Shanghai Disneyland Breaks Even After 1 Year

Walt Disney’s ambitious $5.5 billion Shanghai theme park is close to breaking even after its first full year of operations—a mark none of its resorts was able to hit in the last 30 years, said Chief Executive Officer Bob Iger. “That’s an extraordinary achievement. I’m not sure we’ve ever done that,” said Iger in an interview with Bloomberg Television on Friday as the Shanghai Disney Resort celebrated its first anniversary. “After the first year, I’m pleased to say that prospects are really strong for continued success and continued growth. The park logged more than 11 million visitors earlier this week. The Shanghai development, Disney’s first in mainland China and its largest foreign investment, throws the Burbank, California-based giant into the race to dominate the country’s $204 billion media and entertainment industry. “In China, there’s potential for Disney to build a second park in the long run,” Iger said, adding that it would focus on the Shanghai resort first. A Toy Story-themed land opening is planned for next year.