Disney’s fourth quarter earnings are posted today, and that means we were able to hear some of the top executives during another earnings call!
During the call, we heard updates on Disney parks revenue, growth in Disney + subscribers, growth in theme park attendance, and guest response to Disney Genie + (the new way to “jump the line” at popular attractions). And, in the questions and answers part of the call, We’ve also had an insight into how Disney can look to further reduce costs, as inflation remains a growing concern in the U.S.
Disney Chief Financial Officer Christine McCarthy was asked how the Walt Disney Company plans to mitigate inflation in the coming months and years. And in response, McCarthy shared an insight into what options the company is looking for.
More specifically, McCarthy said, “There are a lot of things that are worth talking about. We can adjust suppliers. We can substitute products. We can cut the portion size which is probably good for some people’s waist. We can look at the prices when necessary. We will not go directly and increase prices. “
Plus, he shared it Disney wants to “get the algorithm right cut where we can and not necessarily do things the same way ”. So far, this has included “producing technology for [reduce] part of the operating cost “.
This is happening as many guests have been criticizing Disney for raising many costs in parks and resorts and at the same time bringing operations to their pre-pandemic levels.
So far, Disney has not shared that any of these cost-cutting methods have been implemented in parks, but we’ll be waiting for more updates. And in the meantime, be sure to stay tuned to AllEars for the latest Disney news and updates!
Check out Disney’s approach for upcoming theatrical releases HERE!
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