Now That Disney Is 100, It’s Time for Iger To Go To Work

So, the party is over. Just last week, the Walt Disney Company turned 100. It was a chance to reflect on the company that Walt Disney started and turned into the largest entertainment company on Earth after his death. All of Disney’s Parks around the world celebrated the event. Disney Animation Studios released “Once Upon A Studio” to remind audiences of the magic and dreams of the past 100 years.

Thanks to everyone who made this possible, from Walt and Roy Disney, to generations of wonderful creators, to guests and audiences and customers…to the thousands and thousands of cast members and employees who have worked for The Walt Disney Company and enabled it to thrive for… https://t.co/e6oHZygodI

— Robert Iger (@RobertIger) October 17, 2023

Related: Disney at 100. How Two Brothers and Their Movie Studio Took Over the Entertainment World

The celebration will, of course, continue. This is, after all, a Disney celebration. Remember that Walt Disney’s World’s 50th Anniversary lasted for 18 months. But looking back on the company that Walt built, even for a minute, reminded everyone of the current state of the Walt Disney Company.

Now that the confetti has fallen and everyone has had their magical Disney moment, it’s time for Disney CEO Bob Iger to go to work to try and fix the company. Even Iger admitted that Disney’s problems were “greater than he anticipated” this summer. And that was months ago; Disney’s issues have only worsened since then.

Television/Streaming

Disney has been ill-prepared for the radical changes that have swept over-the-air television. Disney’s fight with Charter/Spectrum laid bare some of the issues facing cable as millions of subscribers have cut the cord over the past five years. Disney caved into Spectrum’s demands and allowed them to offer cable packages without including ESPN. Disney also removed several channels from Spectrum’s service, including Disney Junior.

Bob Iger has been actively trying to sell some of Disney’s assets, including ABC, but they have not pulled the trigger on that deal. ESPN is still a massive moneymaker for Disney, but its future is uncertain. ESPN will eventually become a streaming-only service, but Disney is not ready to make that move. ESPN has also jumped into gambling, bringing mixed emotions from Disney fans and Wall Street investors.

Iger brought his former proteges, Kevin Mayer and Tom Staggs, back to the company to help with the sale of some of Disney’s cable assets. But they’re trying to convince Iger that it’s time to sell those underperforming assets.

And then there’s Disney’s streaming services. Disney Plus has started cracking down on password sharing, the solution to losing millions of subscribers. Disney is also fighting with Comcast over its third of Hulu. Disney has raised prices across all its streaming platforms to impress investors. That move probably won’t get those millions of subscribers back, but it will help Disney to raise more money.

Disney Parks

The constant bright spot in Disney’s portfolio is the parks. But the continuous story over the summer was that Walt Disney World in Central Florida was virtually empty. It appears the attendance has leveled off and, in some cases, even greatly improved. Iger announced that Disney plans to invest $60 billion in its parks worldwide. This will include a massive expansion of Disneyland in California and changes to Disney’s Animal Kingdom in Florida. Chairman of Parks, Experiences, and Products Josh D’Amaro even teased a massive expansion of the Magic Kingdom.

But all of that is coming at a cost, and Disney guests will be paying that cost. Disney raised the cost of parking, annual passes at Disney World, and prices across the board at Disneyland. These increases will price some families out of a Disney vacation, so next time someone asks him, Bob Iger can say that it is, in fact, the prices that are keeping families away.

Disney Films

Disney is desperate for a hit, and Wish (2023) may fill that need. But Disney, Marvel, and Pixar have been losing lately. Disney lost nearly $1 billion on its films in 2022 and is on pace to lose another billion this year. Disney’s Haunted Mansion (2023) and Indiana Jones and the Dial of Destiny (2023) were Disney’s two biggest disappointments of the summer, both crashing at the box office.

Related: It’s Official: Disney is Out of Ideas, as More Live-Action Remakes Are Rumored To Be in the Works.

Despite a slow start, Pixar’s Elemental (2023) became a surprise hit for Disney and even broke streaming records on Disney Plus. But Disney’s slate of movies contains multiple live-action remakes of animated classics, including what seems to be the ill-fated Snow White (2024). Fans appear to be tired of the live-action remakes, but Disney has nearly a dozen in the works.

Iger must get the creative juices flowing again at Walt Disney Studios. If trailer views are to be believed, Wish will be huge for Disney later this year, but The Marvels (2023) comes first and hasn’t generated nearly the buzz as other Marvel films. There’s still a lot of work for Iger to do.

Iger’s Work

Disney CEO Bob Iger has a lot of work to get done. He has to start selling off some assets while trying to keep the money flowing at ESPN. He has to continue to build the parks while not alienating or pricing out fans. And there are too many issues with Disney films to even name.

But there are other pressing issues for Iger. Activist investor Nelson Peltz is back and looking for a seat on Disney’s Board of Directors. When he did this earlier this year, Iger appeased him by firing 7,000 employees and saving the company $5.5 billion. But that likely won’t work this time.

And then there’s the job of finding a successor. Iger extended his contract through the end of 2026 but is no closer to finding someone to take over the Walt Disney Company when he leaves. He needs someone who isn’t going to alienate fans and try to ruin everything like his predecessor, Bob Chapek, did.

So, the party’s over. Put down the champagne, Bob. Please clean up the confetti; it’s time to go back to work.

We will continue to update this story at Disney Fanatic.