How Disney Really Makes Money: The Rides Beat the Movies 2 to 1

In fiscal 2025, Disney's Experiences segment (theme parks, resorts, cruises and consumer products) made $9.995 billion in segment operating income. Entertainment (movies, TV networks, Disney+ and Hulu) made $4.674 billion, and Sports (ESPN) made $2.882 billion. That puts parks and cruises at about 57% of Disney's $17.551 billion total segment operating income. Theme park admissions alone brought in $11.707 billion in revenue.

Sources:
The Walt Disney Company 10-K for fiscal 2025, year ended Sep 27, 2025 (segment revenues and segment operating income; Experiences operating results): https://www.sec.gov/Archives/edgar/data/1744489/000174448925000155/dis-20250927.htm

Narrated with an AI voice. Not financial advice.
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