DIS - Disney's Zootopia opens in Shanghai Disneyland

2023-12-20 16:16:08 ET

The Walt Disney Company ( NYSE: DIS ) opened the world's first Zootopia-themed park in Shanghai Disneyland on Wednesday with the grand opening attended by Disney CEO Bob Iger and Josh D'Amaro, chairman of Disney Parks, Experiences, and Products.

The Zootopia theme park, the eighth park to open in Shanghai Disneyland, was based on the Disney movie of the same name which was the highest-grossing animated movie in China. A sequel to the Zootopia animated movie is reportedly on the docket for a 2028 release. The original, which followed the exploits in an eponymously-named mammal metropolis, grossed $235.6M in China and $1.025B worldwide.

Among the five entities within the Disney corporation, Parks, Experiences, and Products remains the second-largest revenue generating segment of the Disney company with sales of $8.2B in the latest quarter , taking second place to the $9.5B Entertainment division.

"Parks and Experiences overall remains a growth story, and we are managing our portfolio exceptionally well," Iger said on an investor call in Nov, adding that revenue has grown 25% from the prior year's quarter and the company's return on invested capital has "nearly doubled" in domestic parks.

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