The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on April 22, 2020, 03:24:01 pm
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Financial analyst: Disney properties won't reopen until 2021
By Marty Johnson - 04/22/20 11:02 AM EDT
A report by a top financial analyst published Monday predicts that Disney parks won't be able to open until January 2021 due to the coronavirus pandemic.
"We believe Parks' profitability will be impaired for a longer period of time given the lingering effects of the outbreak and now assume an opening date of Jan. 1 as our base case," John Hodulik, managing director of investment research at UBS, wrote in his report, according to USA Today.
"That said, the economic recession plus the need for social distancing, new health precautions, the lack of travel and crowd aversion are likely to make this business less profitable until there is a widely-available vaccine," he added.
Disney, which is expected to release its quarterly report in May, said in March that Walt Disney World in Orlando and Disneyland in Anaheim, Ca. would be closed until further notice.
more
https://thehill.com/policy/finance/economy/494082-financial-analyst-disney-properties-wont-reopen-until-2021
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Haven't seen a P & L statement on Disney, but with revenues of a new network, yielding the benefits of "stay at home", plus residuals on streaming, DVD's, merchandise, etc.....
There are lot more companies I feel sorry for than them.....Like Oil Exporation companies as an example.
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I was thinking today that the "coronavirus effect" might end all spectator sports until late spring/early summer 2021 at the earliest.
No baseball, no football, no basketball, no soccer, no nuthin'.
Few -- including the managers who run such large arenas and venues -- are going to feel secure enough to open them to throngs of people until there is a proven vaccine available (and that will include additional time until a sizable portion of the population has had time to take it), or the "viral numbers" of new infections drop to nearly zero.
I suppose it might be possible to hold games in empty stadiums, telecast to viewers. Won't be nearly the same, and even the players might object to being in close quarters with others. How are you gonna make football a "non-contact" sport?
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I would bet dollars to donuts that if Disney opened back up tomorrow and required visitors to sign a liability waiver while still charging their outrageous fees that the parks would be packed every stinking day. When it comes to Disneyland people have less rational thought than a horny man at a strip club.
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I was thinking today that the "coronavirus effect" might end all spectator sports until late spring/early summer 2021 at the earliest.
No baseball, no football, no basketball, no soccer, no nuthin'.
Few -- including the managers who run such large arenas and venues -- are going to feel secure enough to open them to throngs of people until there is a proven vaccine available (and that will include additional time until a sizable portion of the population has had time to take it), or the "viral numbers" of new infections drop to nearly zero.
I suppose it might be possible to hold games in empty stadiums, telecast to viewers. Won't be nearly the same, and even the players might object to being in close quarters with others. How are you gonna make football a "non-contact" sport?
Cases will track down to zero before that happens. That's on pace to happen some time this summer.
The NFL is going full steam ahead. That should tell you how much confidence they have that this won't be an issue come autumn.