U.S. Disney Parks See 5.5% International Visitor Drop, 1% Domestic Rise
Disney reported a 5.5% year-over-year decline in international visitors to its U.S. parks through October 2025, with Canadian visits down 22%. Domestic park attendance still rose 1% last quarter, prompting the company to pivot marketing and promotions toward U.S. consumers.
1. Leadership Transition and Board Changes
The Walt Disney Company’s board has unanimously appointed Josh D’Amaro, 54, as Chief Executive Officer effective March 18, 2026, concluding a nearly three-year search. D’Amaro, a 28-year veteran who has led Disney Experiences since 2020, will formally succeed Bob Iger, who returns to senior adviser until December 31, 2026, and remains on the board until year-end. In parallel, Dana Walden will assume a newly created President and Chief Creative Officer role, reporting directly to D’Amaro and overseeing global storytelling and creative strategy.
2. Details of the New CEO Compensation Package
SEC filings reveal D’Amaro’s total initial pay package of $38 million comprises a $2.5 million annual base salary, a one-time takeover bonus of $9.75 million, and long-term stock incentives valued at $26.2 million subject to multi-year performance targets. He is also eligible for an annual cash bonus equal to 250% of base salary upon meeting specified operational and financial goals. Walden’s contract extends through March 2030 and includes a $3.75 million base salary, a one-time award of $5.26 million, annual stock grants worth $15.75 million, and bonus opportunities up to 200% of base salary plus a performance-based hit series bonus.
3. Q1 Fiscal 2026 Financial Performance Highlights
In the first quarter, Disney reported consolidated revenue of $26.0 billion, up 5.0% year-over-year, yet total segment operating income declined 9% to $4.6 billion. Entertainment segment operating income plunged 35% to $1.1 billion, while Sports fell 23% to $191 million. The Experiences division—accounting for 38% of revenue and 72% of operating income—posted 6% revenue growth to $10.0 billion and 6% operating income growth to $3.3 billion. Management reaffirmed full-year guidance, anticipating margin expansion in the back half.
4. International Visitation Headwinds at Domestic Parks
Despite 1% attendance growth at U.S. parks, Disney cited weaker international visitation trends, aligning with broader U.S. travel data showing a 5.5% decline in overseas arrivals through October 2025. Canadian tourist visits fell 22%, with similar pullbacks from Germany, France and India. In response, Disney has reallocated marketing spend to domestic audiences to sustain occupancy and per-capita spending, leveraging strong leisure demand among U.S. consumers while monitoring global tourism recovery.