On the theme park side of things, nobody’s as big as Disney. That’s also meant they’ve been hit the biggest due to coronavirus.
In addition to furloughing 43,000 workers at Disney World alone starting April 19, a J.P. Morgan report estimates that the shuttering of all 12 Disney resorts around the globe could cost the company $5 billion this year, according to the Orange County Register.
It also says, with parks expected to reopen in June following the extended coronavirus shutdown, that there could very likely be a lingering impact on attendance through 2021 – meaning less money and fewer jobs.
“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 report.