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NEWS
Double digit growth for Disney as Shanghai boosts results for quarter
POSTED 10 May 2017 . BY Tom Anstey
Disney’s parks and resorts have enjoyed another strong quarter, with the company experiencing double digit growth in operating profits to US$750m (€689.5m, £579.2m).

The boost represented a 20 per cent increase on last year’s Q2 profits (US$624m, £481.9m, €574.1m), and has been attributed to the opening of Shanghai Disney Resort, which opened in Q3 2016.

Overall, Disney’s parks and resorts division recorded revenue for the quarter of US$4.3bn (€3.95bn, £3.3bn) – a 9 per cent increase on the same period for 2016 when it earned US$3.93bn (€3.6bn, £3bn).

In a trend impacting the whole of the attractions sector, the timing of the Easter holiday – which fell outside of the first three months of the year – had an effect on the quarterly the results.

Shanghai aside, operating income growth at Disney’s domestic parks also increased, with the results driven by increased attendance and spend on food and beverages (F&B), as well as increased income from Disney Springs.

However, revenue growth was knocked by higher labour costs, marketing expenses and unspecified efficiency initiatives.

“Our continued strong performance is a direct result of our proven strategic focus on great branded content, innovative technology and global growth,” said Disney chair and CEO, Bob Iger.

“We’re pleased with our results in Q2 and remain confident in our ability to continue to deliver significant shareholder value over the long term.”
RELATED STORIES
Disney 'Makeup Lamp' concept could revolutionise live performance


Disney’s research arm has unveiled a new technology concept capable of live dynamic augmentation onto human faces.
Disney increases investment in HK$10.9bn Hong Kong expansion following taxpayer complaints


Disney has addressed disgruntled taxpayers’ unhappiness over “unequal financing” in Hong Kong by injecting a further HK$350m (US$45m, €42.4m, £36.2m) into the company’s six-year, HK$10.9bn (US$1.4bn, €1.3bn, £1.1bn) facelift of its park, with the operator also promising to waive part of its management fees for the next two years.
Another VR breakthrough as Disney researchers integrate moving physical objects and virtual worlds


It might look like a man simply catching a tennis ball, but a new video from Disney Research shows much more than that.
Bob Iger extends Disney contract to 2019


After much speculation surrounding his future with the company, Bob Iger will extend his tenure as Disney chief executive until July 2019.
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Revealed: Opening date for Scotland's first design museum, created by Kengo Kuma
V&A Dundee, Scotland’s first design museum, will open to the public on Saturday 15 September 2018, it has been revealed.
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Danish architects COBE and Norwegian beer maker Lervig have unveiled plans for a major waterfront visitor centre and brewery in Stavanger, Norway.
Designs revealed for new aquatics centre on an artificial quay in Copenhagen’s harbour
Stunning designs have been revealed for Copenhagen's new Water Culture Centre, which will feature outdoor and indoor pools, waterfalls, harbour baths and sports facilities.
Bayeux Tapestry coming to Britain for first time in 950 years
The Bayeux Tapestry is set to be loaned to a British museum for the first time in nearly a millennium.
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AM2.jobs - Attractions Jobs & News
Attractions Management Magazine


CLICK HERE TO READ THE LATEST ISSUE ONLINE
 

Jobs . News . Products . Magazine  
Post your job online   Free sign up   Contact us
NEWS
Double digit growth for Disney as Shanghai boosts results for quarter
POSTED 10 May 2017 . BY Tom Anstey
Disney’s parks and resorts have enjoyed another strong quarter, with the company experiencing double digit growth in operating profits to US$750m (€689.5m, £579.2m).

The boost represented a 20 per cent increase on last year’s Q2 profits (US$624m, £481.9m, €574.1m), and has been attributed to the opening of Shanghai Disney Resort, which opened in Q3 2016.

Overall, Disney’s parks and resorts division recorded revenue for the quarter of US$4.3bn (€3.95bn, £3.3bn) – a 9 per cent increase on the same period for 2016 when it earned US$3.93bn (€3.6bn, £3bn).

In a trend impacting the whole of the attractions sector, the timing of the Easter holiday – which fell outside of the first three months of the year – had an effect on the quarterly the results.

Shanghai aside, operating income growth at Disney’s domestic parks also increased, with the results driven by increased attendance and spend on food and beverages (F&B), as well as increased income from Disney Springs.

However, revenue growth was knocked by higher labour costs, marketing expenses and unspecified efficiency initiatives.

“Our continued strong performance is a direct result of our proven strategic focus on great branded content, innovative technology and global growth,” said Disney chair and CEO, Bob Iger.

“We’re pleased with our results in Q2 and remain confident in our ability to continue to deliver significant shareholder value over the long term.”
RELATED STORIES
Disney 'Makeup Lamp' concept could revolutionise live performance


Disney’s research arm has unveiled a new technology concept capable of live dynamic augmentation onto human faces.
Disney increases investment in HK$10.9bn Hong Kong expansion following taxpayer complaints


Disney has addressed disgruntled taxpayers’ unhappiness over “unequal financing” in Hong Kong by injecting a further HK$350m (US$45m, €42.4m, £36.2m) into the company’s six-year, HK$10.9bn (US$1.4bn, €1.3bn, £1.1bn) facelift of its park, with the operator also promising to waive part of its management fees for the next two years.
Another VR breakthrough as Disney researchers integrate moving physical objects and virtual worlds


It might look like a man simply catching a tennis ball, but a new video from Disney Research shows much more than that.
Bob Iger extends Disney contract to 2019


After much speculation surrounding his future with the company, Bob Iger will extend his tenure as Disney chief executive until July 2019.
MORE NEWS
Revealed: Opening date for Scotland's first design museum, created by Kengo Kuma
V&A Dundee, Scotland’s first design museum, will open to the public on Saturday 15 September 2018, it has been revealed.
Norwegian brewery partners with COBE to create Stavanger waterfront attraction
Danish architects COBE and Norwegian beer maker Lervig have unveiled plans for a major waterfront visitor centre and brewery in Stavanger, Norway.
Designs revealed for new aquatics centre on an artificial quay in Copenhagen’s harbour
Stunning designs have been revealed for Copenhagen's new Water Culture Centre, which will feature outdoor and indoor pools, waterfalls, harbour baths and sports facilities.
Bayeux Tapestry coming to Britain for first time in 950 years
The Bayeux Tapestry is set to be loaned to a British museum for the first time in nearly a millennium.
More news>
LATEST JOBS
Casino Manager
Landers Recruitment
Salary: £30,000
Location: Manchester, United Kingdom
Director of Operations
WWT
Salary: £78,000 p.a.
Location: Slimbridge, Gloucestershire, United Kingdom
Head of Product Excellence
Legoland
Salary: Competitive
Location: Winter Haven, FL, United States
Customer Insights and Analytics Manager
Merlin Entertainments Group
Salary: Competitive
Location: New York, NY, United States
General Manager
Sea Life
Salary: Competitive
Location: Concord, NC, United States
Duty Manager
Madame Tussauds
Salary: Competitive
Location: Washington, DC, United States



 
 
ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
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NEWS
Double digit growth for Disney as Shanghai boosts results for quarter
POSTED 10 May 2017 . BY Tom Anstey
Disney’s parks and resorts have enjoyed another strong quarter, with the company experiencing double digit growth in operating profits to US$750m (€689.5m, £579.2m).

The boost represented a 20 per cent increase on last year’s Q2 profits (US$624m, £481.9m, €574.1m), and has been attributed to the opening of Shanghai Disney Resort, which opened in Q3 2016.

Overall, Disney’s parks and resorts division recorded revenue for the quarter of US$4.3bn (€3.95bn, £3.3bn) – a 9 per cent increase on the same period for 2016 when it earned US$3.93bn (€3.6bn, £3bn).

In a trend impacting the whole of the attractions sector, the timing of the Easter holiday – which fell outside of the first three months of the year – had an effect on the quarterly the results.

Shanghai aside, operating income growth at Disney’s domestic parks also increased, with the results driven by increased attendance and spend on food and beverages (F&B), as well as increased income from Disney Springs.

However, revenue growth was knocked by higher labour costs, marketing expenses and unspecified efficiency initiatives.

“Our continued strong performance is a direct result of our proven strategic focus on great branded content, innovative technology and global growth,” said Disney chair and CEO, Bob Iger.

“We’re pleased with our results in Q2 and remain confident in our ability to continue to deliver significant shareholder value over the long term.”
RELATED STORIES
Disney 'Makeup Lamp' concept could revolutionise live performance


Disney’s research arm has unveiled a new technology concept capable of live dynamic augmentation onto human faces.
Disney increases investment in HK$10.9bn Hong Kong expansion following taxpayer complaints


Disney has addressed disgruntled taxpayers’ unhappiness over “unequal financing” in Hong Kong by injecting a further HK$350m (US$45m, €42.4m, £36.2m) into the company’s six-year, HK$10.9bn (US$1.4bn, €1.3bn, £1.1bn) facelift of its park, with the operator also promising to waive part of its management fees for the next two years.
Another VR breakthrough as Disney researchers integrate moving physical objects and virtual worlds


It might look like a man simply catching a tennis ball, but a new video from Disney Research shows much more than that.
Bob Iger extends Disney contract to 2019


After much speculation surrounding his future with the company, Bob Iger will extend his tenure as Disney chief executive until July 2019.
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS