Disney executives slam California for not allowing Disneyland to reopen sooner
Earlier this month, a group of California mayors sent a letter to Gov. Gavin Newsom asking him to consider relaxing the guidelines so that Disneyland, Universal Orlando and other large theme parks could reopen sooner.
The mayors warned that the closures could last months and cost jobs and local economies already reeling from COVID-19 impacts.
Disney has laid off 28,000 employees in California and Florida.
Disney’s parks, products and experiences segment lost $1.1 billion in the quarter, as Disneyland remains closed and other parks operate below capacity. The company’s cruise ship operations, which are part of the segment, remain shut down.
The fourth quarter losses were offset by Disney’s streaming service Disney Plus, which now has 73 million subscribers.
In all, the company posted a loss of nearly $580 million for the fourth quarter and a loss of $1.7 billion for the full year.
“It’s been a year unlike any other in our lifetimes, and certainly in the history of the Walt Disney Co.,” Chapek said.
