Indiana Jones and the Dial of Destiny is a large bomb. Elementals was one of Pixar’s worst openings of all time. Disney is in trouble. Its wokeness is going burst. And the man at the top will stay on until 2026. The Walt Disney Company’s 2022 box office grosses are the worst the company has posted in almost two decades. Not only are the grosses the worst in nearly two decades but just since 2019 the company has seen their grosses decline nearly 70 %. That was Bounding Into Comics. But yet Variety, repping the typical Hollywood press, has bad news for Disney. But this year, the huge – reigning titan of the box office has shown cracks as four of its biggest releases from those brands and others have struggled in theaters. There was the dispiriting release of” Ant – Man and the Wasp: Quantumania”, a rare Marvel movie to likely lose tens of millions in its theatrical run,” The Little Mermaid”, a remake of the 1989 animated classic that fell drastically short of expectations,” Elemental”, an original story that tried and failed to recapture Pixar’s magic, and most recently” Indiana Jones and the Dial of Destiny”, a nearly$ 300 million investment in one of cinemas ‘ most venerable franchises, which no longer appears to have the same hold on today’s audiences. Variety won’t touch the W – word, but Disney has spent years setting the IP it built its business model about. Then that business model is in trouble. And through at Disney, that means it’s time to make Bob Iger, the man behind this disaster, CEO for life. The Walt Disney Co. announced that CEO Bob Iger has agreed to stay in his position with the company through the end of 2026.
In a news release posted Wednesday, the company said its board of directors voted overwhelmingly to extend Iger’s contract by two years. Iger, 72, returned to the company next November after earlier stepping down in 2020 following a 15 – year tenure as CEO.
The company said Iger’s extension provides” continuity of leadership” during its” continued transformation”. It added that the move will give the company more time to execute a transition plan for CEO succession, which it noted is a major priority for the board of directors.
” Time and again, Bob has shown an unprecedented ability to effectively transform Disney to drive future growth and financial returns, earning him a reputation as one of the world’s best CEOs”, Disney Chairman Mark G. Parker said in a statement. Only his unmatched ability to destroy IPs can compare to his unprecedented capacity to milk them. Disney bet everything on streaming, but it doesn’t work. It used IP, but its Marvel properties are waning, it’s having trouble releasing new alive series, and it can’t handle a Star Wars film. That is all very terrible news. Additionally, its theme park industry has been tainted.
In addition to fighting Wall Street’s unrest over the unprofitability of Disney +, worries that the parks industry may have turned off customers with its higher prices, and a rise in cord cutting that is endangering its cable properties like ESPN, Bob Iger, who took over for Bob Chapek after stepping down as CEO, is also facing these issues. The men dressed as princesses aren’t helping, and neither are the higher prices. The typical lengthy lines are vanishing. This summer’s Disney theme park visitors will experience elbow room, which is something they haven’t seen in a while.
According to travel analysts and advisors, this summer, traffic to Disney’s U.S. parks and some foe parks has slowed. According to data from a travel agency that monitors line-waiting times at Walt Disney World in Orlando, Florida, the Fourth of July weekend was one of the slowest in almost ten years.
Disney’s U.S. parks are expected to produce weaker revenue this year, according to executives. Yet during the busiest time of year, around Christmas, the Orlando-area resort offers hotel discounts. The Disney board therefore rejects the idea of fresh leadership. Why was Iger permitted to stage his coup and falter in the face of awakening? Kathleen Kennedy from Lucasfilm is not more likely to be fired than Bob, despite rumors that Disney will fire her after she made the decision to make her stand-ins the star of every franchise, including the most recent Indiana Jones. The Disney leadership is when engrossed in wakefulness as the old Soviet Union’s leaders were in communism. Before they are overthrown, there will need to be a great deal more brokenness, just like there was in the USSR.
Indiana Jones and Dial of Destiny was a huge bomb. Elementals is one of Pixar’s worst openings ever. Disney is in trouble. Its wokeness has gone bankrupt. The Walt Disney Company’s 2022 gross box office is the lowest the company has seen in nearly two decades. Not only have the grosses dropped by nearly 70% since 2019, but they’ve also been the lowest in nearly two decades. That was Bounding Into Comics. Variety, which represents the usual Hollywood press has bad news about Disney. But this year, the long reigning titan of box office has shown signs of cracks, as four of its most popular releases from these brands and others have struggled at theaters. The dispiriting release of ‘Ant-Man and the Wasp Quantumania’, a rare Marvel film that will likely lose tens of million dollars in its theatrical run, “The Little Mermaid”, a remake of the ’89 animated classic that fell far short of expectations, “Elemental”, an original story which tried and failed at recapturing Pixar’s magical charm, and most recently, ‘Indiana Jones and the Dial of Destiny’, a nearly $300- This business model is now in trouble. Bob Iger is the man responsible for this disaster. It’s time to make him the CEO of Disney for life.
In a press release published Wednesday, the company announced that its board of directors unanimously voted to extend Iger’s contract by two more years. Iger, 72 years old, returned to the company in November last year after stepping down as CEO in 2020.
The company said that Iger’s extension will provide “continuity of management” during its “ongoing transformative process.” It also added that this move will give it more time to implement a transition plan for the CEO succession. This is a priority for the board.
Disney bet on streaming, but it’s not working. It leveraged its IP, but Marvel properties are beginning to falter. It’s also having trouble launching original animated properties and it can’t handle a Star Wars film. All of this is bad news. The theme park business is also poisoned.
The men dressed as princesses and the higher prices aren’t helping. The usual long lines are disappearing.Visitors to Disney theme parks this summer are encountering something they haven’t seen in a while: elbow room.
Travel analysts and advisors report that traffic to Disney’s U.S. theme parks and some rival parks has slowed down this summer. The data from a travel agency that tracks the time it takes to wait in line at Walt Disney World, in Orlando, Fla. shows that the Independence Day Weekend was one of the slower in the past decade.
Disney executives have stated that they expected lower earnings from their U.S. Parks this year. Why does the Disney board not consider new leadership when the Orlando-area resort offers hotel discounts around Christmas? Why was Iger allowed his coup to double down on wokeness and stage his coup? While people fantasize about Disney firing Lucasfilm Kathleen Kennedy because she made her stand-ins star in every franchise, including the recent Indiana Jones film, she is no more likely to be fired than Bob. It will take a lot more brokenness to overthrow them, as it did in the USSR.
