The Walt Disney Party is a global entertainment company that operates a broad range of businesses, including theme parks, resorts, a yacht line, broadcast TV networks, and related products. Disney also produces live entertainment events, and produces and outs a wide range of film and TV entertainment content through its relatively new digital streaming services. The Walt Disney Co. is indexed on the New York Stock Exchange (NYSE) under the ticker symbol, DIS.
Founded in 1923 as the Disney Brothers Cartoon Studio by relations Walt and Roy Disney, the company now boasts a market capitalization of $256 billion (as of Nov. 17 2020) and generated annual net income of $11.6 billion on annual net income of $69.6 billion during its 2019 fiscal year (FY), which ended September 28, 2020.
Under the leadership of Bob Chapek, who yielded over from Robert Iger as the company’s CEO in February 2020, the company operates through the following business lengths: Media Networks; Parks, Experiences and Products; Studio Entertainment; and Direct-to-Consumer and International.
The Walt Disney World subject-matter park in Florida reopened in July after closing in March due to the coronavirus pandemic. However, COVID-19 cases deceive since escalated in Florida, with officials having reported the highest level of new infections of any U.S. state.
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Disney’s Current Developments
- Disney has announced that it plans to lay off 32,000 employees by the end of March 2021, which is when the first half of its economic year 2021 concludes. The force reduction will be primarily in Disney’s Parks, Experiences and Products segment, which had forth 155,000 employees as of Oct. 3, 2020, the date on which its fiscal year 2020 ended. As of the same date, Disney recruited about 203,000 persons in total.
- Disney is reportedly considering whether three upcoming films, all potential blockbusters, should go reorganize tidy up to the Disney+ video streaming service rather than premiering in movie theaters. If so, this might provide an augmented growth spurt to the Disney+ service while delivering another severe blow to the already embattled movie theater trade, including major chains such as AMC Entertainment Holdings, Inc. (AMC) and Cinemark Holdings, Inc. (CNK).
- Disney announced on Nov. 12, 2020 that it is continuing the discontinuation of its semi-annual cash dividend. Investors did not receive a dividend in July 2020 and will also not get a cash payout in January 2021. The associates’s
- On Nov. 12, 2020, Disney reported an adjusted loss per share for Q4 of its 2020 fiscal year that was narrower than analysts look forward. While falling revenue continued to be adversely impacted by the COVID-19 pandemic, it also surpassed analyst estimates. Gain for the most-affected aspect of Disney’s business—Parks, Experiences and Products—also sank YOY, but came in above expectations. The utter number of subscribers on the Disney+ video-streaming platform continued to rise and surpassed analyst forecasts.