A visit to the Disney Parks is a dream for many, but with increased prices, Disney finally sees the effects of decreased attendance. Find out what this decline may look like.
New Earnings Report
Once a highly sought-after travel destination, the thrill of a trip to Walt Disney World is not quite as strong according to The Walt Disney Company earnings report. Today, The Walt Disney Company shared their earnings report for the 3rd quarter of the 2024 fiscal year.
The Walt Disney Company shares that “Experiences revenue grew 2% year over year, while segment operating income came in short of our prior guidance.”
Although revenue increased for the domestic Disney Parks, there was a 3% decline in guest attendance. So it appears that fewer people are making that Disney trip, but those that do arrive are spending more than in previous years.
Lower Attendance Projected
So what does this mean in the foreseeable future for the Walt Disney World and Disneyland? Disney expects a “flattish revenue” for the 4th quarter of this 2024 fiscal year. They were quick to respond that this is not a decline but that revenue is in a “flat” state neither increasing or decreasing.
The Walt Disney Company shared during a “Question and Answer” session, that they expect this “flattish revenue” to continue for a just a couple of quarters which will lead into 2025.
They share that this is simply a “slowdown” due to the economic pressures many are feeling at this time. The Walt Disney Company feels that income and park attendance will soon increase later in 2025.
What this may mean
The fact that fewer guests are in attendance but revenue still increased is a sign that the price of a Disney vacation may be part of the reason for this “flattish revenue”.
The Walt Disney Company expects “flattish revenue” for the next couple of quarters.
Disney has aimed to increase attendance with summer ticket offers at both domestic parks. Starting in 2025, Walt Disney World Resorts guests can also enjoy free water park admission. It will be interesting to see if additional offers are available in response to this decrease in park attendance.
What do you think of the decline in Theme Park attendance? Do you think The Walt Disney Company needs to make changes to increase attendance? Share your thoughts with us and share this news with your Disney pals.
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Marcy
Thursday 8th of August 2024
Yes, lower attendance but more money spent. That is not because people purchased more but the things they purchased are extremely expensive. What used to cost $10 is more like $22. I am here now and everything is very very expensive! Where we might make 2 trips in a year and a half we will need to Make less trips due to cost!
Marcy
Thursday 8th of August 2024
@Marcy, PS. Not renewing Annual Pass!
Linda
Wednesday 7th of August 2024
Go woke, go broke is still very real. We gave up our family's 6 top tiered Annual passes along with our 3-4 resort stay vacations every year and thousands of dollars that we now spend in other theme parks & vacations. And along with Disney's changes to so many things, park reservations, less perks, etc., it's such a lot of work just to plan a vacation there now.
JW
Wednesday 7th of August 2024
Knew this would happen after the post-covid rush was over. It'd be great to have someone in upper management who wanted to bring back the magic at the parks...doesn't look like that'll happen any time soon. You can't keep drastically increasing prices while cutting perks!
Jay
Wednesday 7th of August 2024
@JW, this is so true. They took away all the perks, raised prices and limited new offerings. What would you expect and this time next year, they have to deal with another park at Universal.