Euro Disney posts record losses following Paris attacks

Internationally the company is struggling as audiences leave TV behind...

Euro Disney posts record losses following Paris attacks

Michel Euler AP/Press Association Images

This Sunday marks one-year since jihadists carried out a number of attacks across the French capital - and the city's tourism industry has been in a slump ever since.

Euro Disney, one of the city's main tourist attractions, has taken a big hit. During its financial year which ended in September, group turnover fell by 6.91% to almost €1.27bn.

"Disneyland Paris had an exceptionally challenging year. We have been impacted by various external factors that have significantly affected the tourism business in the Paris region," Euro Disney president Catherine Powell said in a statement.

PA

Euro Disney added that the company in constantly investing in upgrading the park and that it faced, "the costs of additional security measures" - this contributed to its poor results.

The volume of visitors coming to the theme park fell by close to 10%.

"Despite this challenging environment, we are encouraged by the attendance of over 13 million guests that visited the parks this year and by the improved satisfaction ratings for our newly renovated hotels and attractions ... we are looking forward to sharing unique and magical new experiences with our guests," she concluded.

The city recently launched a new charm offensive to help tourism numbers to improve.

"We haven't recovered ... The impact is lasting and completely unprecedented.... Many small businesses are on their knees," tourism chief for the Paris region, Frederic Valletoux said last week. Paris tourism revenues are set to be €1.5bn lower this year.

The bigger picture

Disney's global revenue fell by 2.7%, to $13.14bn in its fourth quarter.

Its cable business has struggled as a new generation 'cuts the cord' and stops watching traditional TV - favouring online alternatives.

ESPN, the company's big money sports network, has seen an alarming fall off in subscribers - its revenues dipped by 7% during the quarter.

However, its film studios have continued to earn-big at box offices around the world.

Jungle Book and Finding Dory were hits with younger crowds - while Star Wars: The Force Awakens generated more than $2bn.