Something that Disney hasn’t managed for four years has finally happened again, and it could mean some good news for the Walt Disney Company.
The past year has not been the easiest for the Walt Disney Company. When the final numbers for 2022 came to, it was revealed that the entertainment and media giant lost $120 billion. Many fans were markedly unhappy with the Mouse House, and Disney prices were (and, to be honest, seemingly still might be) on the rise.
But in the midst of this, there’s some good news, the sunrise on the horizon perhaps—though only time will tell if that is true.
As reported by CNN, “China has reopened its doors to Disney’s Marvel Studios for the first time in almost four years, with two new film releases secured in the world’s second-largest movie market.”
Disney’s Black Panther: Wakanda Forever and Ant-Man and the Wasp: Quantumania will both see Chinese releases, the former three months after its global premiere on February 7 and the latter on February 17.
Per Paul Dergarabedian, a senior media analyst at Comscore, these two films will be the first Marvel movies to grace the Chinese big screen since 2019’s Spider-Man: Far From Home. Iger has been known to have a great relationship with the CCP, and while the world has, in fact, seen a huge hit with Covid, especially so in China, it’s entirely possible that the changes in Disney’s leadership are what brought this to the helm.
It’s important to note that a few short months after Iger returned to take the mantle of Disney’s CEO, and soon after China just ended its Covid Zero policy, we heard of Marvel returning to Chinese big screens. After 15 years in the role, perhaps Iger found the opportune moment to jump in and capitalize on his formerly nurtured relationship with China, allowing Disney to gain back their audience from the world’s second-largest market for films.
This latest win for Disney could not only signal better times for Disney, but it could also signal better times ahead between Hollywood and China, cementing Disney’s role as a pioneer and trendsetter in its fields.
The Walt Disney Company has seen a lot of change recently, and the last few months have seen a major restructuring of the company. From the ousting of former Disney CEO Bob Chapek to the return of his predecessor, current Disney CEO Bob Iger; from the announcement of board chairman Susan Arnold’s replacement to a variety of structural and organizational changes; with a lot of exciting announcements surrounding the Disney Parks that bring with them the return of myriad complimentary services. Perhaps this is truly a sign of good things to come!
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