The Hong Kong Disneyland park reopened in June after a costly shutdown caused by the coronavirus pandemicThe Walt Disney Company reported a rare quarterly loss last night as worldwide Covid-19 restrictions and shutdowns hit the entertainment group’s theme parks, cruise ships, television networks and studio businesses. The company, which was founded in 1923 and has a market value of $212 billion, made a third-quarter loss of $4.7 billion, compared with a profit of $1.4 billion in the same period last year. Revenue in the three months to June 27 fell by 42 per cent to $11.8 billion. One bright spot for the group was its new Disney+ streaming service, which now has 57.5 million paid subscribers, compared with 26.5 million at the end of last year. In a surprise move, Disney said it would release the delayed and much-anticipated blockbuster Mulan

Source: The Times August 04, 2020 23:01 UTC