The coronavirus pandemic has caused disruption across the entire entertainment industry. Not even family entertainment colossus The Walt Disney Company could escape the knock-on effects.
In their Q3 2020 earnings call, Disney reported a huge $4.72 billion drop in earnings in its third quarter. Last year, the same time period brought Disney a net income of $1.43 billion.
As well as movie delays, Disney have been impacted in other ways – the closure of their theme parks around the world and their Disney Cruise Line will certainly have contributed to the loss in earnings. While Walt Disney World, Disneyland Paris, Shanghai Disney and Tokyo Disneyland are now reopened, Disneyland remains indefinitely closed – and a coronavirus outbreak forced Hong Kong Disneyland to close again in July after its June reopening.
This also explains Disney’s decision to forego a theatrical release for Mulan, instead sending it straight to Disney Plus on September 4th. CEO Bob Chapek commented in the call: ‘We’re trying to establish a new premiere access window to capture that investment we got [in Mulan]’.
Luckily, Disney Plus has been a success for the company throughout the pandemic. The hugely popular musical Hamilton came exclusively to Disney Plus in July, and reportedly gained the service over 400,000 subscribers in the US alone across its premiere weekend. With the release of Beyoncé’s Black Is King on July 31st, as well as the upcoming release of Mulan and several Marvel TV shows, Disney Plus certainly has a number of valuable exclusives to boast of.
You can stream Disney content now with a Disney Plus subscription. As well as classic Disney movies, you’ll also be able to watch the MCU from Iron Man all the way up to Avengers: Endgame, the entire Star Wars saga and many behind the scenes documentaries. Why not try Disney Plus today?