The Walt Disney Company’s Parks and Resorts division has reported a nine per cent increase in revenues during the second quarter of 2017, due primarily to the opening of Shanghai Disney Resort last year.
According to the group, revenues for the three months to April 1 totalled $4.3bn, compared with $3.9bn in the prior-year period. Operating income growth increased by 20 per cent to $750m.
“Operating income growth for the quarter was due to the opening of Shanghai Disney Resort in the third quarter of the prior year and an increase at our domestic parks and resorts,” Disney said.
Opened in June 2016, Shanghai Disney is the first Disney park in mainland China. The resort features Shanghai Disneyland Park, an entertainment district, two themed hotels, recreational facilities, a lake and associated parking and transportation hubs.
Additional phases will see the development of two additional theme parks at the resort.
Discussing the company’s second quarter results, Disney chairman and CEO Robert Iger said: “Our continued strong performance is a direct result of our proven strategic focus on great branded content, innovative technology and global growth.”