LIKE OC, DISNEY SURVIVES RECESSION BECAUSE OF DIVERSITY, STRATEGIC PLANNING
Disney recently released their third quarter earnings, reporting net income up 11% over the same period last year. Disneyland Resort attendance and the company’s media networks were the primary reason for the increase; Disney CEO Bob Iger noted that the renovation and expansion of Disney’s California Adventure contributed to an increase in attendance.
This year the park launched World of Color, and more recently opened The Little Mermaid – Ariel’s Undersea Adventure, helping to draw in visitors and fuel record third quarter attendance at the resort. In the summer of 2012 the park will open Cars Land, marking the completion of California Adventure’s redesign. Disney’s diverse portfolio, long-term strategy and commitment to innovation mean the company can continue to grow and succeed in spite of the economic downturn. The resort area of Anaheim, anchored by the Disneyland Resort, accounts for 50% of the city’s tax revenue, and supports 160,000 tourism-related jobs. For more information contact Dr. Wallace Walrod, Vice President of Economic Development and Research.