Disney CEO Bob Iger says that theme park demand is softening from peak post-COVID travel

May 07, 2024 in "The Walt Disney Company"

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Bob Iger

Posted: Tuesday May 7, 2024 8:55am ET by WDWMAGIC Staff

During today's earnings call, Disney CEO Bob Iger discussed recent trends in park attendance and financial performance.

Disney EO Bob Iger commented on attendance softening at the parks from peak-post COVID spike

Iger noted a shift towards normalization following the peak post-COVID attendance, although the parks division still achieved a 10% growth this quarter. Iger pointed out that future bookings remain robust, indicating potential for continued strong growth.

Looking ahead, Iger mentioned that despite some one-time expenses in the third quarter, adjusted operating income (OI) is expected to show solid growth—mid to high single digits in Q3 and double digits in Q4.

Iger told investors, "We still see in the bookings we look ahead towards indicate healthy growth in the business. So we still certainly feel good about the opportunities for continued strong growth." He continued, "I feel like the parks business is still doing very very well. We've got the best in the business in terms of product. People still have a strong desire to basically go on vacation and come to see us."

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Sirwalterraleigh1 hour ago

Closer to $1 billion No joke

Angel Ariel1 hour ago

IMO, Tony Baxter is more recognizable than Iger or D'Amaro, and I just saw a recent video from DLR where a blogger saw Baxter in Galaxy's edge. Had the blogger not basically pointed him out in the video, I don't think I would have recognized him (definitely wouldn't have if we were doing our thing as a family in Galaxy's edge). I've seen his face on documentaries and extras a lot more than I've seen D'Amaro's.

C33Mom1 hour ago

Guys, Bob Iger is probably worth north of $100,000,000 — it doesn’t matter if he has to pay for LLMP and BOG for his entire extended family every day for a month.

Jrb19793 hours ago

Why would they want to visit a place they look down on and don't understand?

DisneyHead1233 hours ago

I think execs visiting their own companies as “regular” customers (not VIP visitors,) is always good practice. That said, I don’t know if it would help here. I’m sure they are well aware of areas where guest satisfaction is low. Len says they’re data people with world class data that not even Comcast can replicate, right? I think they know where the issues are, but the solutions involve serious denaro at a time where increasing cash on hand seems to be a growing corporate philosophy. I do think attendance dips and competition from Universal / other cruise lines will be enough to shake things up though.

TheMaxRebo4 hours ago

Oh, it would be great, and lots of stories of Walt having managers do it, etc ... Just not sure realistic for specific Bob or Josh to do it and not get recognized But no reason some of the senior managers/executives less known don't do that

Sirwalterraleigh4 hours ago

Tech giants don’t have any need to go down in social strata That is the problem. And (you know who you are) spent the last 15 years encouraging them to act this way.

wannabeBelle4 hours ago

I have said this for the longest time. They need to experience it as a regular person, paying out of pocket for stuff and see how things are on the ground. I think there is some combination of apathy and ignorance going on there. Marie

Sirwalterraleigh5 hours ago

…that’s why no one is there …too hot

TrainsOfDisney5 hours ago

He’d have to take the sweater off!

celluloid5 hours ago

In street clothes, not as many would recognize Bob Iger as people think. Bill Davis and Tom Williams used to walk Universal Studios Florida quite frequently in casuals.