Disney’s revenue from park closure
Disney missed revenue worth $2.6 billion from operating profit for the first quarter of 2021 as the theme parks are closed and/or operating at limited capacity.
The company’s quarterly revenue fell to $16.25 billion, compared to $20.888 billion 12 months ago. However, analyst estimates were higher than $15.933 billion.
The company’s theme parks in California, Paris and Hong Kong remained closed, while others remained open with a limit on the number of guests. Disney’s film studios have restrained many releases as most of theatres remained closed.
Despite struggling to maintain revenue levels, Disney managed to put its customers into streaming services.
“We believe that the strategic actions we are taking to transform our company will drive our growth and increase shareholder value, as demonstrated by the incredible advances we have made in the DTC business. At the end of the quarter,” Chapeck said.
The Disney Plus service was launched in late 2019 and went from strength to strength, combining robust investment with the richness of the company’s original content.
