It may not be the biggest stretch to say that The Walt Disney Company’s 2022 was one of the most disappointing years in its 100-year history.
Scores of fans were claiming “The Magic is Gone.” Theme Park Tickets and Annual Passes continued to rise despite the depreciating Guest experience. Highly-anticipated movies from Pixar and Walt Disney Animation bombed at the Box Office. A culture war was sparked that saw protests outside Disneyland, entire countries banning new movies, and the loss of autonomy of Disney World’s Reedy Creek Improvement District. The stock price hit multiple 52-week lows, and its CEO Bob Chapek was unceremoniously ousted and replaced within a single fall weekend.
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Despite all of the turmoil, Disney has begun its second century with hope and confidence in the future, and for the 20th year in a row, it still made Fortune’s list of the “World’s Most Admired Companies,” and even the Top 10.
Disney shared the news on its corporate website, saying,
“For the 20th consecutive year, The Walt Disney Company has been recognized as the top-ranked media and entertainment company on Fortune’s annual list of the “World’s Most Admired Companies,” released online today and in the magazine’s February/March issue. Disney ranked No. 6 overall among the 324 listed companies from across the globe.
Disney earned top marks in a significant number of areas, including innovation; people management; use of corporate assets; social responsibility; quality of management; financial soundness; long-term investment value; quality of products/services; and global competitiveness.”
Beginning with 1,500 businesses across 52 industries, and then narrowing it down to the highest-revenue-generating per industry, 645 across 27 different countries, Fortune partnered with global management consulting firm Korn Ferry to survey 3,760 executives, directors, and securities analysts from those top companies. The survey participants were asked to pick the top 10 companies they admire. It was based on this data that Fortune compiled its “World’s Most” list with the top 50. The Walt Disney Company once again finds itself in the Top 10.
Returning CEO Bob Iger has expressed confidence that things will be better at Disney, and more of the company’s most recent days and future are expected to be heard during the company’s Q1 2023 earnings call next week.
