Disney Now Losing $350,000 Per Day Due To Coronavirus

The ongoing spread of the COVID-19 coronavirus has prompted Disney to go to great lengths to mitigate the effects of it, a decision that is estimated to cost them upwards of $350,000 per day due to all the productions they’ve had to delay and shut down.

Just one day after the World Health Organization declared the coronavirus a pandemic, Disney announced the temporary closure of Disneyland and Walt Disney World. In the weeks leading up to the announcement of the US shutdowns, meanwhile, Disneyland parks in other countries like Japan, Hong Kong, and China were closed as well to help combat the spread of the virus. Now, the company’s live-action remake of Mulan, horror flick Antlers, and X-Men spinoff The New Mutants have all been dropped from the release schedule – the last of which has already seen consistent setbacks since it began production. In addition, production on all Disney+ shows have been halted as the outbreak gains momentum.

Disney aren’t the only ones actively trying to mitigate the damage from the coronavirus, either. Many major music events have been canceled, yearly expositions like E3 and SXSW have been shut down, and even the NBA has suspended its 2020 season after multiple players tested positive for the virus.

Hollywood is expected to lose up to $20 billion as COVID-19 forces the delay of various films and prompts many theaters around the world to close their doors to the public. In fact, one of the most substantial hits came from the announcement of a one-year delay for Fast & Furious 9, but other major blows to the box office include No Time To Die‘s push to November and A Quiet Place II‘s indefinite delay. And again, for Disney in particular, The Hollywood Reporter says that production delays on the likes of The Little Mermaid, Shang-Chi and more could be costing the studio $350,000 daily.

And unfortunately, it doesn’t look like things are going to be getting better anytime soon. The coronavirus has now infected over 150,000 people worldwide with a death toll nearing 6,000. Meaning Hollywood is likely going to be in lockdown for a little while longer.