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Disney Suffer $1.4b Hit!

Disney Suffer $1.4b Hit!

Walt Disney Co is one of the most well known companies in the world. Having hundreds of thousands of shows streamed on Sky and now having there own streaming platform, however they also have some parks around the US, mainly the one in Florida. The great theme park was getting loads of profits and more. This park was bringing in so much money for the company and now, due to the lockdown measures and the virus still at its peak, the park had to close to stop the virus from spreading around everyone, the US are still going through the peak time, since they have nearly got 1,000,000 active cases (965,087).

Due to these parks being shut, Disney Co have lost over $1.4b in profits within the first three months. This is due to the park being closed, all the movies they had planned being cancelled and the reduction in advertising sales. Every part of this business is being effected by the coronavirus, nearly wiping out the profits by a quarter. Even though this is happening, the firm are planning on opening the Shanghi Park on the 11th May. This will require a health check every time someone enters the park, meaning health measures will be in place, meaning protective masks and temperature checks everytime.

“We are seeing encouraging signs of gradual return to some semblance of normalcy in China, While it’s too early to predict when we’ll be able to begin resuming all of our operations, we are evaluating a number of different scenarios to ensure a cautious, sensible and deliberate approach to the eventual reopening of our parks.” said the chief executive Bob Chapek

Editorial credit: Swedishnomad.com – Alex W / Shutterstock.com

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