Domestic Theme Parks Hit by Attendance Slump

Disappointing Q2 Earnings Signal Potential Decline in 2024

Domestic theme parks, including Disney, have reported uninspiring earnings for the second quarter of 2023. Industry experts predict that spending on these parks will remain flat or slightly decline in 2024, with a possible increase being unlikely. This projection is based on the 2022-2026 Global Theme and Amusement Park Outlook Report, which forecasts that global theme parks will experience a 4% growth rate over the next five years.

Walt Disney World Boasts Strong Attendance

In contrast to the overall industry trend, Walt Disney World has seen a surge in attendance, surpassing pre-pandemic levels. However, this growth may not be enough to offset the decline at other domestic parks.

The industry faces challenges such as rising costs, increased competition from streaming services, and changing consumer preferences. As a result, domestic theme parks may need to rethink their strategies to attract and retain visitors.