Disney is reportedly considering keeping their theme parks and resorts, such as Disneyland in Anaheim and Disney World in Orlando, closed until at least the beginning of the new year due to the coronavirus pandemic. Disney parks remain indefinitely closed at the moment.
According to the Los Angeles Times (via ScreenRant), the global financial advisory firm UBS informed their clients Monday that the “Walt Disney Co. is likely to wait until Jan. 1 to open its theme parks.”
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And once they do, UBS predicts that Disney “will see only about 50% of 2019 attendance” and that they can expect reduced profitability until there’s a vaccine for the coronavirus. Disney’s stock dropped earlier this week following a downgrade from UBS.
Disney Executive Chairman Bob Iger recently said Disney parks and resorts will implement new screening measures and health precautions once they reopen, including possibly taking visitors’ temperatures, in order to ensure employee and customer safety.
Disney is reportedly losing upwards of $30 million a day as a large swath of their businesses remain closed, a downturn in the media giant’s fortunes that has seen their rival Netflix become more valuable than them.
As for Disney films, the company recently announced a slate of new release dates for their movies postponed due to COVID-19, and have pivoted to releasing some of their titles, like Onward, earlier than expected on VOD. The studio also scrapped plans to release Artemis Fowl theatrically, opting to debut the film on Disney+ instead on June 12.