And according to the New York Times, media industry analyst Hal Vogel predicts that this means Disney is losing over 30 million dollars every single day. And according to Vogel, this loss comes after the company already had to borrow 6 billion.
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Even Disney Plus isn’t fairing so well, and it’s in the best position to make Disney money. The streaming service pulled in over 50 million people in only five months. And now most of society relies on it and other streamers like Netflix for its entertainment. But because the producers behind Disney Plus’s content can’t gather together to create and supply enough new things, Disney Plus is now losing money.
The situation has gotten so bad that former CEO Bob Iger has returned to the company as a consultant with the title “Executive Chairman.” The hope is that Iger’s 15 years of experience will help the new CEO, Bob Chapek, see the company through this crisis. Regardless, however, Iger believes that the virus will have a lasting impact on Disney’s future.
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Source: The New York Times
