Disney World increases capacity at its Orlando theme parks by 10 percent

The Walt Disney Company increased the capacity of its Orlando theme parks.

“We’re very pleased with how we’ve become adept at operating under these constraints,” said company CEO Bob Chapek during its earnings call on Thursday afternoon.

Chapek said the Orlando theme parks are now operating at 35% capacity, up from 25% capacity.

Disney reported its fourth-quarter revenue at $14.71 billion, which was down 23% from the same quarter the previous year. But it was still above analysts' expectations of about $14.2 billion.

The Parks and Experiences section of the business saw operating incomes down $2.4 billion for the quarter and $6.9 billion for the year.

“Even with the disruption caused by COVID-19, we’ve been able to effectively manage our businesses while also taking bold, deliberate steps to position our company for greater long-term growth,” Chapek said in a statement.

The company has blamed COVID-19 for the losses but also faults California’s government for keeping theme parks there closed.

Gains on the company’s new online subscription platform Disney+ were notable. One year after it launched, Disney+ now has 73.7 million subscribers compared to Hulu’s 36.6 million and ESPN+'s 10.3 million.

Cox Media Group