Get the latest market trends in your inbox
Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul
Tampa-St. Petersburg news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg
Disney's kingdom is losing its magic to the coronavirus pandemic.
Why it matters: Analysts point to Disney's healthy balance as proof that the company will weather the storm, but its experience dealing with coronavirus will fundamentally alter the way the nearly 100-year-old business operates moving forward.
Driving the news: A services union group said Sunday that Disney would furlough over 43,000 of its 75,000 employees of its Walt Disney World theme park.
- Disneyland and Disney World shut last month over the outbreak.
The big picture: Several of Disney's blockbuster films have been postponed as theaters remain shuttered. The production of other Hollywood titles is being put on hold as social distancing measures are in place.
- Disney cruise lines extended some of its temporary sailing suspensions. The company has closed most of resorts worldwide and many stores.
By the numbers: As a result of the pandemic, Disney's stock has dropped nearly 30 percentage points as of Monday from its peak in January.
- Its stock price gas reached its lowest point since 2014, erasing six years of gains that have mostly been fueled by box office dominance.
- Disney has begun increasing its access to cash so that it can weather the storm.
Between the lines: Despite the fact that TV consumption is up, Disney's flagship sports network ESPN is also being impacted by the crisis.
- On Monday, ESPN said that it's asked its 100 highest-paid commentators to take a 15% pay cut over the next three months.
Yes, but: Despite these challenges, Disney+, is flourishing as families stuck at home look for easy ways to entertain their kids.
What's next: Bob Iger, who in February announced his retirement as Disney CEO, has re-engaged with the company amid the coronavirus pandemic, N.Y. Times media columnist Ben Smith writes.
- Per Smith, Iger is helping to craft a response to the crisis to address Disney's future, including reopening the company with less office space and ending glitzy and expensive old-school television practices like TV ad upfronts.
Go deeper: Disney World furloughing 43,000 workers following coronavirus shutdown