Disney takes $1.4 billion coronavirus hit, sets date to reopen Shanghai park

) estimated on Tuesday that global measures to contain the coronavirus pandemic cut profits by $1.4 billion, mostly from its shuttered theme parks, but said it would reopen Shanghai Disneyland to a reduced number of visitors next week.

The Chinese government has asked Disney to cap attendance at 30% of capacity, or roughly 24,000 people, Chapek said. Disney will restart operations with “far below” that number for a few weeks while it adjusts to new safeguards including social distancing, masks and temperature screenings, he said. By mid-March, all of the company’s theme parks were closed, movie theaters went dark, and television and film production were put on hold. Plus, Disney’s ESPN sports network was left with no major live sports to broadcast.

It has taken steps to cut costs, including putting 120,000 employees on furlough, according a filing with securities regulators. One area gaining as audiences shelter at home is Disney+, the streaming service the company launched in November. Disney+ had 54.5 million paying subscribers as of May 4, up from 50 million on April 8.

Die for the love of Disney!

They aren't hurting.

Oh boohoo .. They giant conglomerate that pretends to create magic for families but really exploits near slave labor conditions is going to lose money..

RichPeoplesProblems

Good enough for them, they have poisoned the minds of children DarkToLight WWG1WGAWORLDWIDE

Billionaire Blues.

They make that off churros in one day. 🙄

Cause is 'cover up'. 12.12 first case reported in wuhan (possibly earlier), 12.30 li wenliang blew whistle, 1.3 was sealed, 1.20 declare 'human-2-human'. Concealing human-2-human for 21 days. Circulating in wuhan for 39 days. How many people are infected?

Who cares Disney is one of the cause of brain damage on this planet.

They have enough to eat, stop covering stuff that doesn't matter

You should gain through ott platform aggressively.. this time you have massive opportunity like many others

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