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With lower theme park attendance and the lowest dip for Walt Disney Company stock in years, Disney CEO Bob Iger hopes to make a change.
Disney Decline
The Walt Disney Company has seemingly had the “Midas Touch” for decades. People flocked to the Theme Parks and Disney reveled in Box Office hits over the years. It almost seemed as if nothing could affect this company.
In 2020, the entire world shut down including travel and entertainment. Even after these closures and setbacks, the Walt Disney Company bounced back. With the beginning of the 50th Anniversary of Walt Disney World to the reopening of all Disney Parks and Cruise Lines around the world, it appeared to be a “Happily Ever After.”
Unfortunately, the Walt Disney Company has had a tumultuous few years. At the end of August, the Walt Disney Company’s stock reached not only a year low, but it’s also the lowest stock valuation since 2014!
Iger Speaks Out
Senior Executives, including Bob Iger and Josh D’Amaro, are meeting with Wall Street analysts and investors this week for an investor summit. The summit, taking place at The Walt Disney World Resort in Florida, will focus on Disney’s Parks business. During this meeting, Iger shared the big plans set for Disney Parks.
According to Reuters, CEO Bob Iger told investors the company will “quiet the noise” in a culture war that has pitted social conservatives against the global media and entertainment conglomerate.
Part of the “noise” that Iger hopes to quiet is the ongoing legal battle with Florida Governor DeSantis. Bob Iger shared that he feels as though the Walt Disney Company did not handle the response to the Parental Rights in Education Law in the best way. In the same breath, he justifies the current lawsuit Disney finds itself in.
Another area of “noise” is with the newest entertainment content. Recently, KtP writer, Susan, shared that Disney+ is now seeking subscribers to join their “Stream Team.” Questions regarding political views and basic demographic questions were quite interesting. Perhaps this new “Stream Team” will bring positive changes to Disney+ and new entertainment content.
This proclamation of Iger to “quiet the noise” is quite vague. It will be interesting to see how the Walt Disney Company hopes to turn the company around in the coming months and years.
CEO Bob Iger told investors the company will “quiet the noise” in a culture war that has pitted social conservatives against the global media and entertainment conglomerate.
Reuters
What do you think of this promise from Bob Iger? Do you think the Walt Disney Company should remain more neutral? Share your thoughts and share this news with your Disney pals.
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Eric M Blake
Friday 22nd of September 2023
At this point, what Iger NEEDS to do is call up the governor, and the two of them agree to withdraw all lawsuits--including all from and against the new Reedy Creek leadership. Then they all head to Tallahassee, Iger kisses DeSantis's ring, and they all--Iger, DeSantis, and the district leadership--hammer out a new agreement. A "New Deal," if you will. Then they all do a big press conference where they all sing kumbaya and all look like heroes and smell like roses. Iger and DeSantis take a picture together shaking hands and smiling at the camera...and all is well that ends well.
That should've been done the moment Iger came back, but it is what it is.
JW
Thursday 21st of September 2023
He's also, at this point, had plenty of time to do something to turn things around...so stop talking about it and fix things!
RandyC
Thursday 21st of September 2023
Bob Iger is exactly like my younger sister. Right after my parents would tell us to knock it off during our many squabbles, a millisecond before we would each walk away, my sister would blurt out, "he started it," "it's all his fault," and things would crank up again. Same with Iger. "Of course we will quiet things down. And this big law suit? It's all their fault." I hope Disney is paying my sister well for her conflict resolution coaching.
RandyC
Wednesday 20th of September 2023
Iger said he would quiet things down between Disney and the State of Florida when Iger returned as CEO. Iger then filed a big lawsuit over Reedy Creek about 10 days later. So much for quieting things down. Disney must return to what they were excellent at, family and children entertainment. Forget the political agendas, forget the extreme LGBTQ advocacy in your new creative content. Disney's success depends on its new creative content being good entertainment and therefore a draw for kids and families to want to go to WDW to see new characters and buy new merchandise. All the political messaging ruins the movie. Get back to basics, Disney.
Rob Hunter
Wednesday 20th of September 2023
If Disney has not destroyed the actual ambitions and creativity and values of Walt Disney yet, they need to dig it out and get back to it. Walt Disney was not a perfect man, but his vision and values have carried this company to the highest levels. That vision and those values must be restored as the majority of the population desires it.