Disney Company Makes Surprise Comeback After Ugly 2023

in Disney, Entertainment

Walt Disney Company CEO Bob Iger in front of Cinderella Castle

Credit: Inside the Magic

Following months of disappointing results on Wall Street, The Walt Disney Company is starting to bounce back.

Walt Disney Company CEO Bob Iger looking at Disney Brand Image with Castle and Logo
Credit: Inside the Magic

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The Walt Disney Company’s stock price is hovering around $95.00, a stark increase over the last few months. At the start of January, Disney’s stock price sat around $91.00, marking a 0.27% decrease over the previous five days and a 1.47% decrease throughout the month of December 2023. With the stock picking back up this week, The Walt Disney Company is slowly approaching the $96 mark, the highest point the company has seen in over six months. Disney stock has already climbed a whopping 4.8% since the start of 2024.

There’s no doubt that The Walt Disney Company faced a plethora of issues in 2023, ranging from theme park struggles to financial troubles at cinemas. Disney’s recent feature films, like Indiana Jones and the Dial of Destiny (2023), Wish (2023), The Marvels (2023), and Haunted Mansion (2023), all failed to resonate with audiences, resulting in lackluster box office results. Like a lot of businesses, it also seems as though The Walt Disney Company never truly recovered from the unprecedented outbreak of COVID-19 in early 2020, which managed to affect every part of the company, from moviemaking to theme parks.

Disney also faced a heap of legal and political turmoil thanks to continued threats from Florida Gov. Ron DeSantis. The outspoken governor spearheaded a campaign against Disney in 2023, attacking the company over its stance on the state’s controversial Parental Rights in Education Act. A multitude of conservative speakers, politicians, and lawmakers hurled threats toward Disney, and some sought to end Disney’s special protections over copyrighted material as well as the removal of Disney’s Reedy Creek Improvement District (RCID).

The former Reedy Creek signage inside of Magic Kingdom Disney Park in Disney World with Ron DeSantis looking shocked.
Credit: Inside The Magic

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DeSantis led the charge, going after the RCID in Florida. This special ruling was instituted decades ago, allowing the Walt Disney World Resort in Florida to operate as its own form of limited government, which resulted in speeding up construction and developmental projects. Disney ultimately did lose ownership and control of this district, with DeSantis hand-picking new board members to take over. The RCID is still in operation, though with new rules and regulations as well as a new name, now being called the Central Florida Tourism Oversight District.

However, the year ahead looks to be an incredibly promising one for The Walt Disney Company, with plenty of new and exciting things expected to arrive in 2024. One of Disney’s most talked about projects is Tiana’s Bayou Adventure. This brand-new attraction acts as Disney’s answer for its now-defunct Splash Mountain attractions on both coasts, with Walt Disney World’s version expected to open first.

What are you looking forward to in 2024? Will you be visiting the Disney theme parks soon?

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