Disney theme parks take $3.5 billion hit due to coronavirus

Disney

FILE – In this Saturday, July 11, 2020, file photo, guests wear masks as required to attend the official reopening day of the Magic Kingdom at Walt Disney World in Lake Buena Vista, Fla. Two weeks after reopening, workers at Disney World are praising the company for the safety protocols that have been implemented to protect against the new coronavirus. But questions remain about whether it will matter to paying guests of Disney World and its crosstown rivals, Universal Orlando and SeaWorld Orlando. (Joe Burbank/Orlando Sentinel via AP, File)

LAKE BUENA VISTA, Fla. (WESH) — Disney said Tuesday afternoon that its theme parks division took a $3.5 billion hit due to the coronavirus pandemic.

Disney Parks reported an 85% decline in revenue this quarter compared to last year, and the company said it believes the total negative impact of COVID-19 on parks this quarter is $3.5 billion.

Overall sales for the company fell 42% to $11.8 billion.

Disney did report positive returns on its new streaming service, Disney+, which had nearly 60 million subscribers at the end of June, according to the company.

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