09 Feb 2018
Iger credits Disney IPs as popular brands drive profits in Q1 earnings
BY Tom Anstey
Disney chair and CEO Bob Iger has credited the operator’s significant investments in acquired IPs as the reason for impressive results in its first quarter.
The company’s parks division recorded revenues of US$5.2bn (€4.2bn, £3.7bn) and profits of US$1.35bn (€1.1bn, £964m) – increases of 13 per cent and 21 per cent respectively – driven by popular new attractions such as Pandora: The World of Avatar in Orlando’s Animal Kingdom, and the Guardians of the Galaxy ride at Disneyland California.
“Our parks continue to successfully leverage our incredible collection of IP to create and deliver an exceptional entertainment experience for millions of guests, as evidenced by their performance in Q1,” said Iger speaking during an earnings call.
“This success deepens our confidence in the significant investments we're making to grow the business around the world.”
Iger continued by showing that the company is not resting on its laurels, with further IP-led investments including three new cruise ships to expand the Disney fleet, Toy Story Lands in Shanghai and Orlando, Star Wars: Galaxy's Edge in Disneyland and Disney World, and the promise of further IP additions to Disneyland Paris.
“The investments we've made, in IP in addition to the numerous investments we've made across the world in our Parks and Resorts businesses, have driven dramatic growth over the last decade, and we're confident this trend will continue well into the future,” said Iger.
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