Disney CFO Credits Walt Disney World’s Attendance Growth to Strength of IPs
Despite contemporary volatility and uncertainty with regard to travel expenses, The Walt Disney Company’s Experiences division is performing quite well.
The Mouse reported a 3% increase in attendance at its domestic parks in its Q3 earnings report, with operating income across the division growing by 20% to more than $3 billion.
Photo: Disney
This performance boost comes at a time when traveling—given a myriad of factors—is a much steeper proposition than it generally is. Universal, perhaps Disney’s foremost competitor in the themed entertainment space, has faced the brunt of this reality, reporting a 5% profit dip for its parks in the same quarter.
Photo: Josh D’Amaro on Instagram
Even Disney CEO Josh D’Amaro said the Experiences division’s stellar Q3 was “a big surprise.” Disney Chief Financial Officer Hugh Johnston recently expounded on the division’s performance during a Q&A at the Goldman Sachs Communacopia + Technology Conference, making particular note of Walt Disney World Resort.
Disney CFO Talks About Walt Disney World’s Attendance Growth
Photo: Deadline
“There was a belief going into Q3 earnings that, in fact, we were going to be challenged in Orlando,” Johnston said, per Florida Politics writer Gabrielle Russon. “And in fact, the numbers were quite the opposite.
“They were rather strong. And that’s a lot about our (intellectual property).”
Buzz Lightyear’s Space Ranger Spin
What makes Walt Disney World’s strong Q3 metrics and corresponding attendance growth a bit surprising is the lack of marquee new offerings that opened throughout the period.
The bulk of the resort’s 2026 updates have been more quality-of-life improvements rather than wholly new developments.
Rock ‘n’ Roller Coaster Starring the Muppets
Magic Kingdom’s Buzz Lightyear Space Ranger Spin and Hollywood Studios’s Rock ‘n’ Roller Coaster received overhauls, but these aren’t necessarily changes that are going to compel the masses to book a trip to Orlando.
Bluey’s Wild World at Disney’s Animal Kingdom has undoubtedly brought more eyes to the resort’s fourth gate, but that, again, isn’t all that ambitious of an offering.
Bluey’s Wild World
Disney has instead largely bet on the quality of its existing offerings and, as Johnston alluded to, the mainstream appeal of its IPs to drive theme park attendance this year. It’s demonstrably working.
Johnston also spoke about Disney Cruise Line during the Q&A. “We can’t fill all the demand that we have right now,” he said, per Russon.
Disney Cruise Line plans to expand its fleet to 13 ships by late 2030. Disney Believe, its ninth ship, will set sail next year.
A Different Story For The Competition
Universal Orlando
Disney’s crosstown rival had a comparatively less fruitful Q3. Universal reported underwhelming financials and attendance figures, citing “weakness in consumer sentiment and higher travel costs.”
Comcast CFO Jason Armstrong said at the Goldman Sachs Q&A that the “softness” in the Orlando market has carried over into this quarter. He again attributed the dip to “gas prices” and “airfare,” per Russon.
Photo: Universal
The executive went on to say that Universal Orlando is “up materially in every metric” compared to two years ago.
“So that’s attendance, that’s per caps, an overall financial performance, and we’re rating really well in guest satisfaction.”
Photo: Universal
One would hope this would be the case, considering Universal now has an entire park that wasn’t there two years ago. Epic Universe opened in May of last year.
Armstrong said Epic Universe “sort of lifed all of Orlando” upon its opening. It’s interesting that, a year later, it’s Universal’s competitor that is perhaps still capitalizing on the momentum.
Photo: Universal
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