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Credit: LucasfilmEver since Disney CEO Bob Iger returned to the company in 2022, after unceremoniously showing his hand-picked success Bob Chapek the door, Disney has been in cost-cutting mode to help lift the company’s stock price. Part of that cost-cutting came from Disney’s streaming services, which, up until recently, were net losers for the company.
Thanks to Iger’s moves, Disney was finally able to turn a profit on its streaming services. As Disney+ adds an ESPN tile, the streaming business seems to be on more stable ground.
However, that doesn’t mean that Disney isn’t still feeling the effects of the Chapek era. The Chapek era was marked by some of Disney’s worst box office performances, including Lightyear (2022) and Strange World (2022). It was also under Chapek that production began on The Marvels (2023), the worst-performing Marvel Studios film since Disney bought the company.
Iger seems to have Disney back on solid ground now. After he shifted 2024’s release schedule, Disney is on the verge of having three $1 billion films, with Moana 2 (2024) on the verge of breaking the billion-dollar mark. Disney also has an outside shot at a fourth with Mufasa: The Lion King (2024), which will be released later this year.
The results of the Chapek era are still being felt. Disney’s live-action Snow White (2025) has yet to hit theaters, and if fans’ reactions to the previews indicate it’s box office, it won’t be good.
And then there are the issues with the streaming service. Disney pumped billions into getting Disney+ off the ground, and now those bills are coming due, too.
According to a recent Forbes article, Disney spent nearly $1 billion on four shows for Disney+: Loki, Secret Invasion, Andor, and The Acolyte. The four shows have a 52 percent score on Rotten Tomato, which is dragged down by the horrible ratings for Secret Invasion and The Acolyte.
All four shows were greenlit under Chapek, hoping to attract customers to Disney’s streaming platform. Exactly how many people signed up for Disney+ strictly for those shows is unknown. However, only 994,000 viewers watched Secret Invasion during its first five days of release.
The Acolyte and Secret Invasion cost Disney $432 million to make and have a combined 30 percent score on Rotten Tomato. While Loki and Andor were slightly more expensive, the two shows were hits, spawning second seasons.
Luckily for Disney, the Chapek era is over, even if the damage he’s done is still being paid for.