4.3 • 847 Ratings
🗓️ 25 May 2023
⏱️ 29 minutes
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0:00.0 | Hi, I'm Missa Kwonger. |
0:01.7 | And I'm Ryan Hunt. |
0:02.3 | And we co-host, Stadio, a football podcast, on the Ring of Podcast Network. |
0:06.7 | If you like soccer or football, make sure you search for Stadio, a football podcast on Spotify or wherever you get your podcasts. |
0:17.3 | It is Thursday, May 25th. |
0:19.9 | Memorial Day weekend, the official start of summer. |
0:22.6 | For many people, myself included, that probably means a trip to a theme park or two. |
0:26.9 | Since the parks reopened after the COVID shutdowns, attendance has been booming. |
0:31.7 | Disney this past quarter reported $2.2 billion in profit from the parks, up 20% from last year. That includes the Florida and |
0:39.8 | Anaheim resorts, plus Paris, Tokyo, Hong Kong, and Shanghai. Bob Iger, the Disney CEO, is |
0:45.8 | counting on the park's revenue to fund the company's transition from linear TV to streaming, |
0:50.8 | which, as we know, is very costly and at least so far, not a very good business. |
0:55.6 | But despite a bunch of new revenue drivers at the parks, like the Genie Plus app and across-the-board |
1:00.9 | price increases, I call it price gouging, but I'm not writing the Disney press releases. |
1:05.6 | There's been some weaknesses. |
1:07.4 | Park's profit actually came in below analyst estimates at the end of last year, and both inflation |
1:12.6 | and the teetering U.S. economy have worried Disney investors, especially since before the |
1:17.0 | pandemic, the Parks Division generated as much as 45% of the company's overall profit. |
1:22.3 | That's a lot. |
1:23.4 | Just last week, Disney closed down or announced it was going to close down, the Galactic Star Cruiser, a very ambitious and very pricey Star Wars luxury hotel. |
1:32.4 | I never went. |
1:33.3 | Probably wouldn't pay a lot for that experience in a hotel. |
... |
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