Disney Parks Could See $21 Billion Loss Through 2022, According to Analysts
When can we return to our favorite Disney park? That seems to be the million-dollar question. Or should we say the 21 billion dollar question? According to analysts, that is how much Disney stands to lose through 2022. All 12 of Disneys theme parks are currently closed due to the current COVID-19 pandemic.
According to a report from research firm MoffetNathanson, it does not look good for the house of mouse in the near future. “We believe that investors are underestimating the lagging recovery nature of Disneys theme parks,” according to the MoffetNathanson report. MoffettNathanson assumed that the Disney parks would only be closed for a month when the parks closed back in March. However, due to the current situation, They are now assuming that the parks will now open July 1st.
The report assumes that attendance in the parks will drop to 50 % through the end of 2020. It should go up to 75 % in 2021 and then hopefully 90% by 2022. Discount ticket prices intended to help drive attendance after the coronavirus closures could cut into Disney theme park profits through 2021, according to the report. The analysts assume that Disney will make a considerable rebound after 2022 and return to beyond peak attendance, assuming we get through this current situation.
With that all being said, if the parks open tomorrow, How long will it take for you to go back to your favorite Disney park?
Source: Orange County Register