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Galaxy’s Edge Exists Due to Cord-Cutting?

Posted by Bret on 07/24/17 at 12:32 PM Category: Disney Parks
FastCompany.com analyzed a bit of data from Disney's financials that show revenue from media networks, (its largest segment and includes ABC, Disney, ESPN and other TV/Radio businesses) has leveled off over the past couple of years, dipping slightly in 2016 from 2015. Meanwhile, Disney Parks and Resorts, which is a distant second to its media networks division, actually increased revenue from 2015 to 2016 by almost 10%, and more than doubled since 2010.

"Cord cutting" is the term given to the pattern of media consumers dropping cable packages and subscriptions in favor of less expensive alternatives (usually via the internet) such as Netflix, Amazon, Hulu, etc. My esteemed colleague, Chris, had done this just last week after finding a 24/7 stream of Family Guy episodes on Youtube. Almost immediately, he discarded his television. I'd post a link to the Youtube stream, but unfortunately it was taken down due to copyright infringements. So the joke's on Chris when he reads this and realizes his egregious error. But I digress...

Cord cutting is responsible for a dip in TV revenue for traditional media outlets such as Disney. As such, they may see a rise in park revenue as an opportunity to substantially drive profits in the future by striking while the iron is hot. The success of Universal's Wizarding World of Harry Potter actually had a negative impact on Disney's bottom line. Despite a rise in revenues at parks, attributed to guest spending, actual attendance at North American parks was down 1% from 2015. This is attributed by some to the sharp competition from Universal's immersive Harry Potter experience. This, perhaps also fueled by the success of WestWorld (ironically on cable's HBO), is a signal to Disney that there is a huge opportunity for immersive resort experiences.

Now if only Disney owned a property that could potentially translate into something that might blow away those Hogwartsian kids with their talking hats and magic maps. Hmmm...

Cue the John Williams Star Wars Fanfare, and you have Disney's next big thing. So while ESPN is getting hammered, Red Squadron (led by YOU, the guest at Galaxy's Edge), can make your attack run. Disney senses something. A profit windfall they haven't sensed since...

Galaxy's Edge





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