Disney to start reopening its Florida theme parks with Magic Kingdom, Animal Kingdom on July 11
Disney said Wednesday it has proposed a phased reopening of its Florida-based theme parks in July. Walt Disney World's Magic Kingdom and Animal Kingdom are expected to be the first to reopen on July 11. He did say the company would adhere to the CDC's 6 foot social distancing guidelines when limiting attendance. Disney's Florida parks will have additional hand washing stations, temperature checks and social distancing measures throughout, including at restaurants and lines for rides. Contactless payments via Apple Pay, Google Pay and Disney Magic Bands will be encouraged.cnbc.com
All masks, no fireworks: Shanghai Disneyland in muted reopening after coronavirus closedown
Thousands of visitors streamed into Shanghai Disneyland on Monday for the first time in three months as the Chinese park became the first reopened by Walt Disney after the coronavirus pandemic brought the Magic Kingdom to a standstill. Among the crowd on Monday was Shanghai Disneyland passholder Kay Yu. The reopening may provide a glimpse of how Disney can begin to recover from closures set to strip $1.4 billion from the company's profit. Visitors wearing face masks take selfies at Shanghai Disney Resort after the coronavirus pandemic on May 11, 2020 in Shanghai, China. Riders wearing face masks are seen on the Seven Dwarfs Mine Train at Shanghai Disney Resort after the coronavirus pandemic on May 11, 2020 in Shanghai, China.cnbc.com
Disney warns that coronavirus is making it hard to predict future performance
Shares of Disney are down around 37% since January, falling below $100 per share for the first time since Oct. 2017. The credit rating agency also noted that Disney has an available revolver of $12.25 billion under three credit facilities. Its parks, experience and products segment, which includes its theme parks, hotels, cruise line and consumer products arm, is likely to take a big hit as well. Its theme parks across the globe are closed at least until April, but experts in the industry foresee those closures lasting even longer. It's unclear how the closure of the two California Disney parks will impact the opening of the Avengers Campus expansion at California Adventure.cnbc.com
Tokyo Disneyland to close through mid-March on coronavirus concerns
A visitor wearing protective face mask, following an outbreak of the coronavirus, is seen outside Tokyo Disneyland in Urayasu, east of Tokyo, Japan February 28, 2020. Tokyo Disneyland will be closed from Saturday to March 15 due to concerns about coronavirus infections spreading in Japan, its operator said on Friday, leaving all of Walt Disney's theme parks in Asia temporarily shut. Both Tokyo Disneyland and DisneySea will be closed after a government recommendation that big gatherings and events be curtailed for two weeks, park operator Oriental Land Co. said. Osaka-based theme park Universal Studios Japan also said it was closing down during the same period. Discosure: Comcast's NBCUniversal is parent of Universal Studios Japan and CNBC.cnbc.com
A look at Bob Iger's legacy at Disney as he steps down as CEO
Bob Iger is stepping down as CEO. Disney announced that Bob Chapek, the company's head of parks, experiences and products, would be his successor. He built up the company through a series of four acquisitions that seeded its parks, consumer products and theaterical releases. In the year that Iger was named CEO, Disney's net income was $2.5 billion. Shares of Disney are up more than 400% from $25 per share in 2005 to nearly $128 at the close on Tuesday.cnbc.com
Disney beats earnings expectations but does not update Disney+ guidance
In the earnings release, Disney CEO Bob Iger said the service has "exceeded even our greatest expectations." Disney+ now has 26.5 million subscribers, which is up from the 10 million sign-ups it registered for the service after it launched November 12. CEO Bob Iger said on the company's earnings call that by Monday, that number had climbed to 28.6 million subscribers. The company previously forecast between 60 million and 90 million subscribers by the end of its 2024 fiscal year. On the call, Iger said as of Monday, ESPN+ now counts 7.6 million subscribers and Hulu has 30.7 million total subscribers.cnbc.com
Disney characters say tourists inappropriately touched them
ORLANDO, FL – Walt Disney World employees who portray Mickey Mouse, Minnie Mouse and Donald Duck each filed police reports this month claiming they were inappropriately touched by tourists. “She barely touched him,” said Scheer, adding his mother-in-law wouldn’t intentionally hurt Mickey Mouse. The same day, the 36-year-old Disney employee who portrays Minnie Mouse posed for pictures with a man and his wife from Minnesota. Minnie Mouse gave the man a hug and he groped her chest three times, according to the sheriff’s incident report. “As a result, he was trespassed from all of Walt Disney World property, to exclude the Saratoga Springs resort,” the sheriff’s report said.
Target teams up with Disney to open shops
NEW YORK - Target is hoping to bring the magic of such characters as Mickey Mouse and Elsa to its own customers by opening permanent Disney shops at a cluster of stores starting this fall. And it's planning a new store near the entrance of the Walt Disney World Resort in 2021. Bob Chapek, chairman of Disney Parks, Experiences and Products, said there's a 90% overlap between Disney and Target customers. But unlike Target's Disney shops, they're not Disney store branded and do not have the breadth of merchandise or the interactive features. Target, which has long sold Disney merchandise, says the Disney shops will average about 750 square feet (70 sq.