Disney theme parks are expected to reopen in June following an extended coronavirus shutdown that could have a lingering impact on attendance through 2021, according to a new analysts report.
An analysts report from J.P.Morgan estimates that the shuttering of all 12 Disney resorts around the globe amid the COVID-19 pandemic could cost the Disney Parks, Experiences and Products division $5 billion in lost revenue in fiscal year 2020.
“Near-term, COVID-19 concerns impact several segments of the business with the Parks most exposed given the potential for a large profit hit if domestic parks see a meaningful drop in attendance or if the parks close for a prolonged period given the high fixed costs structure of the business,” according to the J.P.Morgan analyst report.
