Dsiney's Bookings Are Down
Most industries in America certainly have taken an economic hit since the bank crisis in mid-November 2008, and Walt Disney World is no exception. Disney’s chief executive, Bob Iger, said that in the deteriorating economy have Disney bookings the worst it has been in 30 years. Although theme park attendance is only down 1% from last year, there has been a significant drop in forward bookings, and with that a drop in hotel bookings, merchandise sales and broadcasting advertisements.
These drops are largely due to the fact that would be vacationers are not willing to travel during this economic lull, sending earnings further down the drain. Disney is offering major deals to visitors, as mentioned in a previous blog, to try and offset the damage that this economic time-out could usher in.
The parks and hotels are not the only parts that are taking the hits, Disney’s ABC and ESPN is also feeling the strain. For example, the hurting auto industry is not paying for as many ads as they were in the past, thus slowing media advertisements on these networks.
Even with the decline and a bleak outlook for 2009, Disney is confident that they can endure the pressure of this economic breakdown.
These drops are largely due to the fact that would be vacationers are not willing to travel during this economic lull, sending earnings further down the drain. Disney is offering major deals to visitors, as mentioned in a previous blog, to try and offset the damage that this economic time-out could usher in.
The parks and hotels are not the only parts that are taking the hits, Disney’s ABC and ESPN is also feeling the strain. For example, the hurting auto industry is not paying for as many ads as they were in the past, thus slowing media advertisements on these networks.
Even with the decline and a bleak outlook for 2009, Disney is confident that they can endure the pressure of this economic breakdown.
posted by John at
10:33 AM
