The House of Mouse is flooding. Just, it seems, not with cash.
According to ScreenRant, Disney CEO Bob Iger, who recently returned to the job to help save the floundering entertainment giant from falling profits, is feeling “exhausted and overwhelmed” by the company’s continued box office bombs and the fact that fewer and fewer people are willing -or able - to cough up the ten grand it takes to visit his overpriced theme park.
Disney has reportedly lost some $900 million in film failures this year alone, including the poorly-received “Lightyear,” their live-action “Little Mermaid” remake, the new “Elemental,” “Ant-Man & The Wasp: Quantumania,” and the latest installment of “Indiana Jones.” Most recently, the studio’s “Haunted Mansion” pulled in just $24 million during its opening weekend at the U.S. box office, with a long way to go before breaking even on its $150 million budget. Add crappy movies to things like the new "Snow White" lead actress tromping around spouting off obnoxious feminist lines and dissing the beloved 1940s classic, and you've got a recipe for irritated fans and falling profits.
Related: Disney Wants To ‘Quiet The Noise’ In Culture Battles, But Is it Too Late?
Disney’s woes at the theater are coupled with an ever-dropping number of Disney+ subscribers, which fell another 4 million in the first quarter of 2023 alone. The company reported 146.1 million total Disney+ subscribers back in August, a 7.4% drop from the previous quarter. In fact, Disney+ has lost more than $11 billion since the streaming service was introduced in 2019.
In addition, it seems fewer and fewer people are taking out second mortgages for a family trip to Disney World. Reports show there was a 20% drop in attendance at the Disney resort this past summer compared to the park’s typical crowd, which critics and disgruntled former park-goers say is largely related to the park’s massive price hikes, insanely expensive hotel costs, and long lines (if, of course, you don’t want to pay the extra per-day fee to cut the lines).
According to Magicguides.com, the average price of a Walt Disney World vacation for a family of four in 2023 was about $5,240, far outside the typical middle-class family's budget.
On top of that, many more conservative families say they’re avoiding the park - and even canceling their Disney+ subscriptions - in disgust over Disney’s “woke” agenda, including the company’s shoving LGBTQ content in children’s films and shows and famously pushing back against Florida’s Parental Rights in Education Bill last year.
It seems "go woke, go broke" has shifted to "double down, down the drain."
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