Disney parks could lose 100M visitors in two years

Report forecasts division may not be profitable until 2025

New York Weekend Edition /
Jul.July 26, 2020 09:00 AM
A recent Cowen and Company report projects a 47 percent drop in attendance at Disney-owned parks next year and a 35 percent drop the year after. (Getty)

A recent Cowen and Company report projects a 47 percent drop in attendance at Disney-owned parks next year and a 35 percent drop the year after. (Getty)

Attendance at Disney-owned parks could drop by nearly 100 million people over two years, a report by market analysts at Cowen and Company forecasts.

Cowen doesn’t expect the company’s theme park division to recover from the coronavirus pandemic and become profitable until 2025, according to the Los Angeles Daily News.

That annual loss in attendance amounts to a 47 percent decline in fiscal 2020 and 35 percent for 2021.
Not all analysts agree. Goldman Sachs expects attendance and revenue to bounce back by 2022 or 2023, according to the Daily News.

Disney reopened four theme parks earlier this month, but Disneyland in Anaheim remains closed. Unions representing employees fought to delay those openings.

The Florida parks opened with limited capacity and guests were required to have their temperature taken and to wear face coverings on park grounds. Orlando’s Disney World had about 10,000 guests on its first day open earlier this month, or roughly 17 percent of the park’s capacity, according to Florida Today.

The company reported a 10 percent year-over-year drop in second-quarter revenue, a roughly $1 billion decline. Disney’s four parks in Florida lost 18.6 million visitors in the roughly four months it was closed this year, while Disneyland and Disney California Adventure lost 10.2 million visitors during that time. [LADN] — Dennis Lynch


Related Articles

arrow_forward_ios
Gov. Andrew Cuomo (Getty, iStock)
New York will adopt CDC’s mask guidance: Cuomo
New York will adopt CDC’s mask guidance: Cuomo
U.S. President Joe Biden removes his mask before speaking about updated CDC mask guidance. (Getty)
In CDC we trust: Mask guidance prompts changes
In CDC we trust: Mask guidance prompts changes
Chime CEO Chris Britt and 101 California Street (Google Maps)
Fintech firm may sign biggest lease in San Fran of pandemic
Fintech firm may sign biggest lease in San Fran of pandemic
The parcel of land in Causeway Bay (Google Maps)
Hong Kong sells Causeway Bay site for $2.5B
Hong Kong sells Causeway Bay site for $2.5B
Gov. Andrew Cuomo (Getty, iStock)
New York’s rent relief site goes live — without applications
New York’s rent relief site goes live — without applications
President Joe Biden and New York State Senator Brian Kavanagh. (Getty, Department of Treasury)
Federal guidelines could complicate state’s rent relief rollout
Federal guidelines could complicate state’s rent relief rollout
The reopening of NYC has created a surge of demand for apartments. (Getty)
Reopening sparks signs of a real estate rush
Reopening sparks signs of a real estate rush
(iStock)
Canada’s surging housing market may be peaking
Canada’s surging housing market may be peaking
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...