Disney domination: What's making the company money
JACKSONVILLE, Fla. – If you were hoping crowds would die down at Disney's theme parks-- you will be waiting a little bit longer.
Attendance increased one percent at U.S. parks.
Disney recently issued its financial report card for the third quarter and as it turns out, more visitors went to the entertainment giant's theme parks, they bought more food and merchandise while there, boosting the company's earnings.
Disney reported $15.23 billion in revenue this quarter. It says the increase was driven by guest spending amid an increase in ticket prices and hotel rates.
Occupancy for the company's hotels was down due to decreased inventory and refurbishments.
As for new releases, Disney's films are have been big at the box office. Disney said "Avengers: Infinity War" and "Incredibles 2" both crossed the billion dollar mark.
ESPN is still the weakest link at Disney. It launched an ESPN+ streaming service earlier this year, but has yet to provide details about its earnings.
The earnings report also comes after Disney and 21st Century Fox announced that shareholders approved a $71 billion deal.
Disney's latest venture is another streaming service expected to launch by the end of 2019.
Copyright 2018 by WJXT News4Jax - All rights reserved.