in August that theme park attendance was lower than expected as the United States struggles to contain its COVID-19 outbreak, but new data shows the dropoff may be even more severe.
"While Disney World appears to be lagging the COVID case reduction, we would expect the data to relieve some of the admissions pressure in the near future," the bank's analysts said in a note to clients. "At present, Epcot and Animal Kingdom are outperforming Magic Kingdom and Hollywood Studios."Disney's chief financial officer Christine McCarthy said that even despite an uptick in cancellations, Disney World was "operating at a positive net contribution level.
To court those who don't have to travel far, both Disney and its backyard competitor Universal have hawked heavy discounts for Florida residents. Some packages average as low as $49 per day through the fall. Disney World re-opened to the public in July, after a being closed for more than three-months. The parks, along with a surge in streaming sign ups and some sports reactivating their seasons at the company's campus helped make up for a steep decline in live TV, cruise ship, and movie revenues.
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