During an earnings call, Disney reported that Disney’s Parks, Experiences and Products have again returned to profitability. This was due to the combination of the entire unit and not just the parks alone. Revenue for the segment grew 308% to $4.3 billion.
The return to profitability came as all of the Disney Parks are once again open. Operating income reached $356 million for the quarter. This is a stark difference from one year ago when the same quarter had Disney losing $1.87 billion for the same quarter and segment.
The main driver for this profitability came from the growth of consumer products. This segment had an operating income of $564 million. Income was driven by merchandise that was based on Mickey and Minnie, Star Wars, Disney princesses, and also Spider-Man.
“We see strong demand for our parks continuing,” Disney CEO Bob Chapek said during the call.
The return to profitability is quite important to Disney. Prior to the pandemic, Disney Parks, Experiences and Products made up 37% of the company’s $69.6 billion total revenue in 2019.