Disney hiring tumbles, but at least people are flocking to Disney Plus
The Walt Disney Company ($NYSE:DIS) has been trying to lift our spirits for almost a century now, and yet its biggest obstacle to that goal came when a global pandemic forced everyone to stay indoors and practice social distancing. A lot of things are going to change this year for society as a whole, and businesses will have to stay on their toes to stay afloat.
Disney is in a particularly precarious position, since it had to close down its theme parks, hotels, and shops recently due to the Coronavirus. Major blockbuster releases like Mulan and Black Widow had to be delayed as movie theaters around the country shut down, and all of this sits on the shoulders of a brand new CEO.
So how is the House of Mouse coping with all of these challenges?
Hiring is down 23% since the virus began to spread. There might be a reckoning with employees soon, as the company has to figure out what to do with the thousands of people not coming into a theme park, Disney Store, or film set to work this month.
The lone bright spot is Disney+, the streaming service that got Frozen 2 a few days early, easing the burden on parents working from home with their children also home from school. We don't have subscriber numbers (it's incredibly hard to get a company to publicly release those figures) but we can see that the past few months have seen an increase in Twitter ($NYSE:TWTR) followers by 36%. Things will become more reliant on Disney+ once Star Wars: The Rise of Skywalker releases early on the platform as well.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.