Bernardo

Talking Theme Parks (especially if they are owned by a Mouse)

[Bernardo @Bernswss]

To all who come to this happy place, welcome.

See ya around!

[Bernardo @Bernswss]

@parcorama Absolutely!

[Bernardo @Bernswss]

@aalllllyyyyyy I would say it depends on the ride, if we’re going back to the original then then team copper, if it’s M2 style then team blue!

[Bernardo @Bernswss]

@Themountainkin1 Went to watch it yesterday here in Lisbon, having known little about the old movie and show I thought it was a pretty good time! Very funny

[Bernardo @Bernswss]

@Themountainkin1 The fact Jared Leto plays both Skeletor and the Hatbox Ghost made me chuckle a bit

[Bernardo @Bernswss]

@hd34240590 @_BEN_D_ @AmazonMGMStudio @SonyPicturesFr Oh so because they’re releasing the movie in less than 9 months on the platform they can’t put it in theatres?

[Bernardo @Bernswss]

@movieconomics Does Disney actually care about the deficit though? It prevents dividends, irrelevant when you own 100%. It creates a tax shield that's actively saving them tens of millions a year. And the resort is generating €430M+ annually regardless of what the cumulative number says.

[Bernardo @Bernswss]

@movieconomics You know better than most that attendance doesn't matter as much as it did to Disney, what they want is the biggest return on each guest and if you compare what guests used to spend 20 years ago vs today you'll see why. One guest today is worth two back then.

[Bernardo @Bernswss]

@movieconomics In the end it comes down to what I said:

[Bernardo @Bernswss]

@movieconomics I just don’t understand why you keep on trying to frame Disneyland Paris as a major failure when currently it’s 100% owned by Disney, investing billions in bettering itself and making money each year.

[Bernardo @Bernswss]

@movieconomics Fair point, but Disney injected capital into every resort during the pandemic, the entire Parks division posted a loss in FY2020. The difference is that French disclosure rules make the DLP injection visible while keeping WDW, SHDL, DLR hidden.

[Bernardo @Bernswss]

@movieconomics In fact, the FY2025 balance sheet shows EDA is actually lending €65M to Disney Enterprises Inc. through a revolving credit facility, not the other way around. The only debts EDA owes TWDC are €65M in normal trade payables for license fees and development costs.

[Bernardo @Bernswss]

@movieconomics You’re right, there’s no cash flow statement in comptes, but there doesn’t need to be. The resort has zero debt, it’s not borrowing, Disney injected €110M last year, the rest of the billion in construction spending had to come from somewhere, has to be the resort’s own revenue.

[Bernardo @Bernswss]

@movieconomics The accounts show €649M in construction costs funded by the resort’s own operations last year, against €110M in capital from Disney. That’s 85% self-funded. The internal balance sheet tracks cumulative capital, not that the resort didn’t make money to pay for its own expansion.

[Bernardo @Bernswss]

@movieconomics I just don’t understand why you keep on trying to frame Disneyland Paris as a major failure when currently it’s 100% owned by Disney, investing billions in bettering itself and making money each year.

[Bernardo @Bernswss]

@movieconomics Plus, the accumulated deficit works in Disney’s favour. The €3.3B in historical losses are a tax shield. The ‘deficit’ you frame as a the failure is literally saving Disney tens of millions a year in taxes…

[Bernardo @Bernswss]

@passwonderland Nice!

[Bernardo @Bernswss]

@Themountainkin1 @passwonderland And thank you! I love doing those investigation style videos haha

[Bernardo @Bernswss]

@Themountainkin1 @passwonderland They’ve been building the berms for a few years now, we see that yet another one is starting now.

The substation, like the berms, will serve the resort for decades to come and are both being created with the future in mind. I wouldn’t say it’s “nothing”, just nothing yet 😄