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During today’s earnings call, Disney executives shared their efforts to “control attendance” at Disney Parks to ensure a “quality Guest experience.”
The Walt Disney Company held its quarterly earnings call today, this time to discuss the company’s financial picture from January 1 through April 2, 2022–the first quarter of the calendar year but Disney’s 2nd quarter of the fiscal year 2022.
Disney CEO Bob Chapek participated in the call with Wall Street executives, as did Disney CFO Christine McCarthy. Chapek began by touting the company’s high points from January, February, and March 2022. He also touched on topics like Disney+, including plans for an ad-supported platform and new content coming to the platform, the new Star Wars: Galactic Starcruiser experience at Disney World, and the soon-to-open Guardians of the Galaxy: COSMIC REWIND coaster at EPCOT.
At the conclusion of Chapek’s introduction, Christine McCarthy, Chief Financial Officer of The Walt Disney Company, began by sharing a snapshot of Disney’s share prices over the quarter.
Credit: Irish America
She quickly transitioned to the topic of Disney Parks revenue and attendance, saying that on many days during the months of January, February, and March 2022, the number of Guests visiting Disney Parks exceeded pre-pandemic demand from 2019.
Credit: Disney Parks
“We continue to be pleased with the overall demand and attendance trends at our domestic parks,” McCarthy said. “In fact, there were many days in the quarter where we saw demand exceed 2019 levels; however, we are continuing to control attendance through our reservation system with an eye on delivering a quality Guest experience.”
Many Disney Parks frequent flyers aren’t fond of the Park Pass Reservation System, which rolled out at the Walt Disney World Resort in the summer of 2020 as the parks began a phased reopening after a nearly four-month closure in response to the growing coronavirus pandemic.
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“Per capita Guest spending at our domestic parks increased by over 40%, versus, Q2, of fiscal 2019. And by 20% versus Q2 of fiscal 2021. With increases across the board, on admissions, food and beverage, and merchandise,” McCarthy continued.
“Looking ahead to the third quarter, our forward-looking demand pipeline at both Walt Disney World and Disneyland remains robust. And while attendance from international visitation is still in the early days of recovery, we are beginning to see some improvements. We are also thrilled that, as of the end of March, all of our domestic resorts are now open. A major milestone, as we continue to move through the impacts of the pandemic.”
