Today the Walt Disney Company revealed its quarterly monetary numbers and, most likely not shocking, it is not excellent news for Disney. With each motion pictures and theme parks shut down for the complete quarter (March-June 2020) the monetary loss has been in depth. For the Parks, Experiences, and Products division particularly, it was an particularly tough quarter. Revenue was down 85% and the drop in working earnings was roughly $3.5 billion
While the quantity is very large, it is not precisely shocking. The entirety of Disney’s theme park empire in addition to the cruise strains have been closed for principally the complete quarter, the parks in China and Hong Kong have been open for a part of the quarter. What cash the division did make most likely got here by way of on-line gross sales of client merchandise, as a result of there wasn’t anyplace else folks might spend cash with Disney in the event that they needed to.
Things will begin to get barely higher from right here. Most Disney Parks at the moment are open and whereas they’re seeing a restricted variety of company, we’re at some extent the place one thing is healthier than nothing. The one main exception is Disneyland Resort, which at this level continues to be closed, with no estimate as to when which may change.
The greatest query, nevertheless, is simply how rapidly issues will enhance. The reality is that proper now the parks which can be open can solely permit a restricted variety of company in safely, however even because the crowds are allowed to develop, it is unclear how many individuals will truly be prepared to go. If potential company are apprehensive about visiting the parks, we might see the parks develop again to the place they as soon as have been over the subsequent a number of months and even years.
More to return…