Disney Earnings: Parks Lose $1 Billion; Timing of Relaxing Mask & Distancing Rules
Walt Disney Company reported its first quarter earnings for October through December and forward-looking forecast for 2021 on an investor call held by CEO Bob Chapek. In this post, we’ll cover the good & bad of these results, plus updates on the future of Walt Disney World and Disneyland, including Disney’s internal expectations about the relaxation of face mask and physical distancing rules.
The first quarter of the Walt Disney Company’s fiscal year (the last quarter of the calendar year) was something of a turning point. While Disneyland remained closed for the quarter’s entirety and two of the international parks were partly closed, Walt Disney World was open. Not only was the flagship resort complex open, but it was the busiest post-reopening stretch of the year.
Less significantly for theme park fans but more so for the company, Disney+ had another stellar quarter. Even before the company released subscriber numbers, it was safe to say that Disney+ had crushed it. Investor Day was essentially a second launch for the streaming service, with a barrage of programming announced during the 4-hour event (see our post, Like 937 Things Announced for Disney+ During Investor Day, for specifics). And investors took note.
Following Investor Day, shares in the Walt Disney Company surge, with the stock price rising almost 14% to finish at $175.72. Trading volume was about nine times its normal level. In the two months since then, $DIS has maintained that momentum, edging above $190 per share as of February 2021.
Multiple Wall Street analysts have expressed further optimism about the Walt Disney Company’s stock, with many upgrading it to “buy” with price targets at or above $200. Investor enthusiasm is driven by the belief that Disney+ can achieve scale similar to industry leader Netflix. It’s also probable that the theme parks will become the beneficiary of vaccine availability and pent up demand for leisure travel in the second half of 2021, per analysts.
Against that backdrop, let’s start with a look the Walt Disney Company’s fiscal first quarter 2021 financial results. This was both better and worse than expected.
Forecasts called for revenue of $15.91 billion, but the actual total was $16.25–that’s down as compared to $20.86 billion year over year, but still better than expected. Consequently, $DIS has been up in after hours trading as soon as the results were released, so clearly Wall Street was pleasantly surprised…
Per usual, Disney+ was the expected bright spot. Subscribers to Disney+ surged even more than expected to 94.9 million, which is well ahead of the 90.2 million anticipated. Disney+ beating projections even after analysts have adjusted their expectations upwards for Disney+ after its meteoric success is really impressive.
It’s also worth noting here that Disney’s direct-to-consumer division includes ESPN+ and Hulu, which don’t grab the headlines but also performed very well. ESPN+ has eclipsed 12.1 million subscribers, almost double the number of a year ago; Hulu rose 30% to 39.4 million subscribers. It’s likely this was driven by advertising for the “Disney Bundle” which we saw pretty much nonstop during the Christmas season.
Of particular interest to us is Parks, Experiences and Products (or Parks & Resorts). Disney estimates that the total net adverse impact on that segment’s operating income for the third quarter was approximately $2.6 billion due to revenue lost as a result of the closures, capacity caps, and operational cutbacks–that’s lost revenue of over $30 million per day.
Disney Parks, Experiences and Products revenues for the quarter decreased 53% to $3.6 billion, and segment operating results decreased $2.6 billion to a loss of $119 million. That might sound good as compared to the billions of past quarters, but keep in mind that consumer products are now under the same umbrella as theme parks…and the first quarter encompassed the holiday shopping season.
Remove all those toys from the equation and the numbers are worse. Walt Disney World and Disneyland lost $798 million for the quarter, while the international parks lost a collective $262 million. That’s just above an operating loss of $1 billion for the theme parks alone.
As with the previous two quarters, all theme parks that were open for a portion of the quarter covered their variable costs and made a net positive contribution towards fixed costs. Keep in mind that this does not mean Walt Disney World or any other park is profitable; it means the parks are losing less money by being open than they would lose by being closed. (Making this statement instead of “Walt Disney World is profitable” suggests that the parks are not yet profitable.)
Let’s get the rest of the bad theme park news out of the way so we can get to the optimistic stuff. Due to the ongoing closure, Disney CFO Christine McCarthy stated that the company has chosen to slow spending on capital expenditures in the parks.
Consistent with that, the Q1FY21 results document revealed that Disney spent $760 million on capex in the parks in the first quarter of fiscal year 2021 as compared to $1.3 billion spent in the previous year’s first quarter. Note that the previous year would’ve included work on Star Wars: Rise of the Resistance as well as Mickey & Minnie’s Runaway Railway, and there was going to be some degree of winding down of spending after that. But not cutting the number essentially in half.
Now let’s turn to the positives. Average daily attendance at Walt Disney World grew significantly in the quarter, and the operations team found “innovative ways” to increase capacity while maintaining health safety protocol. Disney indicates that they’re pleased with booking trends, as well as consumer sentiment for visiting in the future.
In terms of forward-looking projections for the second quarter (through the end of March 2021), Disney CFO Christine McCarthy indicated that Walt Disney World is facing “headwinds” in terms of seasonality and pessimism around current travel. This much has been obvious to us thus far in visits the last two months–as we covered previously, Crowds are Down Over 40% at Walt Disney World thus far during the winter off-season.
Additionally, McCarthy stated that Disneyland and Disneyland Paris would likely remain closed for the remainder of the current quarter, which was pretty much a given. They do expect Hong Kong Disneyland to reopen in the very near future, but that’s peanuts as compared to the other multi-park complexes over which Disney has sole ownership.
To kick off the Q&A, an investor asked CEO Bob Chapek about how park capacity increases would be undertaken. CEO Bob Chapek replied that capacity is “really going to be determined by the rate of vaccination of the public.” He further stated that Disney has ample demand for the theme parks, it’s the current attendance caps that are the issue.
This is actually something we’ve touched upon from time to time, most recently in our Walt Disney World 50th Anniversary Info post. Suffice to say, Disney is limiting attendance to roughly 35% of normal levels because of physical distancing requirements from the CDC. That is the upper limit on park capacity while adhering to health guidance based on Disney’s industrial engineering estimates.
Shifting to vaccination rate would be significant and potentially accelerate the timeline for relaxing rules and health safety protocol. It could allow attendance to increased, and with it entertainment and other costly offerings to be restored.
While it might be difficult to envision such a scenario right now as most vaccine-related headlines concern the slow rollout, but that has already started to gain momentum and will hopefully continue to improve. In fact, just this morning, Dr. Anthony Fauci told the Today Show that the pace of vaccinations will pick up as we get into March, and that by April, it will be “open season” for all groups to receive shots. That is great news for Walt Disney World, and alone cause for optimism!
A subsequent question specifically inquired about face masks and physical distancing even after the rollout of vaccinations. This is something about which we’ve been speculating for the last several months, as well.
In response to this question, Chapek stated that Disney has no doubt that parks will have “some level” of physical distancing and mask-wearing for the remainder of 2021. However, if vaccines are available to the general public per the April timeline above, Disney views that as a “game-changer.”
Chapek stated that there will be some overlap until herd immunity has been reached, but it won’t be the same as today. Specifically, he said: “Do we believe we’ll be in the same state of 6 foot social distancing and mask wearing in 2022? Absolutely not.” (Note: While Chapek did not specify whether he was referring to the fiscal or calendar year, these calls concern the former and financial topics are usually discussed as such. However, this is obviously not a financial topic. Regardless, FY22 starts on October 1, 2021.)
Editorializing a bit here, the most obvious way to accomplish this is shifting from rules to recommendations. This is something we discuss at length in When Will Walt Disney World Stop Requiring Face Masks? The analysis is pretty much unchanged from that post. In our view, Disney moving from reliance upon health expert recommendations to the vaccination rate is laying the groundwork for changing its approach to health safety protocol.
Ultimately, the financial results were about on par with what was anticipated. Familiar beats were hit–the resounding success of Disney+ and consumer products, with continued losses from the closure and scaled back operations of the theme parks. Some results were better than expected, others were worst. All things considered, no colossal surprises.
For most Walt Disney World fans (us included), the earnings calls are less about the financials and more about the trajectory and future prospects of the parks. There has been a lot of pessimism of late, in particular about the need to wear face masks and distance “indefinitely.” While this call did not set forth a definitive timeframe for the relaxation of rules (that would be premature and foolish), it did establish a new benchmark while also articulating the internal view at the Walt Disney Company. Between that and today’s optimism about the vaccine rollout, we’re excited for October and beyond at Walt Disney World. The last quarter of the calendar year and first quarter of the 2022 fiscal year could shape up to be a great one, with things starting to return to normal!
Planning a Walt Disney World trip? Learn about hotels on our Walt Disney World Hotels Reviews page. For where to eat, read our Walt Disney World Restaurant Reviews. To save money on tickets or determine which type to buy, read our Tips for Saving Money on Walt Disney World Tickets post. Our What to Pack for Disney Trips post takes a unique look at clever items to take. For what to do and when to do it, our Walt Disney World Ride Guides will help. For comprehensive advice, the best place to start is our Walt Disney World Trip Planning Guide for everything you need to know!
YOUR THOUGHTS
What do you think of Walt Disney Company’s first quarter earnings and future forecast? Are you likewise optimistic for October 2021 and beyond, or think even that is premature? Are you worried about the future of Walt Disney World, Disneyland, or the company in general? Excited by Disney+ continuing to do exceptional numbers? Think things will turn around in 2022? Do you agree or disagree with our assessment? Any questions we can help you answer? Hearing your feedback–even when you disagree with us–is both interesting to us and helpful to other readers, so please share your thoughts below in the comments!
“Are you worried about the future of Walt Disney World, Disneyland, or the company in general? ”
Going forward I’m no longer worried about covid. We know how to live with it and we’re heading toward herd immunity. I am very concerned about the Parks.
I’ve always argued that there be no politics in this Disney blog. I don’t intend to insert any now so please do not read into what I’m about to say. I’m not worried about the company. With the success of Disney+ the company could sell off aspects like the park and not be in the red. Don’t think that could happen? Read Storming the Magic Kingdom by John Taylor. If you love Disney YOU NEED TO READ THIS BOOK!!! It’s so well written that you’ll forget this is about finances. Taylor makes the Byzantine mechanics of contemporary finance easy to follow. I promise the narrative is so fast paced you will not put it down.
So what is my concern about the Parks? That people will not have the money to go leaving them unprofitable for years to come. I’m concerned about what I see rolling out of Washington. I’m seeing well meaning ideas that are not well thought out. I’m reminded of the saying, “The road to Hell is paved with good intentions.” I fear our country is headed to a very bad place financially. Gas is already up 50 cents by us and could be up another dollar by next year. That alone raises prices on everything. If we enter into a depression there won’t be enough people to keep Disney Parks open. That’s my fear not my prediction or what I believe will happen. In my heart I feel it will all work out but there is a very realistic chance it could fall apart.
@Mickey1928. I believe that there will be a lot of pent up demand by the end of this year and into 2022. I’ve heard the term “revenge travel.” And I feel it’s a real thing. People have been cooped up now for close to a year. By the end of Summer into Fall I think you will start to see a serious uptick in travel.
As for the price of gas? Meh…it has been low now for a very long time. A reason that it is now going up in price is because of the increase in demand. If you don’t like gas prices then don’t drive a gas guzzler.
Hi FrankV,
Well I don’t drive a gas guzzler but the cost of gasoline drives up the cost of everything you buy whether it be items made from plastic to food to clothing to heating to airline tickets to hotel rooms etc.
You’re right that revenge travel is a real possibility but it will happen only if the middle class has disposable funds. I remember when gas was around $4 and the comedy clubs were empty because most disposable income was sitting in potential audience member’s gas tanks.
I think the attitude of gas has been low for a long time is like saying well the boat hasn’t sprung any leaks for a long time. It’s a potential warning sign. If it holds at 50 cents fine but it’s not up because of demand. I don’t fear inflation as much as I do a depression. I’m just saying we need to keep our eyes wide open.
And the reaction of don’t drive a gas guzzler (which I actually agree with ) leaves me with the feeling I had when Marie Antionette said, “Let them drive BMW i8 PHEVs.”
I am an out of stater and buy 7 annual passes. We try to fly down 2x a year and use the annual pass. Now that they stopped sales, it will cost us more to purchase 7 10 day park hoppers – twice! Hoping they bring them back soon!!!
Those Fauci vaccination numbers are terribly ambitious. I don’t see NC coming anywhere close to being able to vaccinate the general public by April. We’re only opening up the first tier of essential workers-teachers- at the end of this month.
Thanks for the update. I feel that masks are with us for the foreseeable future. It’s something of a norm is Asia and will be here…maybe forever. Get used to it.
Like the flu vaccine we will end up getting yearly boosters as the virus mutates.
Disney will do what is SAFEST and BEST for everyone. The last thing I want is to be crowded next to people who may not be vaccinated and/or find masks to be an ‘inconvenience.’
Actually I think Disney will do what makes the most business sense. I think masks will be with us for a bit longer, but not as long as some people might like. There’s too much push back from a large part of the population so I don’t see that being a country-wide “norm”. I have no doubt we’ll see more random people wearing them in the future, especially during flu season, but personally I see most people dumping them ASAP when they aren’t mandatory. And the second Disney feels they can get rid of both masks and distancing they will because, from a business standpoint, distancing keeps them from packing the parks and based on the flood of comments here, masks are a no go for many on vacation. If you want to go when it’s not as busy and masks and distancing are being strongly enforced I’d encourage you to go soon because Disney wants and needs to pack the parks as soon as they possibly can.
@Nicki.
We were there between Christmas and New Year’s. I must say I really enjoyed it because there were a lot less people. And I did not have a Lotta problems wearing a mask. And Disney Was very good about enforcing protocols.
I’m jealous Frank! We were supposed to be there during that time but with no NYE, late night hours, park hopping, etc it just wasn’t worth it for us. I’d love to be there with low crowds!!
I was at WDW back in Dec. Wore the same mask you saw the college football coaches wearing on the sidelines – NCAA approved, the SEMA97 Functional Active Mask. The mask uses nano fabric technology and a micro dustproof fabric with a 97.1% fine dust filter rate, filtering particles down to 1 micron. It has three layers that are sewn together into one and once again – it is approved by the NCAA – but not Disney. I tried wearing one in the park. Walked through health screening, security and the “turnstile” no problems, but about 50 yards into the park – I was approached by 2 security officers who demanded that I obtain a different mask to wear. I tried to show them the mask and and explained “NCAA approved” none of that mattered. I pulled a $3 mask I got at Old Navy out of my pocket and asked if it was “OK”. – That, they said was fine and asked that I wear it instead. So, the scientifically designed mask, that boasts filtration down to 1 micron was a “no-go” but the “fashion mask” that was as thin as a handkerchief to totally acceptable! Go figure?
Any insight as to whether he plans to bring back the “magic” (meet & greets, dining experiences, fast passes, EMH, etc) or is he planning to just relax the mask mandate – which costs him absolutely ZERO – but yet continue to use COVID as an excuse to charge the same (or probably more) for sooooo much less? Sorry, but I know which side I’m betting on.
I don’t see anyone talking about the fact that we are still months away from having a vaccine for kids available. I don’t see how we get close to herd immunity without it.
Must be nice to be so much above everyone else.
Doesn’t matter to me because we are never going to Disney World again.
Sadly, I cannot blame you in the least.
I’m unclear why you are posting here, May?
Disney is aiming for herd immunity to appear they they are erring on the side of caution in the face of a pandemic. While that might be a safe goal, it may or may not be reachable. What if covid hangs around humanity forever, like the flu with its infection rate and death rate and its new strains, and doesn’t go away despite the vaccines? We still don’t know how long the vaccine is good for, and it might be only good for a few months. If that turns out to be the case, I think Disney will eventually have to accept covid and remove the requirements either way, though that might take us all the way to past 2021. It will be interesting to see how much patience Disney has in dealing with this.
If we could soon only wear masks indoors, I’ll keep my Disney reservations now cancelled 3 times! I have the vaccine and totally understand need for distancing and masks but walking around outside and taking photos without a mask I hope comes soon.
I have a Trip planned for September 2021. We r Hopeful that the Dining plan will b back in time for our trip. We have Rescheduled 3x. We r NOT POSTPONING Again. But Hopefully DINING PLAN Will b Back.
Any Insight would b nice.
Agree…we originally had the dining plan in our package and have had to rebook 3 times as well. There have been several promotions for room discounts and 2 free days but after checking with all the discounts, our package went down 50 dollars for 2 adults with 2 adult children. No real discounts yet the “magic ” is way discounted. No shows, no parades, no character meet and greets, no dining plan, or no fast passes. The experience will be way less than magical so why aren’t there better prices as incentive to come despite being strapped in a mask the whole time and losing out on the above mentioned items.
We are scheduled to come in May for my son’s graduation from last year. This has really gotten tiresome and frustrating……We have all been vaccinated and feel like it hasn’t made a bit of difference.
Probably going to cancel and find something else to do.
#openlifeup4thevaccinated
I’m a non FL resident who can’t wait to be able to purchase three annual passes for my family. I wish Disney would take my money sooner than later for this!
If you’re that anxious to give Disney your money, then why don’t you give them your money? They’ve been open since July. You can’t purchase new APs, but you can still buy tickets.
Annual passes will give us flexibility to visit at different times on different days for varying lengths of times each visit. We’ll be there for a few weeks. Thanks for your concern and enlightening information, Robert!
Ash – since you are wanting so badly to throw away $3,500 for 25% of what you used to get, perhaps you could give that money to a charity that would reap 100% of the benefits.
I agree Ash, an annual pass would have been very useful for me this past year, too. No idea why your post is getting all the negative vibes, just want you to know I feel you!
Please sign me up for your emails.
I have to think the first easing of masks will come late this year and it will be allowing mask free photos with the Disney photographers.
I have no problem wearing a mask but a mask free photo would be a huge welcomed improvement.
An easing of distancing might come with herd immunity but it won’t go from 6 feet to zero. I’m thinking/hoping we go from 6 feet to 3 feet. All you need is to put down new lines between the current lines and you’ve doubled attendance.
I’m wondering with distancing, masks , no hand shaking and personal hand sanitizing what are the flu / cold numbers during this time? We may learn going forward that utilizing some aspects of our current situation might make sense to continue as personal choice. I for one will go to fist bumps and not shake hands. I will stand further back then I used to. I might on occasion wear a mask when hitting the supermarket or shopping center. I will not wear a mask at an outdoor park like WDW but I might have one in my pocket should I hear someone on line behind me coughing. I always carried a bottle of hand sanitizer in my glove compartment but never used it unless I got something sticky on my hands. In the future I might use it more often like after shopping. I might keep a small bottle in my pocket for use after a ride at WDW.
6 feet was established because that’s the roughly the distance the virus can travel through the air before it dies. Going down to 3 feet does absolutely nothing so I doubt it will ever be considered as an option. ( I mean its possible some politicians might think its a good idea to make it seem like they are being proactive but it would be a useless gesture.) I doubt Disney would bother with it. I actually think masks will go before social distancing simply because more people hate masks. Also in theory with effective social distancing you don’t really need a mask. Plus masks require much more vigilance and staff time.
Check the expiration date on your bottle of hand sanitizer. It may have expired.
The 6ft to 3ft is interesting. Even at 6ft, it can travel, but it also has to do with ventilation and circulation. Our school districts were allowed to space desks at 3ft intervals because of ventilation. I am far from an expert, but apparently it may be possible.
The capacity is Disney’s choice. There is no state imposed capacity limits for any theme park in Florida . All parks have been allowed to go to full capacity since September. It is simply the choice of the parks.
Any tips for thinks to do around WDW without park tickets with social distancing rules in place? Heading to Orlando for work and was wondering if my typical monorail resort sequence is still worth it.
If you’re staying at a Disney resort make sure to ride the Skyliner. Eat at Fort Wilderness (Tom has a blog on this somewhere) and see the new ranch, take a walk around the area, grab a boat ride from there to the Magic Kingdom. Then use the new paths for walking. There are many resorts where you can have a meal and then take a friendship ride. There’s horseback riding if you’re under 150 pounds. I don’t golf but I enjoy miniature golf. That’s fun if you’re with someone. You can get an outside table at Beaches and Cream, then after eating walk around the Boardwalk then walk over to the Skyliner / Friendship both available by the back door to EPCOT. These are just a few ideas. Good Luck!
I know Disney needs to increase numbers for sustainability and I know I am in a minority but I am enjoying the lower crowds and social distancing – it doesn’t bother me having to make reservations before going and the masks certainly don’t bother me (I have spent a year working 12 hour shifts inN95 masks and full PPE caring for covid patients)
being a local frequent visitor we don’t usually do the parades or fireworks anyway. if masks become optional I will continue to wear them ( saves money and time not having to put make on!!) As has been said elsewhere i will miss social distancing if it goes away as not being knocked about by others oversized backpacks has been the biggest plus through this pandemic!!
Thank you for all you do, I’m thankful for our healthcare heroes! <3
I’m with you GC, this has been perfect for me and I love being creative with matching my masks to my outfits. Also repeating what Katie said — THANK YOU for your care!
We have a rescheduled trip planned for June. I have no doubt there will still be masks but do you anticipate at least some relaxing of the rule, especially outdoors? I have no issues with masks in air conditioning and in queues, but if you are able to get a breather a little in the summer heat, that would be great!
I strongly suspect masking will be one of the last restrictions to be relaxed, as it has no real impact on capacity. I’d be surprised to see masking relaxed until the fall.
I would expect a full mask rule to still be in effect by June. The best they could do is create a few more “relaxation stations” around the park. Even at 35% capacity, you are still awfully close to other visitors, so I think even outdoors it will still be required.
The evidence now strongly points to a very slow return to normalcy.
Whether he was talking about fiscal 2021 or calendar 2021, doesn’t really matter.
Essentially, the expectation is that things will remain pretty restricted through late 2021, with a return to greater normalcy in 2022. Vaccination rate will affect the speed and timing of transition. Critically, he talked about an overlapping period with herd immunity: That suggests to me, you won’t see a significant return to normalcy as herd immunity gets closer — instead waiting until we actually achieve herd immunity.
We do not know when we will hit herd immunity. The most optimistic scenarios don’t place it before July/August, with September-December estimates being most realistic.
So what does this all mean? As Tom has stated elsewhere, change at WDW is like turning a large ship, not flicking a switch.
We will almost certainly *some* transition over the spring and summer — A version of FOTLK is returning by summer. Early Entry will likely start at some point. A fair chance Ratatouille opens. More hotels will open. Maybe a bit of night time entertainment returns, more restaurants return.
But major normalization won’t begin until the fall at the earliest. Fastpasses, dining plans, full entertainment, full capacity dining — I wouldn’t expect to see any of that until September/October at the earliest. I wouldn’t be surprised to find Christmas 2021 to be in the midst of normalization transition (social distancing reduced or eliminated, but masks remain.. most dining back, but still no buffets. Modified character meets in place, but still not the old normal character meets)
Basically… whether he was using fiscal or calendar years… I don’t expect a switch to suddenly be flicked on October 1st or January 1st.
A slow transition to normal is already happening — It’s just very very slow. I suspect that *around* October 1st (whether a bit before or a bit after), that transition will speed up depending on vaccinations. And I suspect that January 1st will still be a period of transition. If we hit herd immunity by August/September, WDW may be getting back to normal by Jan 1. If we don’t hit herd immunity till November, January may still be somewhat early in the transition process. If we never hit herd immunity…. (a distinct possibility), then WDW will ultimately transition to a more permanent new normal.
Well said. I think the timeline in the blog assumes no setbacks. I think we are looking at new setbacks in terms of new strains that may be resistant to vaccines, getting people to take the vaccines in large enough numbers to get herd immunity etc etc.
We’ve got a looong way to go.
Just to comment on the below response–Pfizer and moderna work on all the strains, and demand for the vaccine is increasing. I know this has been a long miserable slog, but I don’t think we need to be quite so pessimistic! This has been tough but there is light at the end of the tunnel here, and I think people need to hear that.
Actually, I am fairly optimistic, but open to all the scenarios.
But I do think we are going to have an issue with adoption of vaccine. Right now, there is far more demand than supply. Because there is strong demand from 40-60% of the population. But once that 40-60% get vaccinated, it may become very slow to vaccinate more people.
I strongly suspect that in 3-5 months, we will start having painful political debates about mandatory vaccinations, echoing prior debates about masks and lock downs.
Hopefully we can get to herd immunity with purely voluntary vaccination. But if it turns out we need 80% to get herd immunity, but only get 60-65% voluntary vaccination rate…. It’s going to be hard.
There is also a strong likelihood of periods of uncertainty. We now know that the virus transmission is indeed seasonal, spiking much higher in late fall, then dropping into the Spring and Summer.
So combining growing vaccination with seasonality, we may see very low virus numbers by summer. But until we hit October/November, we won’t really know whether we are reaching herd immunity or whether we are just still going to see a huge fall spike.
Combine all the factors…. even the optimistic view looks like, if we remain cautious, we won’t be able to take *major* steps to normalization until the fall, at the earliest.
I don’t understand the focus on herd immunity. Once a vaccine is available to anyone who wants one, wait a month or two, then open everything and get back to normal. At that point, it becomes a personal choice, just like taking the flu vaccine. We don’t insist on herd immunity from the flu. It is with us every year, and people decide if they will get vaccinated or not. And we all continue living our lives. Covid should be no different. So I’m pretty annoyed that Disney is insisting on herd immunity because it will never happen. It doesn’t happen for the flu either, but we all go on with our lives. The hospitals don’t get overrun so it’s a not a concern. Yes covid is more deadly than flu, but again, there will be the option to get a vaccine. So if you’re okay with the higher risk, and all the hospital workers are vaccinated to be protected from your sickness, then that’s your choice. At that point, open all businesses to full capacity and move on. Forget herd immunity. I just don’t get it…
In response to Disney Fan, I agree that it seems like herd immunity shouldn’t be a goal for Disney, but rather widespread vaccine availability. Once everybody can get the vaccine if they want to, it would seem like it is their own responsibility to protect themselves before to Disney World, and no longer Disney’s responsibility to protect them from something that is not their fault. We get sick in Disney World almost every time we go, but we accept it because it is a crowded place and that’s the risk or consequence one must deal with.