Disney loses 2,424 million at the end of its fiscal year due to Covid-19

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Baby Yoda and Mando in The Mandalorian, the Star Wars series STAR WARS. 10/29/2020

American leisure and entertainment giant The Walt Disney Company posted net attributable losses of $ 2,864 million (€ 2,424 million) at the end of its fiscal year, compared to earnings of $ 11,054 million (€ 9,356 million). registered in the previous year as a consequence of the impact of the pandemic on its activity, according to the company.

The multinational’s ‘red numbers’ reflect the substantial adverse impact of Covid-19 on the company’s businesses most exposed to restrictions, such as amusement parks and cruise ships, as well as film premieres.

In this way, Disney’s income for the year as a whole registered a decline of 6% compared to the previous year, to 65,388 million dollars (55,347 million euros).

The turnover of the Disney parks business fell by 37% in the year, to 16,502 million dollars (13,967 million euros), while the income of the film studios business fell by 13%, to 9,636 million of dollars (8,156 million euros).

In contrast, the television channels division registered a 14% increase in its revenues, to 28,393 million dollars (24,036 million euros), while international operations and the subscription services business stood at 16,967 million dollars (14,361 million euros), 81% more.

In this sense, the multinational highlighted that by the first year of its entry into service, the Disney + platform had reached 73.7 million subscribers, to which it added another 10.3 million paid users of ESPN + and 36, 6 million Hulu subscribers.

Between July and September, Disney recorded losses of 710 million dollars (601 million euros), compared to the net attributable profit of 1,054 million dollars (892 million euros), while the turnover decreased 23%, to 14,707 million dollars (12,448 million euros).

© 2020 Europa Press.

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