Adam Maguire

I should say it also includes retail, so Disney shops and consumer products, which is the merchandising.

And last year, they actually, their year, their business year runs up to the end of September 2035.

You can see the company as a whole had revenues of just over $94.4 billion.

Huge money.

So within that, sports had revenues of 17.7, so that's the smallest segment.

Entertainment took in $42.5 billion and then experiences had $36.1 billion.

So from that alone, you can see how big experiences is, although it looks like the movie business is bigger and it is in terms of revenue.

But when you look at the profits, you see the total operating profit last year was $17.5 billion.

Again, huge money.

Sports made up $2.9 billion of that.

Entertainment made just under $4.7 billion.

And then experiences accounted for almost 10 billion.

Oh, that's some profit margin.

So yeah, massive profit margin.

It's more than double the next nearest segment.

In fact, you know, experiences makes up 57% of Disney's total profits.

Now, I did mention consumer products as part of that segment.

But even when you take that section out, so that represents about $2.18 billion of profit.

So even when you take that away, experiences is still the biggest profit maker for Disney.

And when you see that, you realise that the movies and TV shows are important in their own right, but really they function as a kind of a flag and a hook to get consumers into the Disney brand to convince them then to go along to Disneyland.