When are all these cutbacks not about COVID anymore?

[MAGICFLOP]

I am not so sure.. I am no way a financial wizard But, the article said to bolster liquidity.. and they are doing it with Moody's rating them A2, if they were truly no concern, then they would be Aaa, but A2 would be more a like a very small risk borrower.. If they need to bolster again before this is over, Moody's could put them to A3 or even Baa (truly speculation on my part)

I wrote this back in May and this is before I learned they lost 4.7 billion... Say what you want, but they are in financial hurt... not only is the park industry severely stressed, so is the movie industry.. the good news a solid revenue from streaming. The question is, will this break them? I doubt it, but some hands on the bridge have been handed buckets and told to start bailing..

 

[Mouse Trap]

In your heart of hearts, do you really believe that when attendance is back to normal, Disney is going to reinstate the things they've cut? A lot of what they are cutting, I truly believe will not be back. Do they need to adjust because the pandemic? Of course. But call it my gloom and doom side, I just see disney using this to cut costs, even when the need is over.

Plenty will come back, certain things won’t.

Special ticket events? For sure.
Shows? Some.
Fireworks? Yup.
Dessert parties? 100%

Anything that can directly be tied to more revenue is certainly coming back. I’m sure we’ll lose a few meet and greets and such though.

 

[erasure fan1]

Plenty will come back, certain things won’t.

Special ticket events? For sure.
Shows? Some.
Fireworks? Yup.
Dessert parties? 100%

Anything that can directly be tied to more revenue is certainly coming back. I’m sure we’ll lose a few meet and greets and such though.

That's my point. Sure Covid is the reason now. But when I say cutting cost, I am talking about the non up-charge stuff. They've been cutting a lot of it for years with no reason. Now they have the perfect reason.

 

[HauntedPirate]

Why do you need 9 butlers ?
One good one is enough

I like them to compete and show me who is best. It’s a win-win for me.

 

[King Racoon 77]

I like them to compete and show me who is best. It’s a win-win for me.

Maybe you could loan one to @LAKid53 she has been butlerless for too long .

 

[ImperfectPixie]

The part you missed is that the kids are so enthralled looking for him that the parental units get to enjoy F&W festival booth offerings without the kids complaining about the lines! You basically are buying half a date for yourselves. Minimal parenting needed. Living the Dream.

NAILED IT. Agent P's Adventure is good for this, too!

 

[OhioDuo]

I will not dispute that Disney is not raking in the piles of cash at its theme parks due to the pandemic. What bothers me and apparently many others is that Disney continues to charge premium prices for park admission despite a greatly limited park experience, park hours are limited, park hopping is not permitted and hotel room prices are some of the highest in the country. Disney parks literally minted money at will before the pandemic, and they did so for decades. When the parks fully reopen, I expect that ticket prices will once again move higher and higher every year. Disney is addicted to the cash and profits from its theme parks which historically increased every year for decades.

 

[ImperfectPixie]

Can you explain how "Disney is taking in piles of cash"
Then explain (and please show your proof) that they are operating at a huge profit currently.

Thanks

Re-read the post. The complaint is that they may not be raking in the dough now, but prior to the pandemic it was practically a mint, and that prices will continue to go up once the pandemic is over, regardless of the quality of experience.

 

[Go_Bears_80]

Chicken and egg, though. Attendance and guest spending would likely be higher if Disney was offering more for guests to do. I just cannot fathom going when the park closes at 6 p.m. each day, for example. I would imagine the Christmas party would have brought a lot of people in.

Stop me if I'm wrong, but Disney can't have full capacity right now, is that not correct? How can they encourage crowds they can't accommodate?

 

[Go_Bears_80]

Re-read the post. The complaint is that they may not be raking in the dough now, but prior to the pandemic it was practically a mint, and that prices will continue to go up once the pandemic is over, regardless of the quality of experience.

Disney didn't stuff that money in a mattress. They are making expensive films, building expensive new rides, building expensive new ships and more. Disney makes lots of money, but they spend lots too.

 

[ImperfectPixie]

Disney didn't stuff that money in a mattress. They are making expensive films, building expensive new rides, building expensive new ships and more. Disney makes lots of money, but they spend lots too.

I didn't say they didn't. I was clarifying the post I was referring to.

 

[King Racoon 77]

Re-read the post. The complaint is that they may not be raking in the dough now, but prior to the pandemic it was practically a mint, and that prices will continue to go up once the pandemic is over, regardless of the quality of experience.

My bad

 

[ImperfectPixie]

My bad

No worries...I read it wrong at first, too.

 

[juniorthomas]

They need to be cheap until attendance and spending returns to a respectable level.

Agreed. Cheap is much different from being realistic. Fewer tickets purchased means less money for park overhead and employees.

Simple math for any business: you don’t spend money you don’t have, unless you’re sure to recover it in the near future. The pandemic has locked in uncertainty, so TDO and TDA are doing the wise thing and cutting back until things look more clear.

Some reports are putting DisneyParks recovery- when everything returns to what we knew as “normal” at three years out. And that’s if nothing changes for the worse in the meantime. A lot of park improvements and experiences are either paused or cancelled because nobody had planned for the parks to be closed for a day, let alone months.

 

[JoeCamel]

Disney didn't stuff that money in a mattress. They are making expensive films, building expensive new rides, building expensive new ships and more. Disney makes lots of money, but they spend lots too.

Buying back stock, paying bonuses, increasing costs ........

 

[Cesar R M]

They need to be cheap until attendance and spending returns to a respectable level.

yeah, gotta protect those executive bonuses.

 

[OhioDuo]

Buying back stock, paying bonuses, increasing costs ........

I believe that the former CEO of Disney received about $650 Million in compensation in his last year before retirement. That says it all.

 

[disneysithlorderic]

No Christmas party, no snow, no Castle Lights, no Gingerbread houses at resorts....at what point does this not become about COVID and limiting crowds and about Disney becoming extremely cheap in everything that they do. Yes, precautions need to be taken, but its starting not to be about precautions. It's Disney beginning to use this as an excuse to cut every dollar imaginable. Its so sad....I love this place like home and it's turning into a penny pinching monster.

Well, honestly, it's been doing this gradually since Walt and Roy were no longer involved. If you've priced a 2021 trip recently with no dining plans available and none of the favorites being shown. It becomes clear not only does Disney not care about the opinion of the regular park attendees, but that there is no end in sight. My 2021 vacation will be at Castles. But in Ireland and Scotland. And flight included will cost about a grand less. Disney is stealing my childhood and it sucks... Be safe everyone

 

[disneysithlorderic]

Chicken and egg, though. Attendance and guest spending would likely be higher if Disney was offering more for guests to do. I just cannot fathom going when the park closes at 6 p.m. each day, for example. I would imagine the Christmas party would have brought a lot of people in.

I'm not paying 3k to do 50% of anything. Agreed

 

[Mr Starky]

No Christmas party, no snow, no Castle Lights, no Gingerbread houses at resorts....at what point does this not become about COVID and limiting crowds and about Disney becoming extremely cheap in everything that they do. Yes, precautions need to be taken, but its starting not to be about precautions. It's Disney beginning to use this as an excuse to cut every dollar imaginable. Its so sad....I love this place like home and it's turning into a penny pinching monster.

Like many, I attached so many GOOD feelings to WDW, for many years. I first went in 1976, for the Bicentennial. So as a young kid I took to that feeling of home. As with many things, life has changed. And with this, ALL things in America are connected with Politics, which of course, is based on Power/control dictated by Profit. It took some time for me. But so many still need to RETURN to reality. Let's all remember that WDW is FANTASY. A place to ESCAPE Reality. A break for the mind heart and soul. A pleasant pressure release. But Disney the Parks and CORP, are nowhere near being what Walt created and put his heart and soul into. And unfortunately, the head offices are filled, now, with people that are extremely corrupt and Anti American. Unfortunately. Many of you, are going to have to do, what I did some time ago. Reevaluate your love of Disney, and what it has now become. Which is anything but a Family orientated company. The FAMILY part of anything, comes from a Family.