Feb 10, 2022
Disney park trips surge after Covid measures eased
Disney says trips to its US theme parks have surged, while subscriptions to its streaming service beat expectations. Its latest film Encanto has been hugely popular, with one of its songs We Don't Talk About Bruno making it to number one in the UK top 40 - the first original Disney song to do so. In contrast, sales at Disney's US amusement parks hit a record in the last three months of 2021.Overall, the company's revenues rose by 34% year-on-year to $21.8bn for the quarter, while profits surged to $1.1bn.Sophie Lund-Yates, equity analyst at Hargreaves Lansdown, said Disney's parks were "Doing much better than feared, despite ongoing Covid fears". "Getting customers through the gates is one thing, but being able to sell them mountains of branded food, toys and gifts is what truly makes Disney a remarkable business," she added. "It's impossible not to be impressed by recent growth in Disney's streaming subscriptions. However, the market cares a great deal about the streaming business, and churning out the levels of growth expected is only going to become a more difficult task."If you didn't get a Disney+ subscription while trying to home-school in lockdowns, chances are you may never get one.
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