Walt Disney World is billed as the “most magical place on Earth,” but based on a growing amount of evidence, it seems like fewer people are spending this summer soaking up the fairy dust. And for all the talk about its parent company’s fight with Florida Gov. Ron DeSantis, it’s pretty clear that the park’s problems run deeper than a political beef.
Disney execs warned earlier in the year that they expected earnings at their US theme parks to be down this year, but according to a report from the Wall Street Journal, the drop-off may be worse than feared. According to data from Touring Plans, a company that tracks major amusement parks, the average wait time for a ride in the flagship Magic Kingdom park on the July 4 holiday was 27 minutes, down 13% from 2022 (31 minutes) and 43% below pre-pandemic levels in 2019 (47 minutes). It was also the third-slowest day in the last year at Hollywood Studios, despite the park being home to the uber-popular Star Wars attractions. Disney-focused blogs have also been tracking the foot traffic decline for months, posting pictures of near-empty parks and nonexistent lines during major holiday weekends.
Disney’s revenue from parks, experiences, and products was up 17% in the second quarter of this year, according to its most recent earnings report. However, that increase was credited to growth at Shanghai Disney Resort, Disneyland Paris, and Hong Kong Disneyland Resort.
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