Dis­ney’s parks have strong quar­ter

CEO Iger: Star Wars lands will ‘have ab­so­lutely no prob­lem get­ting at­ten­tion’

South Florida Sun-Sentinel (Sunday) - - Money - By Gabrielle Rus­son Got a news tip? grus­[email protected]­lan­dosen­tinel.com or 407-420-5470; Twit­ter, @GabrielleRus­son

Don’t ex­pect Dis­ney to drop big money to ad­ver­tise the Star Wars lands open­ing this year in Cal­i­for­nia and Or­lando.

“Maybe I should just tweet — ‘It’s open!” and that will be enough,” Dis­ney CEO Bob Iger said Tues­day dur­ing an earn­ings call.

Iger spoke off the cuff in a few light-hearted mo­ments as Walt Dis­ney Com­pany’s theme parks per­formed strongly in an­other fi­nan­cial quar­ter.

“We’re go­ing to end up with in­cred­i­bly pop­u­lar and in-de­mand prod­ucts with these two new lands,” Iger went on about Star Wars: Galaxy’s Edge which de­buts this sum­mer in Cal­i­for­nia and late fall in Walt Dis­ney World’s Hol­ly­wood Stu­dios. “They’re large. They’re beau­ti­ful, and they’re ex­tremely in­no­va­tive. And they ob­vi­ously lever­age the pop­u­lar­ity of the Star Wars brand.”

“We’re go­ing to have ab­so­lutely no prob­lem get­ting at­ten­tion… It’s not go­ing to take much mar­ket­ing to do that.”

The costs for open­ing Star Wars: Galaxy’s End will be wrapped into the op­er­at­ing in­come and ex­pense bud­get lines at the parks, said Dis­ney chief fi­nan­cial of­fi­cer Chris­tine McCarthy dur­ing the call al­though she didn’t elab­o­rate on how much that be might be.

For the first quar­ter re­sults, rev­enue jumped 5 per­cent to $6.8 bil­lion in the theme parks, ex­pe­ri­ences and con­sumer prod­ucts di­vi­sion com­pared to the same quar­ter in 2017.

The growth in op­er­at­ing in­come was from higher ho­tel room oc­cu­pancy at Dis­ney re­sorts and guests spent more on food, bev­er­age and mer­chan­dise, the com­pany said. The aver­age cost for Dis­ney tick­ets and Dis­ney ho­tels rates also in­creased.

COUR­TESY OF WALT DIS­NEY COM­PANY

Dis­ney’s chief fi­nan­cial of­fi­cer said dur­ing a call that the costs for open­ing Star Wars: Galaxy’s End will be wrapped into the op­er­at­ing in­come and ex­pense bud­get lines at the parks.

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