Disney parks revenue down USD2.6 billion

Walt Disney Co took another $2.6 billion hit to its finances in the last quarter due to the capacity limits at Orlando parks and the continued closure of Disneyland.

Revenues for the quarter are down 53%, temperred by increased cost savings and attendance at Florida parks which grew ‘significantly’ thanks to capacity caps being slightly eased.

Theme park capacity has now increased to 35% in Florida.

"We have ample demand for our parks," said CEO Bob Chapek.

Further capacity increases will likely be ‘determined by rate of vaccinations,’ he said.

Overall, the Disney Parks, Experiences and Products division made an operating loss of $119 million.

California’s Disneyland and Disney California Adventure have been closed since March 2020 and there is no timeline for reopening yet due to the state’s complex requirements tied to Covid infection rates.

Chapek said he expects face masks and social distancing at parks to continue until the end of the year even as more people get vaccinated

Visitors who have received the vaccine will still have to wear a face mask.

Written by Ray Montgomery, US Editor