Disney theme park attendance in US jumps despite decline in international tourism

The Walt Disney Co. cautioned earlier this year that its theme parks division would likely see modest growth due in part to declining tourism from abroad - (Walt Disney World Resort via Get)

Disney reported a solid third quarter, driven by the global success of Toy Story 5 which grossed $1 billion at the box office and robust performance from its U.S. theme parks.

The Experiences division, encompassing global theme parks, cruises, and merchandise, saw operating income rise 20% to $3.02 billion, with domestic parks experiencing a 27% increase in operating income, despite a 13% decline for international parks.

Overall attendance at U.S. parks climbed 3% from a year ago on an increase in attendance from domestic tourists and annual passholders. The company said the performance was also helped by summer promotions and new experiences being offered at the parks.

The company announced a new global short-form content sharing deal with TikTok, integrating Disney-focused fan-created content into the Disney+ app, and is selling its 50% stake in A+E Global Media to Hearst for $1.2 billion.

Streaming services, including Disney+ and Hulu, saw revenue climb 11% to $5.53 billion, attributed to subscriber growth, price increases, and higher advertising revenue, as Disney continues its shift towards streaming entertainment.