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Friday, July 31, 2009

Park attendance up

According to CNBC article, attendance at the domestic Disney parks increased by three percent, beating analysts' expectations. The biggest factor leading to the increase in attendance was Disney's "Buy 4, get 3 free" deal offered in the spring.

However, the news is not all good. Even with the increased attendance, total revenue at the parks was down nine percent and operating income down 19-percent. Even this loss is better than expected, according to the article, because in the prior quarter, park operating revenue was down about 50-percent.

Disney CEO Bob Iger said Disney's latest numbers are a sign that the economy is stabilizing.

Let's hope so.

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