Disney Won't Let Galaxy's Edge Fail
There is plenty of real and anecdotal evidence suggesting that Star Wars: Galaxy's Edge is off to a less-than-rousing start at Disney's (NYSE: DIS) two domestic theme park resorts. The 14-acre expansion that opened at Disneyland in late May and at Disney World last month ahead of the Labor Day holiday weekend doesn't seem to be generating the same kind of attendance spike that folks were expecting.
Investors and theme-park buffs alike have been watching the situation closely since Disney revealed a surprising attendance decline during its fiscal third quarter that included the first five weeks of operations for Star Wars: Galaxy's Edge at the original Disneyland theme park in California. The nearly identical expansion at Disney's Hollywood Studios in Florida that launched in late August was supposed to go differently, but three months of lessons learned between the two openings have apparently not solved the problem. If folks aren't coming to the parks now when the economy's humming along for the most part, how many cobwebs will the turnstiles collect if recessionary fears play out that some economists see looming?
Disney's getting desperate, and it shows. Last week, Disney shuffled up the executive ranks at its theme parks division, a sign that all is not well in the House of Mouse.
Source Fool.com
