Beijing News Shell Finance News (Reporter Zheng Yijia) On February 8th, a reporter from Beijing News Shell Finance learned that Walt Disney released its first quarter report for the 2024 fiscal year as of December 30, 2023. During the reporting period, Walt Disney achieved revenue of $23.5 billion, of which the experience department, including theme parks, experiences, and consumer goods, set records in terms of revenue, operating profit, and operating profit margin.
Data shows that in the first quarter, the experience department of Walt Disney achieved revenue of 9.132 billion US dollars, a year-on-year increase of 7%; The operating profit was 3.105 billion US dollars, a year-on-year increase of 8%. In the theme park and experience department, local and international markets achieved revenue of 6.297 billion US dollars and 1.476 billion US dollars respectively, with a year-on-year increase of 4% and 35%; The operating profits were $2.077 billion and $328 million respectively, with year-on-year growth rates of -2% and over 100%. Consumer goods achieved a revenue of 1.359 billion US dollars, a year-on-year decrease of 1%; The operating profit was $700 million, a year-on-year increase of 4%.
The announcement pointed out that the revenue of theme parks and experience departments in the local market has declined, mainly due to the decline in performance of local theme parks and resorts, which has been offset by the good performance of Disney cruise ships. In the international market, Shanghai Disney Resort and Hong Kong Disney Resort have become the main driving forces for operating profit growth.
From the perspective of Shanghai Disney Resort, on the one hand, the increase in visitors and the increase in ticket prices have led to higher tourist expenses; On the other hand, due to the impact of the epidemic in the same period last year, Shanghai Disney Resort was only open for 58 days, resulting in impressive performance during the reporting period. The growth of Hong Kong Disneyland Resort also benefited from the increase in ticket prices and the year-on-year increase in opening days, resulting in an increase in the number of visitors compared to the same period last year. It is worth noting that in the first quarter, Shanghai Disney Resort and Hong Kong Disney Resort respectively welcomed the opening of "Zootopia" and "Ice and Snow Wonderland" theme parks.
In addition, Disney cruise ships operate frequently. During the reporting period, Disney Cruise Line disclosed its route deployment in early 2025 and set sail for the first time from the Australian coast, further expanding its cruise operation scope. Last November, Disney Cruise opened its second full year home port in Florida. Last December, Disney Cruise, a subsidiary of Disney Cruise, completed the installation of the main hull structure and will enter the installation phase of internal equipment and interior. According to the plan, Disney Treasure will launch its maiden voyage on December 21, 2024.
Walt Disney CEO Bob Iger stated that the company still maintains an optimistic attitude towards revenue and profit growth in the experience department. Over the next decade, Walt Disney plans to invest approximately $60 billion in the department, with 70% of the funds going towards global expansion.