Disney’s annual shareholders report reveals that the company lost a lot of money to the global pandemic.
The financial impact of the pandemic that we are still experiencing has been disastrous for many companies, both small and large, and although Disney be a mega company is not immune.
Disney has revealed that the losses from the Disney parks have been enormous. Although they continue to be successful in some areas, their amusement parks have suffered a loss of $ 6.9 billion since the start of the pandemic. To understand the magnitude of the matter, you have to know that it is more or less the money that was spent on buying Marvel Y LucasFilm, together. So it is terrifying to think of the hole that can cause them if everything is closed and people do not want to go to crowded places.
It’s not just theme parks that are losing out.
Disney has also lost a lot of money on its cruise ships, which have been idle for a long time. Without forgetting that they have barely raised something in the cinema, since Onward it only contributed $ 141 million which probably didn’t even cover your budget. While Mulan It is speculated that it raised about 200 million by adding the cinemas and streaming. In a normal 2020, counting on the Marvel premieres they would have reached 2000 million with little effort. So the drama continues.
But it’s not all bad news, since Disney + is a huge success and in its first year since it debuted in the United States, they have already amassed 73 million paying subscribers worldwide. So they will probably exploit that revenue stream more and it’s not out of the question that some of the big movies like Black widow or The Eternals come directly to the payment platform. There are many executives who are pushing for that to happen.
These are times of change in the way we understand cinema and at Disney they are very aware of this.