While Disney’s parks around the world have been reopening, including Disney World who has been welcoming guests back for nearly two months, Disneyland has still not set a reopening date.
However, even with many of the Disney Parks open, due to some major changes, including limited capacity, their financial numbers have also taken a different turn recently during the reopenings.
The limited capacity and attendance has played a large part in the Disney Parks’ operations. Deutsche Bank recently recognized that Universal Orlando has been bouncing back quicker than Disney World. The parks have experienced numerous shifts, like Florida residents making up 50% of the park visitors instead of the previous 20%.
However, the bank has also reported that 2021 will most likely be another “lost year” for Disney, according to the Orange County Register. After they lost nearly $10 billion in revenue from the closures in 2020, the Disney+ stock strength is still going as strong as ever. Still, Deutsche Bank analysts predict that “FY21 (beginning 10/1/20) will be another ‘lost year’” in the parks with signs that revenue won’t go back to the pre-pandemic levels until 2023.
In their report, they acknowledge that Disney likely won’t be seeing too drastic of improvements until there is a COVID-19 vaccine available. The report states that, “We think there’s upside to our forecast if an effective COVID vaccine becomes widely available during the next six months. We continue to believe that a widely available treatment and/or vaccine is required for a normalization to full earnings power at the parks.”
Still, there’s a light at the tunnel for the theme parks! Deutsche Bank has also forecasted that the Disney Parks will rebound by 2025 with a revenue that’s $10 billion higher than pre-pandemic levels. Currently, there’s been “incremental improvement” in the parks as “the recovery in theme park attendance is progressing, albeit gradually.”
As Disney Parks continue their reopening processes, we’ll make sure that you know all the details! And, if you have questions about how your next Disney vacation may change, we’re here to give you the answers you’re looking for!
Have you been back to the Disney Parks recently? Let us know in the comments below!
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