The happiest place on earth, as of late has been empty and far from joyous.
In fact, Disney along with its parks, resorts, and cruise lines are in serious financial trouble.
Even Disney Plus, which has a record number of new subscribers is losing a Space Mountain size of money to cover production and start-up costs.
On Tuesday, Disney’s new chief executive, Bob Chapek, and Robert A. Iger, Disney’s executive chairman, will offer their first assessment of the damage. Disney is scheduled to report quarterly results after the stock market closes. Analysts are expecting per-share profit of 88 cents, down 45 percent.
The true scale of the pandemic’s impact on Disney will not be known until late summer, when Mr. Chapek reports results for the current quarter — the one in which Disney has furloughed an estimated 100,000 employees, slashed executive pay up to 50 percent and taken out a $5 billion line of credit to bolster its liquidity (on top of $8.25 billion secured in March). The Disney board must decide in June whether to pay the company’s usual summer dividend; management is unlikely to recommend it. May 04 – DNYUZ.com
So, what fate awaits Mickey and the crew at Disney?
As well, there are other companies like Six Flags and Universal that must also be suffering a similar pain.
If you are a journalist covering this topic – then let our experts help.
Dr. Martin Lewison is a professor in the Department of Business Management at Farmingdale. He’s also an expert and self-proclaimed junkie when it comes to rollercoasters and theme parks. He has ridden the rails of close to 2071 coasters in 37 countries. He is also a go-to source for national media on the subject. Dr. Lewison is available– simply click on his icon to arrange an interview.
Martin Lewison Professor, Business Management
Dr. Lewison is an amusement park junkie who has ridden more than 2,071 roller coasters in more than 37 countries.