It’s no secret that the Disney company is one of the most successful businesses in the world. From owning companies such as Pixar, ESPN, Marvel Studios, 20th Century Studios and many more, Disney has made its name known. During early March, the Disney Company announced its theme parks in Orlando and California will be closed for two weeks due to the coronavirus pandemic. This would be the longest time both resorts will be shut down for a long period of time. In addition, Disney also cancelled their numerous internship opportunities such as the Disney College Program, their Culinary Program and their International College Program.
At the moment, the Disney resorts in all locations are still closed. Many reports have been made that it will reopen in June, but in the meantime, a big portion of the company is on pause. Not only has Disney closed its theme parks and cruise lines, but has also postponed the releases of several films, including Black Widow and Mulan, leading to massive drops in revenue as the coronavirus pandemic continues to spread. For the first time in forever, Disney’s business is in jeopardy (pun intended). According to media industry analyst, Hal Voge, Disney is losing roughly $30 million a day amid the coronavirus pandemic, The New York Times reported. Even Disney’s new streaming service, Disney+, which is perfect for those staying inside, is financially struggling due to the lack of new content, as all entertainment productions have come to a standstill.
Although Disney is said to reopen its theme parks in June, it will not be remotely the same as before. Fewer restaurants and quick service options will be available to guests, not as many rides will be open and of course, character meet and greets will be limited. When speaking with The New York Times, Bob Iger, the former CEO of The Walt Disney Company, did confirm that the coronavirus will deeply change Disney. Eventually, they will hire fewer employees and figure out how to plan safe gatherings for mass groups of people in an efficient matter. After the announcement of the closure of the theme parks, Iger has returned as Disney’s “executive chairman” to help the company during the global pandemic, while current CEO Bob Chapek will keep his title.
Disney’s brand is creating happiness. By having so much entertainment limited in theme parks all over the world, it is possible Disney will be struggling for a large amount of time post-quarantine. Many people, including myself, are anticipating the reopening of Disney World after it is safe to do so. The magic of the Disney company is unlike no other. No matter how long it will take, I firmly believe Disney will bounce back and continue making memories for families all over the world.
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