The Walt Disney Company has had a rough go of it with film releases of late, as the last several releases have been major “flops,” according to box office receipts and critics alike. But the company’s recent string of failures isn’t keeping the Mouse House from pushing forward with new releases in the new year. In fact, Disney has seven confirmed projects slated for a 2024 release.
In 2014, Disney began a real winning streak when it came to box office releases. The year marked the beginning of a string of $1 billion home runs at the box office, but 2022 and 2023 changed all of that, breaking that winning streak and leaving fans wondering if Disney will ever get back to those entertainment glory days.
Walt Disney always portrayed a work ethic that included determination, integrity, and a commitment to never giving up. Perhaps that’s what the studio teams are ascribing to as they have yet to take the recent string of film failures as a sign to close up shop.
Coming in 2024
Disney and its subsidiaries are planning to release a septet of projects in the new year, some of which have been talked about for years. Releases slated for a 2024 debut include The First Omen, Kingdom of the Planet of the Apes, Alien: Romulus, The Amateur, and Mufasa: The Lion King. Marvel will release Deadpool 3, and Pixar Animation Studios is looking forward to the long-awaited release of its newest sequel, Inside Out 2.
The potential success of the planned 2024 releases from Disney, Marvel, and Pixar could serve to right the ship at Disney–the very thing for which boomerang CEO Bob Iger was brought back to The Walt Disney Company to address.
In early February 2023, Iger revealed plans for a major restructuring within The Walt Disney Company, as well as other cost-cutting initiatives aimed at slashing over $5.5 billion in spending at the House of Mouse. Part of that strategy included the layoffs of 7,000 Disney employees.
While Disney’s failures at the box office since 2022, including Pixar’s Turning Red (2022) and Lightyear (2022) and Disney’s Strange World (2022) and Wish (2023), are partially to blame for Disney’s recent financial debacle, they are by no means the sole reason for the company’s downward spiral when it comes to Disney’s bottom line.
In addition to box office fiascos, Disney has been plagued with a streaming service that–even after four years of operations–has yet to make a profit. Disney continues to lose money on Disney+, but according to financial sheets from the most recent earnings call in November, Disney is beginning to slow the bleed when it comes to losses related to the streamer.
Could it be that the septet in films will be what finally turns things around for The Walt Disney Company? It’s possible. But only time will tell.