Disney’s inability to produce new hits at the box office has led to its dramatic fall from grace in recent months. As a result, parents and children are no longer flooding theaters to see the newest Disney-produced movies.
Just two years ago in 2021, Disney reached stock highs soaring over $190 a share. Today, the stock hovers right around $80 a share, and the decrease is only continuing.
Bob Iger, the new CEO of Disney, was expected to turn the direction of the company around, however, “things aren’t going to plan,” said Iger, who recently spoke to CNBC, revealing some of the company’s struggles. “In some ways, the challenges are greater than I anticipated,” said Iger. Many people have stated that the Disney brand, including ABC, ESPN, Marvel, Pixar, and many more companies, has become too political. Movies such as Pixar’s Lightyear have flopped at the box office after complaints about progressive topics in children’s movies.
After asking student, Alex Willard ’24 about the state of Disney, “I watch old Disney movies sometimes, but I rarely go to theaters to watch new Disney movies aside from Marvel, he replied” This further proves younger people are not happy or not engaged with recent Disney movies and parents are no longer heading to theaters looking for Disney to entertain their children.
Multiple articles and news outlets are not only reporting a dramatic stock fall according to New York Times. They also report a major stepback in foot traffic at Disney-themed parks. Theme parks, a major source of profit for Disney have seen a recent decline in travelers visiting likely because the brand failed to reinvent itself in the modern entertainment space.
Bob Iger, CEO of Disney, has a net worth of $690M and has been the CEO of Disney for two stints of over fifteen years. Disney’s value has recently dropped from $357.24B in 2021 to just $148.67B as of today, a staggering decrease for a company said to be unbreakable. Disney also has a multitude of movies coming soon, including Wish, Elio, Captain America: Brave New World, and Mufasa: The Lion King. The hope is that these movies will fill seats in theatres again and replenish Disney’s stock.
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