While Attendance is Down, Revenue is Up at Walt Disney World
Another interesting take from The Walt Disney Company’s third quarter earnings call is that even though attendance is down for Walt Disney World, revenue has increased.
During the call, Bob Chapek acknowledged that due to increased COVID numbers in Florida, many more Guests cancelled reservations than they expected. However, the Guests that are are coming are spending money which has caused Walt Disney World to make a profit, even with lower attendance numbers.
Chapek also stated that 50% of current Guests visiting Walt Disney World are from the local area while the other 50% are from out of state. Even with these numbers, Parks are still not at capacity even with the new Disney Park Pass theme park reservations that limit the total number of Guests in the Park.
Chapek does think that once COVID numbers start to fall off in the Orlando area and state of Florida, that consumer confidence will rise and the attendance numbers will start to pick up again. Over the past few days, it does appear that numbers in Florida are at least beginning to plateau.
While the Disney Parks, Experience, and Products division of the Walt Disney Company reported billions of dollars in losses, after hours trading has caused the stock price to increase by over 5% as of publish time of this article.
It was also announced in today’s earnings call that the much-anticipated, live action Mulan will be added to Disney+ beginning September 4, 2020 at a premium rental fee of $29.99. Disney+ also significantly exceeded subscription numbers for the third quarter which helped balance out losses from the Parks division.
As we have been reporting, with the lower attendance numbers at Walt Disney World, it makes it a great time to visit the Parks if you are looking for low wait times on popular attractions. Disney is doing everything they can to ensure all Guests and Cast Members stay safe and healthy with enhanced sanitation measures, social distancing measures, and the requirement of face masks.
Let’s start planning your Walt Disney World vacation to take advantage of those low crowds! Are you a teacher or someone on the front lines battling the virus? Fill out the form below or send an email to Holly@MickeyTravels.com for a FREE, no-obligation quote to book your Disney vacation. Plus, if you are a teacher or someone on the front lines fighting this virus, you will receive a Disney Gift Card when you book your Disney vacation with me by December 31, 2020. As an agent with MickeyTravels (a Platinum Earmarked Agency), I will be on hand to help you with everything from finding your perfect package and I offer rate monitoring to ensure you are receiving the best rate available by Disney. I work with all Disney Destinations and destinations outside of Disney. Best of all, my services are absolutely FREE. Get in touch via email at Holly@MickeyTravels.com or calling 954.401.9577. Also, make sure to CLICK HERE to follow along with my Facebook page for all things Disney and giveaways!
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Image/Source Credit: Disney