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Politics 28000 Layoffs coming to Disney's domestic theme parks - statement from Josh D'Amaro
- Thread starter DCBaker
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This thread contains political discussion related to the original thread topic
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Not recently, but we used to visit every couple weeks or so. My wife and I were annual-pass holders for years, but we let them expire this summer since Covid hit. We really don't have any interest in going to the parks right now, and even before Covid we were debating whether the increased cost of passes is worth it. The Covid situation just made the decision much easier for us.
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MarvelCharacterNerd
Well-Known Member
It's all just so. damn. sad.
I have no words. Just sorrow and sympathy for what the parks and the people have lost.
I have no words. Just sorrow and sympathy for what the parks and the people have lost.
culturenthrills
Well-Known Member
It's amazing how Universal has managed to figure out a way to do their entertainment and even add additional characters to places they weren't before while Disney has just slashed and burned their entire entertainment department. Without streetmosphere and other entertainment the parks are just a shell of what they once are.
Gringrinngghost
Well-Known Member
There are a few things to note. Universal is still in the hole by millions of dollars, and their parent is a lot better off than Disney when you look at Disney's income pipeline vs Comcast. Plus Comcast saved many billions of dollars not buying fox. Secondly, Universal is still laying people off as well, and are preparing for another batch if the rumors over there have it. Lastly, Universal doesn't care, and they will have the blessing from the State since they hosted all of Desantis' meetings and pressers on the park.
How much did Comcast save by buying Sky?
Comcast has about $25B in cash. And $125B in debt (thanks to Sky).
Disney has about $30B in cash. And $80 in debt (thanks to Fox).
And given: the several rounds of layoffs that Uni already went through (including their imagineers), the one year (at least) delay of Epic Universe, and the huge park discounts to attract guests... it's pretty clear that Comcast ain't showering Uni with cash to tide it over.
It's only a matter of time that Uni has similar cuts in entertainment. Their park division is similarly hobbled as Disney's with their inability to open up their California park.
Gringrinngghost
Well-Known Member
Comcast bought Sky for 39B, which is nearly half that of what Disney paid for Fox. Additionally, Comcast is still able to make an income from their utility business whereas Disney’s main income is their media (television) business.
LSLS
Well-Known Member
I admittedly have very little understanding of the workings of management in the park. However, if this was a year ago, I can guarantee chapek would be taking the majority of the blame while being in the same position as Josh.
gerarar
Premium Member
Weren’t they rehearsing Indy for a resumption soon? At least that’s what I remember reading a couple weeks ago from some posters here..
The fact that I saw most of these shows and the talented CMs that play the roles everyday not so longer ago last December is very heartbreaking. My parents especially loved seeing all the various shows and entertainments since they’re not much rides people (anymore). There is a place for these type of shows/entertainment at WDW.
I also asked a current schoolmate of mine since she was a CP last fall, and asked her about some things and she said she knows/has many friends that have been affected. Please keep everyone in your thoughts, this is a very rough time....just no words really....
Like Green Army Men....really?! They add a lot of value and atmosphere to Toy Story Land, just unbelievable really..
The fact that I saw most of these shows and the talented CMs that play the roles everyday not so longer ago last December is very heartbreaking. My parents especially loved seeing all the various shows and entertainments since they’re not much rides people (anymore). There is a place for these type of shows/entertainment at WDW.
I also asked a current schoolmate of mine since she was a CP last fall, and asked her about some things and she said she knows/has many friends that have been affected. Please keep everyone in your thoughts, this is a very rough time....just no words really....
Like Green Army Men....really?! They add a lot of value and atmosphere to Toy Story Land, just unbelievable really..
Disney started testing the waters immediately after 9/11/01 when park attendance took a dive. Shortened park hours, staggard hours and days of operations of dining areas, live shows. Some examples are
Epcot World Showcase opening time moved from 9am to 11am
Fantasmic show operating 3-4 nights a week
Not all dining areas open in theme parks operating 7 days a week
MaximumEd
Well-Known Member
On one side you have Disney saying they can’t run all these expensive shows until they have enough paying customers in the door. On the other side you have a lot of paying customers saying they won’t come back to the parks until they offer more entertainment. Who blinks first? I’m afraid I already know the answer.
so they're going for the "make the cast members the entertainment" approach ? We all know how well that worked for GE.
You are ignoring the fact that Comcast paid Disney 19 billion for their portion of Sky plus Disney got another 5 billion for the RSNs. So Disney paid about 47 billion for what they got and Comcast paid 39 billion for what they got, both not including assumed debt.
The big difference iui s 38 billion of Disney's purchase price was in stock while none of Comcast was in stock. Therefore, on tge profit and loss side of the equation Disney hss less debt and more assets for what they ended up with and that is why their balance sheet is better off.
Looking forward, I. would take Disney's worldwide streaming services over Comcast's Us cable operations and Europe's Sky business. Asia is the future and since India alone ha a bigger population than the US and Europe combined show Rupert Murdoch's foresight was a genius. All Disney has to do is not blow it. Covid19 stinks and is delaying things a bit but Disney's plus will be profitable in 2021 and provide over 7.2 billion in revenue. Add in ESPN+, Hulu and Hotstar and it's possible they could have more streaming revenue than Netflix in 2021.
DVCakaCarlF
Well-Known Member
Meaning more to come?
DVCakaCarlF
Well-Known Member
Until an 80s/90s era Eisner shows up at the CEO role, it’s only going to get worse.
When Disney as one example has to lower their 2021 one-day park ticket to $109 per day from the current $120 per day, it's not rocket science to realize parks are having fewer offerings.
Ruining the magic is if Disney goes to pay to use toilets similar to what some European city centers still have.