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Not too long ago, it seemed like there was nothing that could stop The Walt Disney Company. Its theme parks were unstoppable, being some of the top vacation destinations in the world. And, of course, we can’t forget about its theatrical releases.
Sadly, in the past few years, things for Disney have been anything but magical. Things started with the impact of the COVID-19 pandemic, but they have only gone on a roller coaster ride since then.
Credit: Disney
Related: Guests Report That the Magic Is Still Alive and Well at Disney World
Disney has been struggling at the box office and has only had a couple of hits in the past couple of years — The Little Mermaid (2023) and Pixar’s Inside Out 2, which is one of the most successful animated films of all time. However, many of its films — including Indiana Jones and the Dial of Destiny (2023), Haunted Mansion (2023), Ant-Man and the Wasp: Quantumania (2023), and Lightyear (2022) were all huge flops.
Credit: Disney
On the theme park side, COVID cost the company A LOT of money. Walt Disney World Resort was only shut down for a few months, but Disneyland Resort, Disneyland Paris, Tokyo Disney, Shanghai Disney, and Hong Kong Disneyland were all closed for more than a year. Things have picked up since the pandemic, with Disneyland Paris even seeing a profit for the first time ever.
However, in its last earnings report, Disney did say that theme park attendance had dropped, but it said that it was due to the post-COVID travel bug wearing off. Many fans did not believe that and called Disney out, claiming that attendance dropped not because of COVID, but because vacationing at places like Walt Disney World was just too expensive.
Credit: Disney
Related: Disney World Removed a Ton of Free Services, Leaving Guests Feeling Nickel and Dimed
With all that in mind, it is no wonder that Disney’s stock price has been taking a huge hit. In March 2021, the company stock was on a huge upswing, sitting at almost $200 per share. But things have gone down since then, and it’s now rare to see Disney shares sit at more than $100 per share for an extended period.
And fans think that Disney only has itself to blame.
Credit: The Walt Disney Company
A video was recently shared on X (formerly Twitter) of former Disney CFO Frank Wells talking about how the company would keep its stock price high — by taking care of guests.
“[Disney stock price] will take care of itself if we together operate this company the way Walt Disney laid it down decades ago” –
Former Disney CFO Frank Wells. Very wise advice from a man taken too soon.
“[Disney stock price] will take care of itself if we together operate this company the way Walt Disney laid it down decades ago”
– Former Disney CFO Frank Wells. Very wise advice from a man taken too soon. pic.twitter.com/5mVCAa0sr4
— Mickey Central (@Mickey_Central) July 9, 2024
Related: Bob Iger Admits Disney STILL Paying Price for Past Mistakes
That clip set off a wave of discussion, with Disney fans saying that Disney’s leadership had strayed too far from Walt’s original vision. Guests are paying more and feeling like they are getting less, and Disney appears willing to sacrifice the guest experience, which is part of the reason for the drop in Disney’s stock price.
Unfortunately the current management believes the complete opposite and just as @SirBrayden said they are all just focused on guest spending but at the cost of a great experience. If they focused mainly on creating the best experience then the stock price will fix itself
Unfortunately the current management believes the complete opposite and just as @SirBrayden said they are all just focused on guest spending but at the cost of a great experience. If they focused mainly on creating the best experience then the stock price will fix itself
— Theme Park Cheetah (@GreenCheetah99) July 9, 2024
Related: Bob Iger Makes Big Reversal In Chapek-Era Changes
While the company did struggle a lot under the leadership of now-fired CEO Bob Chapek, a lot of guests and fans are angry that CEO Bob Iger isn’t doing more to bring back the magical experience that truly set Disney apart from everyone else.
This was when they cared about Walt Disney. Iger and company is destroying the legacy of Walt Disney.
This was when they cared about Walt Disney. Iger and company is destroying the legacy of Walt Disney.
— Annie (@anneaustin59) July 10, 2024
When Walt and Roy Disney were in charge, they created a very good balance. Walt had the creative vision, and Roy was able to balance that with what they could do financially and what would be best for the company. Unfortunately, Disney does not have that anymore. There are zero creatives on the Board of Directors who can lead the company in a more creative direction.
That leadership discrepancy has not gone unnoticed by fans.
Disney needs two people in charge to succeed. All the great companies have been that way at their peak. You need the creative and financial minds independent.
Disney needs two people in charge to succeed. All the great companies have been that way at their peak. You need the creative and financial minds independent.
— Derek (@DMPicone) July 10, 2024
Disney’s competition, on the other hand, has a creative at the helm. Mark Woodbury is currently the Chairman and Chief Executive Officer of Universal Destinations & Experiences. Prior to that, he ran Universal Creative — the team responsible for all the theme park’s rides and attractions.
Despite their complaints, Disney fans still hope that the company will see the light and bring things back to the way they once were. They continue to implore the company to change, citing how that can only make things better.
Do you think Disney’s own greed has caused its stock price to plummet? Let us know in the comments!
