Wednesday, May 6, 2020

Disney Experiments on Its Customers in China

Disney said it will begin a phased reopening of its Shanghai theme park next week, a move that comes at the same time the company reported significant losses due to the closure of its parks world-wide.
Why is this happening? Greed.
Disney saw total operating income drop 37 percent to $2.4 billion in the quarter ending March 31. Parks and cruises had profit go from $1.5 billion in the quarter last year to $639 million this year, with a loss of about $1 billion in revenue. ... Those reduced numbers were cushioned by the fact that much of the quarter played out before the crisis hit in the United States, and many analysts and investors believe the worst is yet to come.

The quarter included only a few weeks of the park shutdowns in the United States. And team sports, on which Disney cable network ESPN heavily relies, were not suspended until about the same time.
The snark almost writes itself.

1 comment:

  1. The Waltsdeadnow corps (the Rat) should die. And stay dead for 70 years plus the lifespan of Walter.

    ReplyDelete

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