After putting all their eggs in the 2019 basket, all expected a down year for Disney in 2020. It's no surprise that, despite it being still early, it's ringing true so far this year. Other studios came out the gate stronger than usual but still, there's a widely held sentiment that Disney will eventually be the #1 studio in 2020 in terms of boxoffice revenue. Are we sure Disney will win the year with Eternals, Soul, Artemis Fowl, Mulan, and Black Widow (and the untitled November animated release)? Can't speak for international but domestically, it's not guaranteed they'll beat Sony / Warner Brothers with that lineup.
Also, even if the COVID-19 outbreak plateaus in the next few weeks, their theme parks will feel the aftershocks for months, and see depressed attendance. Not to mention the cruise line.
Right now Disney+ is still more of a cost center due to the upfront costs. And besides Baby Yoda, there isn't much beyond their legacy product. ESPN is still dragging earnings.
Right now their businesses are very much exposed to anything that limits going outside and they're not the unassailable behemoth that I grew accustomed to thinking of them as. They also have new leadership after very successful runs by Iger and Eisner so there's uncertainty there.
Where do you see Disney going over the next 5 years?