Disney's Theme Park Revenue and the Annual Report

Caroline Reid at Forbes has some interesting news about Disney. Disney's Theme Park Claims In Doubt As Summer Season Revenue Repeatedly Hits Year-Long Low

Doubt has been cast on the accuracy of Disney’s documents after it emerged that the revenue of its theme parks division hit the lowest level of the year during the summer season for the past two years running despite claims in its filings that it generally increases in that period.

The discovery came to light through analysis of Disney’s results for the three months to September 27, 2025 which were announced on Thursday last week. Disney's shares crashed 7.8% after it reported revenue of $22.5 billion for the quarter, missing analysts' expectations of $22.8 billion and coming in roughly comparable with the prior-year period. It was driven by continued declines in Disney's linear TV business, offset by strength in streaming and theme parks which sit in its Experiences segment.

This is in relation to the filings with the Securities and Exchange Commission. So if there are issues, it can't be shrugged off.

The revenue of Disney’s domestic Parks & Experiences still fell by 8.5% quarter-on-quarter over the three months to September 27, 2025, hitting the lowest level of the year.

Click thru for the details. (While there is a paywall, Forbes gives you either 3 or 4 free articles.

Hat tip to WDW Pro and the video Disney World in DEEP TROUBLE with US Government?! Forbes SLAMS Iger and Crew for Dubious Reporting!. The video is almost 20 minutes, so if you are going to check it out you should plan accordingly.