food IS a theme park
Disneyland Resort is officially reopening TODAY, after a 13-month closure.
Sleeping Beauty Castle
The parks originally shuttered in March 2020, and while Disney World reopened that July, the California parks stayed closed. Closures like these — as well as the pandemic itself — have taken a massive toll on the tourism industry. And while things are slowly reopening, it appears that Disneyland will report an overall loss in revenue.
Economically speaking, it has been a challenging year for many people, including the Walt Disney Company.
©CNBC
With the theme parks closed for several months, the company took a hard hit financially, eventually resulting in the layoffs of thousands of employees and temporary pay cuts for Disney’s executives. We received more insight on how this affected the company later in 2020 when Disney reported a $2.8 billion loss for the year during their Q4 earnings call. Today we have more information about Disney’s financials for last year, including how much their top executives were actually paid.
The Walt Disney Company’s Q4 Earning Call is about to begin and the Full Year Earnings Report for Fiscal 2020 was just released.
©The Walt Disney Company
As a part of the report, Disney speaks to the effects of the global health crisis on the company this year and how it may affect the company next year. The company expects significant spending on safety measures into 2021.
It’s no surprise that the Disney company has had a hard year when it comes to the theme parks.
Magic Kingdom
Last month, we learned during the recent company earnings call that Disney had lost billions in revenue from the park closures earlier this year. Now, many of the parks are open again and Disney executives say that they are making a net positive contribution to the bottom line. But how long until Disney’s earnings are back where they used to be?
If you’ve been following the Disney news recently, you may know that Disney stock prices have been on a bit of a rollercoaster ride.
Walt Disney World
In the past few weeks, Disney stock prices have been surpassed by Netflix only to quickly bounce back with the announcement of Disney+’s success. Now, they’re falling once again as Disney contends with the potentially lengthy projected closure of its theme parks.
So is Disney defunct? Hardly. You probably don’t need to worry about those prices, and we’ll tell ya why. Read on!
If you are missing the Disney Parks while they’re closed, raise your hand high (both of ours are up in the air)!
Magic Kingdom
Since many of the parks are closed indefinitely, many federal guidelines have started to be implemented as a way for them to reopen. And, while there’s no certain timeline for when the Disney parks will be opening its gates (excluding Shanghai Disneyland) back up to guests, yesterday’s Walt Disney Company Fiscal Second Quarter 2020 Financial Results Conference Call gave us a few details about the state of the Walt Disney Company!
The Walt Disney Company held an earnings call today to discuss the results of its second fiscal quarter of 2020.
Magic Kingdom
In addition to addressing the financial effects of the temporary closure, Disney’s CEO, Bob Chapek, made several key announcements. Shanghai Disneyland will be officially re-opening May 11th and we finally know some of the safety measures Disney parks will be implementing when they re-open. But let’s take a look at what the Walt Disney Company had to say about their current finances as they work towards re-opening!
Earlier today, Disney executives spoke out on their financial status amidst the closures and answered questions regarding the future of the company.
©Disney Magic
CEO Bob Chapek and CFO Christine McCarthy announced Shanghai Disneyland will open later this month, but when asked about when Disney’s other experiences (like cruises) will resume, they were much less certain.
The Disney parks have been closed for over a month now. As experts attempt to predict a peak and path for the global health crisis, we’re starting to wonder what a reopening of the Disney parks might look like.
Standby Line For Rise of the Resistance
There are two MAJOR concerns when it comes to reopening the parks. The first is the safety of all guests, Cast Members, the surrounding communities, and beyond. On top of that, Disney’s financial situation has suffered considerably, so bringing money back in could be a driving factor surrounding when and how Disney can reopen.
With the parks around the world being closed and the Disney Cruise Line canceling sailings, Disney is dealing with a completely unprecedented financial situation.
Disney+ Streaming Service ©Disney
Although Disney has seen increases in Disney+ and Hulu’s target enterprise values, there’s still a BIG possibility that the closures could change the company as we know it. And the Walt Disney Company is trying to prepare for its financial future.
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