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Credit: Inside the MagicIt’s been a tumultuous few years for The Walt Disney Company.
Former CEO Bob Chapek waged war with Florida Governor Ron DeSantis over the Parental Rights in Education Act (“Don’t Say Gay”). He purchased 20th Century FOX and other notorious media brands, pulling focus from Disney Parks to Disney+ streaming. Chapek seemed to outrage fans with every move. The unpopular executive was ousted in November, and retired CEO Bob Iger returned to lead Disney.
Iger vowed to bring House of Mouse back to its former glory. But he has a long road ahead of him. As copyrights expire for beloved characters like Mickey Mouse, the streaming business is in shambles. Walt Disney World Resort attendance is historically low, and DeSantis continues attacking the Central Florida Theme Park as a court battle looms. Stock prices are unstable as ever, with some audiences boycotting what they call Disney’s “woke” agenda.
This week, fans on Reddit discussed their concerns about the company. Some called reports of financial turmoil exaggerated, while others warned that the risk of Disney dying was very real.
“Disney has screwed up. People are tired of preachy politics and want to be entertained,” said u/texas_archer. “Unfortunately, they have tied themselves to unions and employees who believe in pushing an agenda no matter the cost to the bottom line. When their shows fail, they blame the people for being ‘phobia’ against whatever agenda they were pushing. People want to be entertained, so get back to basics and see the profits increase.”
“Market is just more saturated with streaming content and services + Theme Parks are expensive given the crazy cost of living increases we’ve seen,” u/x_godhatesjags_x argued. “I’m sure Disney didn’t look too hot the last recessions either but it’s temporary. I bought more stock recently because the price is so low. It’s an institution that’s not going away any time soon.”
Others worried more about viral rumors that suggest Apple may purchase The Walt Disney Company.
“I’m more concerned with the company being sold,” u/Confident_fill378 wrote. “Apple often comes up as a potential buyer. Walt will be rolling in his grave if this ever happens. It will truly be a very sad day!!”
But most fans found themselves somewhere in the middle.
“Stock price is down about $100 since March 2021, almost 50%,” u/Ok_Beat9172 said. “Like a few other companies, Disney spent a ton of money on streaming content and it isn’t paying off. Plus, those companies they bought were not cheap. Not saying the parks will close, but I don’t think the financial house is as strong as they would like.”
“The Disney Company is in a tough spot right now for sure, but they’re nowhere near the point of dying,” u/Murky_Doughnut_9927 agreed. “The Parks are their most lucrative asset, and I’m positive if it came to a point where the company was sold off, the Parks division would still be managed by Disney or another billionaire company – it’ll never close permanently. Disney has made it through dark times before, this current situation feels like more is at stake because of how polarized everything in culture has become lately.”
Are you happy with Bob Iger’s leadership? Share your thoughts with Inside the Magic in the comments.