Hong Kong Disneyland Records Million-Dollar Losses in FY 2020 – The Walt Disney Company’s Consolidated Revenue Only Slightly Down
Zu den Neuheiten im HKDL zählt das Ende 2020 fertiggestellte neue Schloss: Castle of Magical Dreams
Hong Kong Disneyland Resort (HKDL) recently announced its results for the past Fiscal Year (FY) 2020, showing a 76 per cent drop in revenue compared to the previous year. In total, the Disney theme park resort, which was closed for 60 per cent of the regular opening days last year due to the pandemic, generated about 1.4 billion HKD (approx. 148 million EUR). EBITDA was negative 1.5 billion HKD (approx. 159 million EUR) and the net loss amounted to 2.7 billion HKD (285 million EUR). Since 19 February this year, the HKDL has been open again to visitors and is recording a very positive ticket demand. Sales of annual passes climbed to a record high since the introduction of the “Magic Access” tickets in 2011. This means that the company can look into the future in a positive manner again.
The Walt Disney Company, who owns 47 per cent of HKDL, also saw a decline in revenue for the past FY 2020, but it was quite slighter with revenues totaling at 65.39 billion USD in 2020 compared to 69.61 billion USD in 2019. In the direct-to-consumer business division, which also includes the still young streaming services Disney+ and the ESPN sports channel, Disney recorded particularly strong growth (cf. EAP news of 17 Feb 2021). This partly compensated for the annual loss of 37 per cent in the “Parks, Experiences and Products” division, which was due to closure of the Disney Parks in Florida, Paris and especially California. However, in the meantime, there are some rays of hope for all the parks: a few days ago, the regulations on wearing face masks were relaxed for Walt Disney World in Florida, the Disneyland Resort in Anaheim has been welcoming guests back after a year of closure since end of April, and Disneyland Paris will also reopen its gates to park guests on 17 June.
To learn more about which investment plans are underway at the US Disney parks and to what kind of novelties visitors can look forward to, read on in our Disney article in EAP issue 3/2021 here. (eap)
