Due to the ongoing coronavirus pandemic, Disney Parks may wait until January 2021 to reopen to the public. Since mid-March, a number of businesses have taken to temporarily closing up shop as the coronavirus has rapidly spread across the globe. Among these closures were schools, restaurants, some offices, and even movie theaters. Alongside the latter, the entertainment industry, in general, has taken a massive hit from these closures, with a number of upcoming films either delaying their releases or heading straight to digital.
With people being encouraged to stay home and practice social distancing to help "flatten the curve", theme parks, conventions, and festivals have also taken to closing down, canceling, and postponing their events. In regard to theme parks, Disney Parks, in particular, had announced around the middle of March that they would be closing down Disneyland and Disney's California Adventure due to the virus until the end of the month. Unfortunately, the outbreak has lasted far longer than many expected, and Disney Parks is now in the process of thinking about their long-term plan.
According to the LA Times, UBS told clients on Monday that the "Walt Disney Co. is likely to wait until Jan. 1 to open its theme parks," adding in that they predict "the Burbank media company will see only about 50% of 2019 attendance" once they reopen as well. Their report went on to explain that they "now believe the lingering effects of the outbreak — including crowd avoidance, new health precautions, etc. — will dramatically reduce the profitability of these businesses even after they are reopened until a vaccine is widely available." Not to mention, the implementation of stay-at-home orders "by state and local governments will dictate when parks can consider reopening."
The Walt Disney Company also plans on having more safety precautions put in place once parks officially reopen. Walt Disney's former CEO, Bob Iger, revealed that some of these preventative measures could include limiting their park's capacity, sanitizing rides along with putting in more sanitizing stations, mandatory masks, and temperature screenings at security checkpoints. On top of that, they also have to figure out how to encourage individuals to come back to their parks once they're able to reopen. Considering the long-lasting effects the pandemic will have on social gatherings and public health in general, it could be a while before park-goers jump back into these attractions.
The coronavirus outbreak has also had a massive economic impact on these businesses. Since closing its U.S. parks, the Walt Disney Company is losing an estimated $20 million a day. It's clear that the Mouse House has taken quite a hit because of the closures, especially coupled with their delayed theatrical releases. However, putting public health first and closing their doors was the right move to make. Even though park-goers may not be able to go back to Disney Parks until next year, it's all for the betterment of the public and making sure that they reopen at the best possible time for all.
Source: LA Times