Does Disney World need to cut back on Extra Magic Hours?

Extra Magic Hours have been a staple at Walt Disney World for about a decade now. Resort guests have been able to go into selected parks an hour before opening or stay three hours after normal closing time. But now it appears Disney is planning to cut back the evening magic from 3 hours to 2 hours starting in 2013.

Disney has changed its online explanation of the extra hours: “Each day, one of the 4 Walt Disney World theme parks opens one hour early or remains open up to 2 hours after regular closing time. Additionally, Disney Water Parks offer Extra Magic Hours during select times of year.”

The official Disney Parks Hours Calendar shows three-hour evening Extra Magic Hours until the end of the year, but the calendar does not list the Extra Magic Hours for 2013.

Now, we all know the economy is tough, but is this cut for hotel guests needed? Is the financial picture of the Walt Disney Company really that bad? I don't think so.

We know that Disney also has shelled out $3 billion in capital expenditures in 2011, including $2.3 billion toward the new Cars Land in the California Adventure and the Fantasyland expansion in Disney World.

Bur Disney is expected to post quarterly earnings of 93 cents a share on Aug. 7 when it reports on the quarter ended in June -- a 19% increase over the same period a year ago. Next year, analysts expect Disney to post earnings growth of 15%, according to Nasdaq.com.

Let's look at some other financial facts pointed out in an article by The Motley Fool:

Theme parks: The Magic Kingdom at Disney World is still the most visited theme park in the world with 17 million annual visitors. Nine Disney parks are in the top 25 theme parks visited in the world, and all of them saw an increase in attendance last year.

Movies: Disney movies are hitting phenomenal heights. "John Carter" may have been a flop in the U.S., but worldwide it brought in $210 million. At $1.45 billion, "The Avengers" is the third highest-grossing movie of all time.

TV: The television division has 100 international Disney Channels reaching 141 million subscribers. ESPN alone has distribution agreements with 47 international sports networks and reaches 200 countries and territories.

Purchases: Disney acquired Indian media conglomerate UTV Software Communications earlier this year. UTV owns six of the most popular entertainment, news and film channels in India, a country with four times the population of the United States and a burgeoning middle class.