Disney's Streamers Are Lone Bright Spot in Quarter as It Takes $1.4 Billion Covid-19 Hit

Pandemic shutdowns substantially dented parks revenues and led to a 'significant' decline in ad sales

Media and entertainment companies of almost all stripes are facing unprecedented challenges due to the novel coronavirus pandemic and its related economic headwinds. For Disney, the fallout from Covid-19 resulted in a $1.4 billion income hit in its most recent fiscal quarter.