They always have been about quarter over quarter revenue generation but they were better at hiding it. Another thing at least IMO is Iger and Burbank don't understand the parks.
I would say that in past decades, linear (cable TV) and the studios were FAR more successful at bringing in revenue. So many Disney moves were automatic 1 billion+ box office draws and cable affiliate checks and ad-sales dollars were flowing like Niagara falls into Disney.
The studios in the past 5 years are failing terribly and cable contracts are dying. Disney dumped an estimated 15 billion into Disney Plus and is only "now" beginning to make it's very first dollar in profit!! How many years will Disney need to recover and dig out of that initial 15 billion dollar hole? Then you have another 9+ billion spent to buy the remainder of HULU? Add that to the 15 billion of Disney +. Let's also not forget that 70+ billion spent (lost) on Fox And,...Disney took out billions on "survival" loans during the pandemic that they are servicing everyday to pay down?
Yes,...parks attendance is dropping. This is not "fan-hate-talk-rumors" this is "Burbank" admitting this several times publicly to investors and it's SEC filings! This is 100% FACT verified publicly by Burbank HQ. (No, Disney is not lying to us. Disney HATES admitting this)
If park guests are dropping, this means that Disney MUST raise ARPU (average revenue per user) on the guests that DO go. It's the ONLY way to recover the lost money from the people that are not going this year.
So far, the last quarterly says that Burbank's plan is working. Parks revenue with higher prices ARE keeping overall profit flat and holding.....FOR NOW.
Let's see how many quarters this continues to work. I suspect that in 2025, this business tactic will cave in. I think it will get them through the holidays this year but next spring and summer, these inflated prices will back-fire on Burbank.
1.) Attendance drops
2.) Raise prices to compensate.
3.) Attendance drops more.
4.) Raise prices even more to compensate.
5.) Wash, rinse and repeat.
I don't think this business model is sustainable. It's like the proverbial snake that is swallowing it's own tail. Sure, it can swallow itself for a little while,..but eventually it comes to an end where it just can't keep going.