Despite the current trade war and a recent adjustment (read: decrease) of its Shanghai park's ticket prices, Disney CEO Bob Iger states the company "still believe[s] very, very, very bullishly in not only the business that
[they] built, but the business that [they] can continue to invest in.”
During a call to discuss financial results for the fourth fiscal quarter, Walt Disney Company CEO Bob Iger said the company took action to offset the effects of “softness in the tourism market” at Shanghai Disney Resort.
“We basically put in place some discounting, some lower pricing to continue to drive attendance during what we saw as somewhat of a downturn,” he said in response to an analyst’s question. “But we didn’t necessarily think it was permanent.”
He said the company subsequently scaled back on discounts, to good results.
“I think what we’re seeing in China is maybe a slight reduction in consumer confidence, and that’s having an impact on the business somewhat,” Iger said. “But we still believe very, very, very bullishly in not only the business that we built, but the business that we can continue to invest in.”
The company already added a new Toy Story Land earlier this year at the Shanghai park, which opened in mid-2016. Iger said there are plans for additional attractions and hotels eventually.
“We still feel great about that market for our theme park business,” Iger said.
During a call to discuss financial results for the fourth fiscal quarter, Walt Disney Company CEO Bob Iger said the company took action to offset the effects of “softness in the tourism market” at Shanghai Disney Resort.
“We basically put in place some discounting, some lower pricing to continue to drive attendance during what we saw as somewhat of a downturn,” he said in response to an analyst’s question. “But we didn’t necessarily think it was permanent.”
He said the company subsequently scaled back on discounts, to good results.
“I think what we’re seeing in China is maybe a slight reduction in consumer confidence, and that’s having an impact on the business somewhat,” Iger said. “But we still believe very, very, very bullishly in not only the business that we built, but the business that we can continue to invest in.”
The company already added a new Toy Story Land earlier this year at the Shanghai park, which opened in mid-2016. Iger said there are plans for additional attractions and hotels eventually.
“We still feel great about that market for our theme park business,” Iger said.
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