food IS a theme park
Disney, like many other companies, has had a tumultuous year due to the global health crisis.
Bob Chapek
With the closure and phased reopening of Disney theme parks around the world, the continued limbo when it comes to the still-closed Disneyland, the controversy around Disney’s biggest movie release, and many more effects of the global health crisis; the Walt Disney Company earnings results for 2020 could be surprising.
Today, Disney hosted an invitation-only virtual press conference to “update on how we’re making magic while we continue to promote health and safety.” We were invited to attend the conference.
Disneyland Gate
Disney executives took today’s conference as an opportunity to give an update on the parks that have reopened and to call on California’s governor for guidance when it comes to the reopening of Disneyland. They assert that the longer Disneyland remains closed, the greater the repercussions are for the surrounding communities.
It’s no surprise that the Disney company has had a hard year when it comes to the theme parks.
Magic Kingdom
Last month, we learned during the recent company earnings call that Disney had lost billions in revenue from the park closures earlier this year. Now, many of the parks are open again and Disney executives say that they are making a net positive contribution to the bottom line. But how long until Disney’s earnings are back where they used to be?
Various aspects of The Walt Disney Company were and continue to be impacted by the global pandemic.
Magic Kingdom
Now, we’re hearing about one change that affected Disney and Fox Corporation executives directly that has already or will soon be going away.
Disney has been pretty tight-lipped when it comes to how they’ve been dealing with their financial stability during these uncertain times.
Magic Kingdom
Due to the ongoing global health crisis causing disruption to almost every segment of the Walt Disney Company, their unique situation could be seen by the casual observer as precarious at best.
After releasing a statement about racial disparities on May 31st, The Walt Disney Company and many of its subsidiaries have taken a stand against racism via a widespread social media campaign.
Across the company, instagram streams including @disney, @pixar, @disneyanimation, @waltdisneyimagineering, @waltdisneyarchives, and more posted a straightforward message against racism, while other subsidiaries posted similar sentiments targeted to their unique audiences.
In response to recent events, the Walt Disney Company has released a statement addressing their approach and stance on “issues of racial disparity.”
Walt Disney Company Logo
Today, Walt Disney Company chairman Bob Iger tweeted about the statement, noting it was endorsed by himself, Disney CEO Bob Chapek, and Chief Diversity Officer Latondra Newton.
Earlier this month, The Walt Disney Company announced a wave of leadership shifts.
Disney Springs
These changes included appointing new park presidents for both Disney World and Disneyland, naming Josh D’Amaro the Chairman of Disney Parks, Experiences, and Products, and shifting Rebecca Campbell into the role of Chairman for the Direct-To Consumer sector. And now, Disney announced a change to its financial leadership.
Disney news is showing no signs of slowing down! These days we’re seeing major updates and stories drop almost on a daily basis, and we’re keeping up with all of it so you can stay informed!
Disney Springs
Let’s review this week’s news, from Orlando to Hong Kong!
We reported yesterday that The Walt Disney Company shifted around their executives to form a new leadership team.
@joshdamaro on Instagram
This change-up moved Josh D’Amaro to the Chairman of Disney Parks, Experiences, and Products, and named new presidents for both Disney World and Disneyland. Former Disneyland President, Rebecca Campbell, is stepping into the role of Chairman for the Direct-To Consumer sector and analysts shared their concerns with this recent change.
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