The Walt Disney Company has closed the books on their 2020 fiscal year, which began in October 2019 and ended in early October 2020. While the rest of us still have a couple more months of 2020 to go, we now know the financial hit to the Disney Parks, Experiences, and Products division of the company this year.

Overall, Disney reported a 37% lower revenue in the division when compared to 2019. Of course, due to fiscal 2020 starting in October 2019 that meant that Disney was able to get nearly 6 months of revenue before officially shuttering all of their theme parks worldwide – with the two largest revenue generators, Walt Disney World and Disneyland, closing back in mid-March 2020.

The real indicator on how much the pandemic has hit the company is in the fiscal Q3 and Q4 revenues, which are down nearly 75% when compared to 2019 numbers. Beyond that, Disney estimates that the total impact of COVID-19 on those two quarters is almost $6 billion combined.

The real cost isn’t in the money Disney “lost”, they’ll make more and are already seeing what they’re calling “positive indicators” with their holiday 2020 bookings. The real cost is the layoffs of 28,000 Cast Members. Those Cast Members aren’t positioned as well to absorb the financial blows that a pandemic creates and it may be quite some time before they are rehired, if they’re rehired at all. Former Disney CEO Bob Iger has said that the future of the company is a leaner, more efficient workforce.

As always, keep checking back with us here at BlogMickey.com as we continue to bring you the latest news, photos, and info from around the Disney Parks!