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Euro Disney (Disneyland Paris) Loses Its Magic

#1 User is offline   BDANtheman29 

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Posted 28 November 2003 - 06:41 PM

From CNN.com...
Euro Disney loses its magic

PARIS, France --As Mickey Mouse gets ready to mark his 75th birthday, his parent company's European operations has put a dampener on the celebrations.

France's Euro Disney reported a 56 million euro ($66 million) annual net loss Monday for the year ending September 2003, up from 33 million euros ($38 million) the year before.

The theme park operator's loss was smaller than financial analysts' forecasts of 59 million euros, according to Reuters.

But its operating profit fell to 132 million euros ($155 million) from 175 million euros ($206 million) a year ago.

The company, which is 39 percent owned by The Walt Disney Company and 17 percent by the Saudi billionaire investor Prince Alwaleed, opened a second theme park outside Paris in March last year -- to complement the original opened in 1992.

But the combined business has been hit by weak economic growth in Europe and a drop in tourism.

The second park failed to meet visitor expectations, with overall visitor numbers falling from 13.1 million a year ago to 12.4 million.

The parent company's iconic symbol Mickey Mouse celebrates his 75th birthday Tuesday.

The character made his debut in the film Steamboat Willie in 1928. The cartoon helped launch The Walt Disney Company, now a multi-billion dollar global media company.

Find this article at:
http://www.cnn.com/2003/BUSINESS/11/17/eur...sney/index.html

:joker: Brendan :joker:
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#2 User is offline   QuickGold 

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Posted 29 November 2003 - 10:25 AM

Euro Disney has always been a dissapointment in terms of popularity and profitability.
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#3 User is offline   BDANtheman29 

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Posted 29 November 2003 - 10:31 AM

Though Matt is totally correct, I just don't understand how DLP can be failing. In the US, we have two major theme parks and you would think even that might be too much Disney in one country. Disney heading to Europe seemed to be a great move at the time, and you would think that people in Europe would want to experience the Disney magic.

:joker: Brendan :joker:
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