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Effects of Coronavirus (COVID-19) On Entertainment & Tourism Industry

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Nick said:
Maybe it’s just me, but if unemployment - even this heightened version of it - is more enticing than going to work, than I think that says more about the wages companies are paying for front line workers than anything else.
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Should be noted this isn't unemployment, Disney's still taking care of health insurance which is a huge cost. This is something unique.
 
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Nick said:
Maybe it’s just me, but if unemployment - even this heightened version of it - is more enticing than going to work, than I think that says more about the wages companies are paying for front line workers than anything else.
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Careful Nick you‘re starting to sound like a sOcIaLiSt with all of this talk of treating employees well and paying them for labor. Don’t you know that wages are supposed to get pushed back to the shareholder Instead?
 
Joe said:
Should be noted this isn't unemployment, Disney's still taking care of health insurance which is a huge cost. This is something unique.
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I know it isn’t for them - they’re furloughed. I was more talking in general terms for people who don’t have the protections Disney is giving.
 
Nick said:
Maybe it’s just me, but if unemployment - even this heightened version of it - is more enticing than going to work, than I think that says more about the wages companies are paying for front line workers than anything else.
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Here, max unemployment benefit + the $600 works out the same as if you got paid $40 an hour or $83,000 a year. That's well outside of front line worker range.
 
fryoj said:
Here, max unemployment benefit + the $600 works out the same as if you got paid $40 an hour or $83,000 a year. That's well outside of front line worker range.
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The point is not necessarily that front line works should expect to make this amount when they go back to work.

Obviously $40/hour isn’t something that is sustainable for any company for front line. But many people are only making $10/hour or (in some states) federal minimum wage which is something like $7.25/hour. Most people bust their ass and don’t necessarily like their jobs, but they have to.

IMO, an $18 minimum wage is around where most major companies should hover at in an ideal world.
 
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Florida unemployment pays a max of $275/week for 12 weeks. If I’m not mistaken, it’s been cut a lot since the 2008 recession and is one of the worst in the nation.

Add the $600 from the Feds and you’re looking at $875 before taxes, or the equivalent of $45.5k per year. Just under $22/hour for a 40-hour week.

Good luck getting an application through though.
 
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I find it really interesting they didn't move Soul from June. Maybe they're banking on it being something every theater re-opens with until the schedule stabilizes in the second half of July?
 
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Scott W. said:
Indiana Jones 5 pushed back to summer 2022.

I'm surprised they haven't pushed Avatar 2 back yet.
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I think Avatar only has some live action left to do, and those movies already have so much lead time on their release dates (Wikipedia says they started filming 2 & 3 in 2017, which if true...yeesh those movies must be really expensive)

EDIT: Honestly, I wonder if they're banking so much footage years in advance so they have leverage to release all the sequels if Avatar 2 doesn't do so hot. Apparently a third of 4 is already shot as well
 
ThemeParks4Life said:
I find it really interesting they didn't move Soul from June. Maybe they're banking on it being something every theater re-opens with until the schedule stabilizes in the second half of July?
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It might be to satiate investors. Disney needs to make it look like they’ll have major cash flow coming in within the next couple months.

If theaters are open, Soul will be the only thing in the marketplace.
 
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ThemeParks4Life said:
I find it really interesting they didn't move Soul from June. Maybe they're banking on it being something every theater re-opens with until the schedule stabilizes in the second half of July?
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It'll have to move pretty much no doubt. It probably moves to wherever the next Pixar release date is scheduled for (I think Raya keeps it's release date). Also, who could've POSSIBLY guessed Artemis Fowl would become a Disney+ Original... :lol:

I'm a bit surprised that they're keeping The One and Only Ivan as a theatrical release. It's poised to get creamed by Wonder Woman 1984, now.
 
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Spaulding said:
Over here in the UK, the Fringe Festival which takes place in Edinburgh has been cancelled in August. I have heard alot of people say things will be back to normal by summer, but I think this shows that we cannot guarantee anything at this point.

This is pretty massive for the city as it is the biggest time of year for visitors to the city and takes in mega bucks in terms of tourism. Millions of pounds every year.
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It’s hard to tell whether events like the Fringe are cancelled in the UK because they expect the risk still to be high in August or they have been cancelled for financial reasons.

Lots of talk about grants and funding being repurposed to support communities etc this year with event organisers promised the same budget next year as a sweetener. Events that rely heavily on sponsorship to run will have similar issues with companies having to cut marketing budgets to ride out the next few months.

I think businesses and events that don’t rely heavily on sponsorship or public funding will bounce back quicker than others. So hopefully by mid/end of summer there is at least some normalcy.
 
Hopped over to Universal's site just to play around with hotel dates later this year and the first thing that shows up on their main page is a 3 Day Ticket for $179.99. That same ticket runs for $266 on Undercover Tourist, and the only blockout dates are 12/19-12/31.

On one hand this is a tremendous deal, but on the other it definitely worries me that these parks really expect attendance to be low for the next year or so.

Edit: The deal appears to only be for Florida Residents, but regardless, still quite cheap.
 
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