Why is Disney thinking about leaving Florida?

The Walt Disney Co. said it is pulling out of a roughly $1 billion investment in Florida, citing changing business conditions. The media and entertainment giant announced the move amid a year-long feud with the state's Republican governor, Ron DeSantis, after Disney publicly opposed his bill to limit instruction on ...



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So, would Disney ever leave Florida? While we never say never, the answer to this question is almost unequivocally no.

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It comes as another story out there is claiming Disney World is planning to get out of Florida altogether and relocate to Atlanta. But that's fiction. The story was a satirical article published by the website Medium. Disney has not announced any plans to relocate theme parks to Georgia.

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It would certainly hurt the state of Florida. The government would lose all the tax revenue. People who work at Disney would lose their jobs. There are many companies that only exist because of Disney or that get a lot of their business because of Disney, like hotels near the park.

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From ongoing battles with Florida Governor Ron DeSantis and his board appointees to subscriber losses on its streaming platform, Walt Disney leadership may be wondering if they've unknowingly fallen under a dark curse. And now, to make matters worse, its theme parks are dealing with declining foot traffic.

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The closure of the Orlando-area Disney parks has only happened eight times before now, according to media reports: For Disneyland, the two parks, Disneyland and Disney's California Adventure, will close at midnight tonight and will stay closed until next month.

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Disney said it reduced its streaming losses to $387 million in the three months ending in September—its fiscal fourth quarter—down from $1.47 billion in operating loss last year. The company said it still projects that its streaming business will be profitable by this time next year.

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--> No. Apple almost never buys name-brand companies. Its largest takeover was 2014's $3 billion deal for Beats Electronics.

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Disney will replace Splash Mountain with Tiana's Bayou Adventure, starring a Black princess and New Orleans - Axios New Orleans.

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nope. Honestly, this is a rumor that has spread multiple times in the Disney space, so we wanted to debunk the rumor. Disney is not planning to make a move to Texas or to build a theme park in Texas anytime soon.

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Disney World does wonders for the Florida economy. According to a 2011 report, “The $18.2 billion in annual economic activity generated locally by Walt Disney Parks and Resorts accounts for 2.5 percent of Florida's gross domestic product.”

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While Disney does not disclose the exact figures for daily revenue, industry experts estimate that Disneyland generates around $75 million to $100 million per day. This staggering amount includes ticket sales, food and beverage purchases, merchandise, and other ancillary revenue streams.

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River Country is one of only two Disney parks to permanently close, along with Discovery Island, which is situated parallel to the water park.

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One factor is that people may be less interested in theme parks. From what we're seeing with our bookings, that pent-up demand has somewhat transitioned to cruises and Europe, Greg Antonelle, the co-owner of Florida travel agency MickeyTravels, told the Journal.

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A broad restructuring Iger launched after returning to Disney's helm last fall eliminated 7,000 jobs. The company swung to a net loss of $490 million for its fiscal fourth quarter from a $4.1 billion profit the year before.

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With costs so high, it's no wonder why many families find it difficult to afford a Disney vacation. A recent LendingTree survey found that 18% of Disney visitors have gone into debt for one or more of their trips to the destination. And among those with Disney debt, 8% say it will take more than a year to pay it off.

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