Walt Disney has closed a fiscal year in red for the first time in more than 40 years. Previous quarterly reports already reported billions in losses.
Bottom line, the American entertainment group was 2.8 billion short in the period up to October 3. A year earlier, a net profit of 10.4 billion dollars was recorded. Revenues for the full year fell 6 percent to around $ 65.4 billion.
The reduced income can partly be explained by the closure of theme parks and the consequent lack of income from the sale of merchandise. In addition, productions of films and television series were postponed, partly due to the worldwide closure of cinemas.
Disney itself decided not to broadcast the feature film version of Mulan in cinemas but on the Disney + streaming channel. Release dates for Marvel superhero Black Widow and Pixar animated film Soul have also been moved.
Disney already took a hard line at its American theme parks in September by laying off about 28,000 employees. These people were already temporarily at home because the parks had been closed for some time due to the corona crisis or hardly attracted visitors.
– .
