As you probably know by now, former (and very popular) Disney CEO Bob Iger is once again leading The Walt Disney Company. Iger took over on November 20, immediately following the abrupt firing of Bob Chapek — who was in charge for less than three years. During his short time as CEO, Bob Chapek struggled to get in the good graces of Disney fans. Between his public fumbles with the Scarlett Johansson lawsuit and Florida’s Parental Rights in Education bill to his extreme price increases that left many Disney fans in the dust, discontent ran rampant.
One thing Chapek was known for was always looking for ways to increase profits while cutting costs, something most CEOs prioritize. However, Chapek’s ways of cutting costs angered many who saw the quality in Disney’s theme parks go down while prices shot up. Guests frequently complained about rides and attractions being in disrepair and trash overtaking some areas.
While Mr. Chapek was constantly taking money away from the Parks, it appears that Bob Iger wants to do the exact opposite. In a recent filing with the Securities and Exchange Commission, Disney has revealed that it is going to increase spending by 37% in the next year — going from $4.9 billion to $6.7 billion. This could very well mean that more money will be spent on Disney theme parks.
It is important to note that this additional money may not necessarily mean more attractions, but it could mean that more money will be spent on improving things already in the Parks, which would still be a nice change of pace. There are, however, two attractions that we do know will be opening in the next couple of years — TRON Lightcycle/Run at Walt Disney World’s Magic Kingdom and Tiana’s Bayou Adventure (formerly Splash Mountain) and both Disneyland Park and Disney World’s Magic Kingdom.
Bob Iger recently held a Town Hall-style meeting with Disney employees and spoke about how happy he was to be back — even referencing the song “What Did I Miss” from the hit Broadway show Hamilton. While he danced around answering a number of questions posed to him, he did ensure employees that he is focusing on bringing Disney back to where it once was.
Mr. Iger is currently set to remain in the CEO role through December 31, 2024, and a new CEO will take over in the New Year.