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Credit: Inside the MagicDisney stock is already falling behind in 2024.
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In 2024, Disney is so synonymous with almost every product and entertainment service that it can actually be hard to remember it’s still a regular company that has to meet deadlines and budget restrictions. Founded in 1923, the Walt Disney Company just celebrated its centennial in 2023, bringing in tons of festivities and special events for fans of Disney’s films and theme parks. In 2023, we heard Disney CEO Bob Iger talk a lot about the financial situation of the company, stating that one of his biggest goals is to turn Disney’s Disney+ streaming service into a profitable part of the company.
The last few years have been quite rough for Disney, especially when you include the effects of COVID-19. As either a direct or indirect result, The Walt Disney Company has struggled quite a bit in terms of its stock price. At the time of publishing this article, The Walt Disney Company’s stock price sits at around $91. This figure marks a 0.27% decrease in the last five days and a 1.47% decrease over the last month. The highest point Disney reached in the past six months was a price of $96.06, with Disney steadily declining throughout 2023 and into 2024.
No one can deny that The Walt Disney Company had quite a tumultuous year in 2023, with Disney finding itself at the center of multiple controversies, political battles, and boycotts. The year started off quite shaky, with Gov. Ron DeSantis hurling threats at the company for its stance on Florida’s controversial new bill that was revealed in 2022. As 2023 progressed, these threats became more and more intense, with DeSantis seeking to end Disney’s special protection and privileges in Orlando. Eventually, DeSantis was successful, taking control of the Reedy Creek Improvement District, a special ruling that allowed the Walt Disney World Resort to operate as its own form of government in the state of Florida. This district was renamed to the Central Florida Tourism Oversight District (CFTOD) and given new board members, all of whom were hand-picked by DeSantis.
The Walt Disney Company also struggled at the box office in 2023, releasing flop after flop. While films like Indiana Jones and the Dial of Destiny (2023) and The Marvels (2023) managed to receive good critical reception, the box office results just weren’t there. The Marvels is the sequel to 2019’s Captain Marvel, a film that grossed over $1 billion. Indiana Jones and the Dial of Destiny is, of course, the fifth and final installment of the Indiana Jones film franchise, seeing Harrison Ford take on the role of Dr. Henry Jones Jr. for one last adventure. Both films were fun and exciting but failed to reach the level of hype previous installments received. It certainly doesn’t help that Dial boasted a $300 million budget, making it one of the most expensive films ever produced.
We look ahead to 2024 with anticipation, not just for The Walt Disney Company but for the entertainment industry as a whole, with several new and exciting things on the horizon. Fans of the Disney theme parks have quite a lot to look forward to specifically, with several new projects taking shape.
What are your thoughts on modern-day Disney? Do you visit theme parks often?