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

[lowbudget]

We weren't but "waiting to see how the economy is doing before proceeding" is not a good sign.

I read that as cash flow. Wait to see how attendance rebounds, and how much money they are pulling in before giving it the green light again. I think they've got too much invested at this point not to continue, but they may hold cash reserves until they are sure they wont need them just to stay afloat.

Also, they could be waiting it out, if the economy tanks they might be able to reduce construction cost by 20% just by waiting a year for the contractors to start getting hungry. That's an unlikely scenario, but if that idea hasn't been floated across a boardroom I'd be highly surprised.

Just my interpretation.

 

[JungleSkip]

Oh, I see what you mean. That definitely has dire implications but I don't know what else they could say. Every industry has said something similar: wait till this disappears and reassess the situation then, when global economic stability is a less fluid entity.

I mean a week ago it was "pushed back a year". Now it's "eh we'll see if we start back up".

That's some pretty aggressive backsliding.

 

[Parkscope Joe]

There’s such a large discrepancy between what the CFO and what everyone in the parks division something is up.

 

[JoeCamel]

I mean a week ago it was "pushed back a year". Now it's "eh we'll see if we start back up".

That's some pretty aggressive backsliding.

I think they expect the economy to rebound in a year but are not committing to it and leaving options open. I don't think anything changed.

 

[Teebin]

The current conversation calls for this clip:

 

[Brian G.]

I mean a week ago it was "pushed back a year". Now it's "eh we'll see if we start back up".

That's some pretty aggressive backsliding.

Eh. I wouldn't start down that path of thinking just yet. A yellow flag for sure, but I'm thinking it was just meant as a traditional nothing comment.

 

[UniversalRBLX]

Nothing out of the ordinary for a company who wants to make the right long-term decision.

 

[OLSinFLA]

It wasn't supposed to show in theaters until October 2021 (which meant not on Disney+ until roughly March 2022) and clearly it's ready now. They were holding it so that the shows could continue making money and by October 2021, most of the tours were going to be coming to an end anyway. Right now there's no start date in sight for Broadway, West End or any Touring productions, so this is the optimal time to bring Hamilton home. This will help tide over fans who maybe had tickets to see the show and will be a fun thing for fans who never got to see the OBC or maybe just has never seen the show period.

There has always been a worry (from the money people; Lin has been talking about this since 2016-ish) about giving the show to people in their homes though since it still commands such high ticket prices. If people see it for virtually free, then what reason do they have to pay upwards of $500 for a ticket? Obviously fans will, but will the GP? This is Broadway's biggest crossover to mainstream since Rent i'd say and if they lose some of the GP, then that means they can't charge as much. Or perhaps this will have the inverse and only create more demand now that the 55 Million and counting on Disney+ will have access to it.

Also, as stated in the Hamilton thread, Disney got more than just the rights to this live version for $75M. The got exclusive right to any future Hamilton related content, including a potential Hamilton movie. They also have the distribution rights for the live music from this current film and music from any potential movie in the future. I think in the long run Disney more than makes their money back on the $75M.


A horror movie like that is normally a quick shoot, but if they go into production, they damn well better make sure everyone has a mask on set except for the actors when rolling. Similar to a professional sports or to theater, illnesses running through the cast and crew on movie sets is pretty common.

My point is HAMILTON gets no extra money from it showing on Disney+ And while Disney gets a lot of rights, it's still going to be less than what they would have gotten (And music sales are not counted as income for the film, but for the record division).

 

[JungleSkip]

Eh. I wouldn't start down that path of thinking just yet. A yellow flag for sure, but I'm thinking it was just meant as a traditional nothing comment.

I hope so, but it seems far more definitive than most kick the can answers.

I tweeted at the reporter to see where the quote came from, but no response so far

 

[Brian G.]

I hope so, but it seems far more definitive than most kick the can answers.

I tweeted at the reporter to see where the quote came from, but no response so far

I think any sane company would be saying the same thing during the pandemic. Watch trends, play it safe and say the most vanilla answers that can't be held against them. If we take the comment at face value, I'd lean towards another construction delay instead of anything along the lines of cutbacks/cancelations/other adjustments.

 

[JungleSkip]

 

[Cup_Of_Coffee]

More hoping thats just her hyping her story up rather than there being anything more than what she already tweeted out. I wouldn't be shocked if it gets delayed to 2025, I feel a cancellation is going to be difficult since they have so much land bought, but delays I would not be shocked to see continue but we shall see I guess.

 

[Brian G.]

Just adding to my previous thought - the quote also could be as simple as a reference to the timing on when they decide to feel comfortable unpausing construction.

 

[Scott W.]

It seems like they're just playing it safe.

Even though it feels like we've been dealing with COVID for years now, we're still far too early in the process.

 

[JungleSkip]

Just adding to my previous thought - the quote also could be as simple as a reference to the timing on when they decide to feel comfortable unpausing construction.

I guess my trepidation is this "pause". I was under the impression that they're still doing work.

 

[JungleSkip]

Epic Universe theme park construction in Orlando won’t resume until the economy bounces back, Comcast official says

Comcast leader give more insight into their decision to stop construction at Epic Universe. It's unknown when construction will start back up again.

www.orlandosentinel.com

Willing to bet we're looking at longer than a year delay, at the very least

 

[Brian G.]

Epic Universe theme park construction in Orlando won’t resume until the economy bounces back, Comcast official says

Comcast leader give more insight into their decision to stop construction at Epic Universe. It's unknown when construction will start back up again.

www.orlandosentinel.com

Willing to bet we're looking at longer than a year delay, at the very least

So basically, when the economy isn't crap, it's back on track.

 

[Parkscope Joe]

“When asked, Cavanagh stressed Universal is delaying the project, not rethinking whether to do it at all.
“The confidence is high," he said. "It’s a great project.””

So nothing new just a new person saying it. Still looking at a year from what i hear.

 

[Brian G.]

Willing to bet we're looking at longer than a year delay, at the very least

Or just the year...

 

[JungleSkip]

Or just the year...

Unless the economy continues to suck and then not just the year. lol

All I'm saying this far more ominous than "it's delayed a year". As we saw after 9/11, it's really easy to go from "delayed" to "cancelled".