(Yicai Global) Aug. 10 -- The Shanghai Disneyland Park has attracted more than 13 million visitors since it opened in June last year, and it is set to record a profit for its first fiscal year, Walt Disney Co. (China) said.
Globally, the revenue of Walt Disney’s [NYSE:DIS] parks and resorts grew 12 percent in the third quarter, and their operating profit rose 18 percent, the multinational entertainment conglomerate said in its latest quarterly report on Tuesday.
The company derived most of its worldwide business growth from Disneyland parks in Shanghai and Paris, said Chief Financial Officer Christine McCarthy. The company is satisfied with the performance of Shanghai Disneyland, which is expected to turn a reasonable profit in its first fiscal year, she said.
The Shanghai park brought in 10 million visitors, per Disney numbers published on June 16, the park’s one-year anniversary. Some 3 million more have gone to the park since then.
Disney plans to expand the Shanghai park to push guests stay longer and to boost customer spending by scaling up its performance and hospitalities businesses and by building extensions.
If the park manages to make ends meet by the end of September, it will be the first theme park of its size to do so in its first fiscal year.