We all need positive news right now after the events of 2020 so far but unfortunately The OC Register have recently reported that analysts from Deutsche Bank predict that 2021 will be another “lost year” for Disney theme parks after they are expecting to see a massive $9.8 billion decline in revenue from the Disney Parks, Experiences and Products division during the 2020 fiscal year.
Since Walt Disney World reopened back on July 11, attendance has been slower than expected but is gradually increasing. The key reasons for this are likely due to the high numbers of reported COVID-19 cases in Florida as well as mandatory mask wearing and the cancelling of parades, fireworks and character meet and greets. The summer would also usually be the time when Walt Disney World would see an influx of international travellers and the locals would tend to stay away to avoid the heat. It was, however, very positive for Disney to see elevated attendance during the recent Labor Day weekend.
The analysts currently predict that we are unlikely to see pre COVID-19 revenue from Disney theme parks until 2023. If an effective vaccine is established in the next six months which can be widely distributed then they suggest it may be brought forward to 2022. However, it is not all doom and gloom for Disney though, as they forecast that by 2025 there will be up to a $10 billion increase in revenue for Disney Parks, Experiences and Products division compared to pre COVID-19.
Our thoughts
Okay, I can hear what you are saying. Firstly, this is just one view and indeed it is. Secondly, for those readers who hate speculation and have got this far in the article, probably best to divert to our news or features page for a different article right now.
Thirdly and I guess the thing which is most prevalent for all Disney fans right now is the uncertainty of it all. That is one of the major problems when it comes to theme parks and especially when it comes to Disney. Don’t misunderstand me, uncertainty sums up life in general at the moment and for many people theme parks will be the last thing on their minds.
For those people who are looking to theme parks as an escapism and a form of enjoyment at this time, be it in visiting or in reading about them, to many the main question in your minds will likely be, when will Walt Disney World, Disneyland as well as all other Disney theme parks across the world be able to be Disney again?
Since Walt Disney World was able to reopen its gates back in July, after being closed for almost three months, for many guests the parks have been a positive experience with good health and safety measures and a lot fewer crowds. For many others though the loss of parades, fireworks, character meet and greets and mandatory mask wearing has ruined the Disney experience.
With any Disney visit the whole point is to be able to truly escape from the real world, to be able to really switch off from life’s stresses and strains and to just have fun with family and friends. When mask wearing is no longer needed, parades, character meet and greets and fireworks are back and prices are still hopefully at an affordable level it will be back to being the Disney we all love.
From reading this report and seeing forecasted 2025 revenues, it is naturally worrying to think that this will be all be achieved by price hikes but we have got to stay optimistic that Disney will not let its fans down. At the end of the day it is a business which aims to make as much money as possible but we have to have faith that Disney will get its magic back and things will look brighter very soon.
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