Disney Just Got Its 2023 Report Card, And It’s The Worst in Class

We’ve all been there. Think back to your school days. The teacher goes around the room, handing back your grades for a big test. You wait nervously as she moves around the room. Other kids start to celebrate as they get their grades, and then she stops at your desk. She shakes her head and drops a terrible grade on your desk. You look around, hoping that someone did worse, but everyone else in the room is celebrating. That’s when you know you have the worst grade in the class.

Credit: Disney; Thomas Hawk, Flickr

Related: Disney Getting Clobbered at the Box Office Again

This week, the Walt Disney Company found out that they are that kid. Variety passed out their grades for movie studios this week based on the quality of their films and box office returns, and Walt Disney Studios received the lost grade of all the major studios with a C+.

It was the latest blow for Disney, which saw some of its worst box office returns ever this year. Disney only released seven movies this year, and four of them are poised to lose more than $100 million. This year follows Disney’s dismal returns from 2022, which saw Pixar’s Lightyear (2022) and Strange World (2022) lose at least $100 million each.

Variety wrote:

Disney’s CEO Bob Iger has admitted the studio has suffered by mistakingly leaning toward quantity over quality. Disney, at one point, could mint a billion-dollar movie by tossing any recognizable property onto the big screen. But this year has proved the company’s brand familiarity is no longer enough to get audiences to theaters. The long-reigning box office titan remains well-stocked with its arsenal of properties like Marvel, Lucasfilm and Pixar. However, Disney needs a serious internal reckoning to recapture the sparkle that’s been missing from the Magic Kingdom.

Credit: Marvel Studios

Related: Disney Delays Its Summer Blockbuster, Dramatically Altering Its Release Calendar

The biggest disappointment for Walt Disney Studios may have been the downfall of the Marvel Cinematic Universe. Both Ant-Man and the Wasp: Quantumania and The Marvels were disasters at the box office, with the latter posting the lowest opening weekend and total in Marvel history.

Disney also struck out with Indiana Jones and the Dial of Destiny (2023) and Haunted Mansion (2023). Both of which failed with audiences and lost more than $100 million. This year also marked the 100th anniversary of Walt Disney Animation Studios, and it had high hopes for Wish (2023), but that too failed at the box office.

Disney CEO Bob Iger hopes to turn Disney’s fortunes around in 2024, but after a massive shake-up in its release calendar, Disney is only releasing three movies in the upcoming year: Deadpool 3, Inside Out 2, and Lion King: Mufasa. Disney Animation Studios and LucasFilm/Star Wars will not release a single movie in 2024.

Credit: Disney

Related: It Kinds Feels Like Disney Is Giving Up On 2024

Variety’s highest grade went to Disney’s nemesis, Universal, who scored big with The Super Mario Bros Movie (2023) and Oppenheimer (2023). Universal was the only studio to receive an A for the year.

The news wasn’t necessarily all bad for Disney. Guardians of the Galaxy: Vol 3 (2023) managed $845 million, and after a slow start, Pixar’s Elemental (2023) took home $496 million. But those are small consolation prizes for a studio that has become used to billion-dollar hits.

So, with the New Year nearly here, Disney hopes it can get back on track. Or else it will spend another year at the back of the class.

We will continue to update this story at Disney Fanatic.