Though screen-based entertainment is important for The Walt Disney Company, so is in-person interaction, CFO Hugh Johnston explained during a Q&A at the MoffettNathanson Media, Internet & Communications Conference.

Screens vs. Parks

Asked about how Disney is delivering successful live experiences in the parks and beyond in a screen-first, virtual, and growing AI world, Johnston acknowledged screens “are a great thing for The Walt Disney Company because obviously we’re a big player in screens and delivering entertainment through screens.”

“But it actually amplifies the value of real shared physical in-person experiences as well,” Johnston continued. “The ability for a family to come together and emotionally connect, for a group of friends to come together, and basically connect in terms of a set of physical experiences — that is becoming more and more valuable because people are spending less time day to day interacting with each other.”

Johnston said those in-person interactions “are even more critical and important” than they used to be and make the parks and cruise businesses “so much more valuable.”

“That’s why we’re investing so much in it,” he explained. “We’re going to be able to deliver terrific returns out of that set of assets over time because people do value that physical interaction.”

In 2024, Disney announced a 10-year $60 billion investment in Disney Experiences, which includes parks and Disney Cruise Line.

Domestic park attendance was down this most recent quarter, but revenue and operating income hit record highs for Q2.

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