The Walt Disney Company released its Q4 earnings report for 2020. The global pandemic has certainly taken a toll on many companies and even Disney faced new challenges. They’re reporting a financial loss for both their theme parks and studio entertainment. According to the report, the Disney Parks, Experiences and Products revenue is down $2.4 billion.
That loss is due in part to a number of parks, including the Disneyland Resort, remaining closed. Disney Parks, Experiences and Products revenues for the quarter decreased 61% to $2.6 billion, and segment operating results decreased $2.5 billion to a loss of $1.1 billion.
COVID-19 is the main cause of revenue loss. Because of the pandemic, Disneyland and Disney Cruise Line remain closed. Walt Disney World Resort, Shanghai Disney Resort, and Disneyland Paris have reopened and were open during the quarter. Hong Kong Disneyland Resort was open for about two weeks at the beginning of the quarter and about one week at the end of the quarter.
Even though some parks are open, they are operating at significantly lower capacities.
Disney estimates the total net adverse impact of COVID-19 on segment operating income in the quarter was approximately $2.4 billion. In total, the estimated net adverse impact of COVID-19 for the full-year segment operating income across all businesses is approximately $7.4 billion.
Let our friends at Destinations to Travel help you book your next Disney Vacation. They are the preferred Travel Agency of Chip and Company and Disney Addicts, and who we use ourselves.
Get started below for your FREE No Obligation Quote.
Book With our friends at Destinations to Travel
For the BEST in Disney, Universal, Dollywood, and SeaWorld Theme Park News, Entertainment, Merchandise & More follow us on, Facebook, Instagram, and Youtube. Don't forget to check out the Chip and Company Radio Network too!
