California and Walt Disney World in Florida.<\/p>\n Single-day ticket prices increased by nearly 9% at Disneyland, while Disney World annual passes increased by 10% per tier.<\/p>\n “We are constantly adding new, innovative attractions and entertainment to our parks and, with our broad array of pricing options, the value of a theme park visit is reflected in the unique experiences that only Disney can offer,” a Disney spokesperson said in a statement at the time, per CNBC<\/i><\/a>.<\/p>\n Related: Report: Food Prices At Disney Have Increased 60% in 10 Years<\/a><\/b><\/p>\n Overall, Disney’s operating income<\/a> was up 19% to $4.225 billion in Q3, thanks to strong wins in the company’s Entertainment segment, which includes streaming and Disney+.<\/p>\n Also on Tuesday, Disney announced in a press release<\/a> that it is raising prices on its streaming platforms (Disney+, Hulu, ESPN+) by around $1 to $2 more a month.<\/p>\n Disney was down<\/a> over 4.4% in a 24-hour period on Wednesday afternoon.<\/p>\n<\/p><\/div>\n