Shanghai Disney Financial Loss And Expansion
Shanghai Disney first quarter attendance was a success!
Disney CEO Bob Iger announced earlier this month that the newest Disney theme park destination resort, Shanghai Disney Resort, entertained 4 million guests in its first operating quarter. Those figures bode well both for Disney and for the industry in general in mainland China.
It was by no means a sure thing that Chinese theme park goers would accept the $56 single-day admission price or take to the Disney themed park. However, acclaimed signature rides like Tron and Pirates of the Caribbean have drawn in guests, and visitor numbers for the whole year look set to hit the 10 million mark which would place Shanghai Disney in the top 10 most visited theme parks in the world. Disney are cautious in their estimates, but there is some speculation that numbers could get up to 15 million
“It’s something only Disney could do,” says Dennis Speigel, president of International Theme Park Services. “It’s an enormous amount of money, but they spent the money correctly. … I’d be surprised if they don’t hit 15 million-plus in the first year.”
Although the park just opened, Shanghai Disneyland has recently broken ground on a new expansion. Construction of Toy Story Land, the park’s seventh themed area. While the new attraction is expected to open in 2018.
The resort is currently loosing money, but it’s expected to move towards breaking even in the second year of operation. The benefits for Disney go beyond the direct theme park audience though, as a successful Disney Resort preps the Chinese market for other Disney offerings. A new report predicts that China’s theme park revenue will surpass the United States’ within a few years.
For more information, visit the official Shanghai Disney Resort website by clicking here.
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