Disney Genie Plus, Lightning Lane and advance reservation requirements continue to pay off for Disney's theme parks, as the company today reported another big quarter of profits, driven by higher theme park attendance and guest spending.
Disney's theme parks segment reported $7.4 billion in revenue in the final quarter of its 2022 fiscal year, up 36% from the same period one year ago. For the 12-month period ending October 1, the Disney Parks, Experiences and Products segment reported $28.7 billion in revenue, up 73% over 2021.
Segment operating income rose by nearly $900 million from the fourth quarter of 2021 to $1.5 billion for the same period this year, with operating income up nearly $7.5 billion to a total of $7.9 billion for the fiscal year.
"Our Parks, Experiences and Products segment had another stellar quarter, with DPEP operating income in the fourth quarter more than doubling versus the prior year, to $1.5 billion," Chief Financial Officer Christine McCarthy said. "Our domestic parks delivered significant year-over-year revenue and operating income growth, despite an adverse impact of approximately $65 million to segment operating income from Hurricane Ian. Per capita spending remained strong, increasing 6% versus Q4 of fiscal 2021 and nearly 40% versus fiscal 2019, reflecting the continued popularity of premium offerings including [Disney] Genie Plus and Lightning Lane.
"We are also making meaningful progress on the return of international visitors to our domestic parks, particularly at Walt Disney World, where the mix of international attendance in the fourth quarter was roughly in line with pre-pandemic levels.
"Looking towards fiscal 2023, while we continue to monitor our booking trends for any macro economic impacts, we are still seeing robust demand at our domestic parks and are anticipating a strong holiday season in Q1."
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