The company made $1.1 billion in revenue from its movie releases. Even though 2020 isn’t expected to be as strong since there are no Star Wars filmed scheduled for release, the outbreak of COVID-19 may bring Disney’s Mulan to a halt. Mulan was originally scheduled for release in China this month. It’s one of Disney’s highly anticipated films of the year, but since the theaters are closing all over the country, the studio could be faced with a loss.
Mulan Was Originally Scheduled To Be Released On March 27 In The U.S. Disney Is Already Feeling The Pinch From The Coronavirus
Mulan was originally scheduled to be released on March 27 in the U.S. Disney is already feeling the pinch from the coronavirus. Mulan had an expected budget of $200 million and was targeted toward the Chinese audience. Disney cashes in on its international markets to increase its studio revenue. Last year, The Lion King made $543 million at the U.S. box office but made $1.1 billion in international ticket sales.
Fortunately, the spread of COVID-19 has slowed down in China. There are currently over 80,000 cases reported in the mainland China. The country is starting to stabilize after the outbreak. Even a big company like Disney is not invincible to a global outbreak. Disney has already shut down its theme parks in Hong Kong and Shanghai. Combined, its studios and theme parks make up half of the company’s annual revenue.
Disney reported during its fiscal first-quarter conference call that the theme park closures could cause a $145 million loss in its operating income. This loss is said to occur after the parks are closed for two months. Disneyland Paris is also responding to guests requesting information on a potential close.
Disneyland Paris Is Open And Welcomes Its Visitors As Usual
According to WDW News Today, the company released a statement said they are still allowing guests to the park: “Disneyland Paris is open and welcomes its visitors as usual. We’re following the development of the situation in close collaboration with health authorities, whose recommendations we follow. Disneyland Paris applies exemplary sanitation procedures, as well as high hygiene and cleanliness standards. You can check our park hours via this link: alc.cx/b3tn Have a great day.”
There is no risk to the Disney resorts in Orland or Southern California. Not even either of the Universal Studios resorts in the U.S. are expected to close during this time. However, global deaths from coronavirus are still less than half of the pedestrian deaths within the U.S., and is far less than the 646,000 annual reported deaths worldwide from the flu.
But Disney wants to remain vigilant. Especially when a new virus is concerned. What are your thoughts on Mulan being postponed? Sound off below in the comments section.