WOW. It has been a huge week for Disney news.

We got massive updates about Disney’s financial status (and what CEO Bob Iger thinks about a multitude of things), a massive update on Disney’s Reedy Creek Improvement District, and SO much more. So take a second now and join us as we wrap up the biggest news stories from this week.

FOOD News

First, we’ll hit you with some Disney food news. In Disney World, you’ll currently find a whole bunch of Valentine’s Day treats in the parks and resorts.

From giant donuts to a DOLE Whip creation with a problem, there’s a lot to pick from.

To see ALL of our photos and reviews of Disney World’s Valentine’s Day treats CLICK HERE!

Remember that February is also Black History month, which means you’ll also find quite a few new snacks in Disney World and Disneyland as part of the Celebrate Soulfully campaign. We’ve tried a drink that you might need to be careful about, a twist on a classic dessert, a jambalaya hot dog, a specialty cupcake, and more. Be sure to keep an eye out for these treats throughout the month!

But wait, there’s MORE food news. Price INCREASES are set to soon hit Cinderella’s Royal Table in Magic Kingdom as the characters make their return to the restaurant.

Over at EPCOT, Dining Packages are now available for the 2023 EPCOT Flower and Garden Festival’s Garden Rocks concert series. Be sure to book yours if you want to guarantee a great seat for a particular concert.

And finally, PRICE INCREASES have hit an iconic Disney World snack — the beloved DOLE Whip! So be sure to adjust your DOLE whip budgets accordingly.

Major Housekeeping Update

Next, we move to Disney World’s hotels where we have a MAJOR update. If you have missed having “regular” housekeeping services, you’ll be thrilled to know that daily housekeeping is coming back to ALL Disney World hotels.

Disney brought back daily housekeeping services for Deluxe Resorts previously. But now, by the end of February, “full housekeeping room cleanings will once again be available at all [Disney World] Resort hotel rooms.” This will include replenishing amenities, changing and restocking linens, vacuuming, cleaning the bathrooms, making the beds — the WORKS.

Click Here for our Full Post on This MAJOR Housekeeping Change

Huge Movie Sequels

And now we shift to HUGE Disney movie news. Disney has announced that sequels are officially in the works for Toy Story, Zootopia, and Frozen!

A few of the stars of these films have even chimed in about the news. Tim Allen himself tweeted “See ya soon Woody, you are a sad strange little man and you have my pity.”

See ya soon Woody, you are a sad strange little man and you have my pity. And off we go to a number 5! To infinity and beyond! pic.twitter.com/bwRzE487Vi

— Tim Allen (@ofctimallen) February 9, 2023

 

 

 

Not much has been shared about these sequels so far, but we’ll be looking for more details!

What We Know About Disney’s NEW ‘Frozen’ Sequel So Far

Bob Iger Comments on Theme Park Pricing, Disney+ Updates, and MORE

And now we get to the really big stuff. On February 8th, 2023, the Disney Company released its earnings report and held its earnings call for the first quarter of fiscal year 2023, and it brought us some SERIOUS updates.

Between the report, the call, and an interview Bob Iger did following the call, we have a lot to share so let’s go rapid-fire through it all. Be sure to click the links below if you want to learn more about any one of these areas!

Disney+

First up, Disney+. Is the streaming service LOSING subscribers? Seems like it. This quarterly earnings report showed that Disney+ actually lost subscribers between October 1st, 2022, and December 31st, 2022, though the loss appears to have mostly been with Disney+ Hotstar.

In terms of other streaming information, Disney’s direct-to-consumer business did report another big loss this past quarter, to the tune of $1.053 BILLION.

But Bob Iger has made it clear that his “Number One Priority” is streaming and working on making streaming profitable at Disney.

We’ll be interested to see just what steps Iger can take toward this goal in his short 2-year-planned tenure.

Will Bob Iger Stay MORE than 2 Years?

Speaking of his limited 2-year tenure, some have wondered whether Iger would stay beyond that but it seems Iger does not necessarily want to.

In an interview, Iger shared that his “plan” is to stay at Disney for 2 years. He said, “that’s what my contract says…that would be my preference as well.” Overall, Iger shared that it’s “premature to speculate” on the issue, but there are “no plans right now” for him to stay any longer.

Of course, things are always subject to change!

See our full post here about Iger’s comments when it comes to staying a long time with Disney

Disney Parks

On the parks side, Disney reported some big revenue numbers so things seem to be going well. Part of that has to do with how much guests are spending in the parks.

Disney shared that some of that increase in income at the parks is due to “higher volumes and increased guest spending.” The report noted that Genie+ and Lightning Lane contributed to the increase in guest spending. Basically, you’re spending MORE in the Disney parks and Disney is well aware of how beneficial that is to their bottom line.

But, will some pricing in the parks change? During the earnings call, Bob Iger admitted that Disney’s theme park “pricing initiatives were alienating.” He noted that Disney was “not perceived to be as accessible or as affordable to many segments as we probably should have been,” and said that the team has been taking steps to change that.

Click here to read more about Iger’s comments on theme park pricing

Layoffs

This week, Disney also announced that it would be reducing its workforce by 7,000 jobs.

While details about the layoffs haven’t really been shared, one executive has noted that Disney does NOT anticipate the layoffs to impact hourly frontline roles in operations.

Click Here to See How Layoffs Will Impact Disney (And Who Won’t Be Affected)

Massive Reorganization

Along with the other news, Iger also shared that Disney would be MASSIVELY restructuring the company to essentially undo the structure put in place by Bob Chapek with the DMED (Disney Media & Entertainment Distribution) division.

Under the new organizational structure, Disney will have 3 core segments — Disney Entertainment, ESPN, and Disney Parks, Experiences, and Products.

Iger stressed that the reorganization will provide “a more cost effective, coordinated and streamlined approach” to the company’s operations. The new structure will “re-establish a direct link between content decisions and financial performance,” he said.

Click Here to Learn More About This Massive CHANGE From Disney CEO Bob Iger That Seeks to Fix a Chapek “Mistake”

Managing Capacity and Park Passes

Back to the parks, Iger also made some comments about capacity and how that’ll continue to be managed. Though he didn’t really give an update about the future of Park Passes specifically, Iger did note that Disney is “going to manage capacity very, very carefully.”

Iger continued by saying that some of the changes they’re making at Disney (which seemed to be a reference to the increased amount of cheaper Disneyland tickets), have enabled Disney to “shift [the] mix…from annual pass holders to people who may come just once in a lifetime or once.”

So it seems there is still an interest in seeking what Chapek called a “balance” between passholders who may go more frequently but spend less and ticketed guests who go less frequently but on average pay more.

Disney Will Continue to Manage Capacity to Shift the Mix Away From Annual Passholders

On Selecting Bob Chapek as the Next CEO

Wonder what Iger thinks about Chapek’s selection as CEO now that Chapek has gone and Iger is back? Well, in an interview, Iger noted, “We thought we made the right decision when we chose Bob [Chapek] in 2020. The board decided in November he wasn’t the right person for the job and made a change.”

Iger reportedly concluded by saying, “With any big decision, you should learn from what went wrong.”

Though Iger didn’t really go into details about what may have gone “wrong” with Chapek, he did comment on something done during Chapek’s time that he felt was a big mistake.

Click here to see more about Iger’s comments

Spending Cuts

Amid big streaming losses, Disney announced some spending cuts. Iger noted that the Company will be looking to cut spending by around $5.5 BILLION.

Around $3 billion will be cut from non-sports content. Iger shared “We will take a very hard look at the cost of everything we make across television and film.”

Another $2.5 billion is expected to be cut from general operating costs. And the Company’s reorganization is set to help the Company be more cost effective as a whole.

See more about how Disney plans to CUT costs here

A NEW Avatar Experience

And finally, the earnings call also brought a BIG update for Avatar fans. During the call, Iger announced that Disney is working on a NEW Avatar experience for Disneyland.

Exact details haven’t been shared, but we’re on the lookout for more updates!

You Missed These 10 HUGE Disney News Bombs

Reedy Creek District Update

Now we move to Disney’s Reedy Creek Improvement District. This is the District Disney World has operated under for over 50 years. The District essentially acts as its own county government and its structure has let Disney have a large amount of control over the land on which it operates in Orlando.

Following Disney’s debacle with Florida Governor Ron DeSantis over Florida’s Parental Rights in Education bill, a law was passed that will dissolve the RCID in June of 2023, and now we have some massive updates.

The issue of the RCID’s future came before the Florida legislature during a Special Session that began on February 6th.

A bill was then introduced in the Florida House of Representatives that would (if passed) give the RCID a NEW name and essentially allow the district to continue (rather than be dissolved), but it would also make critical changes to the way the district operates. Instead of a Board of Supervisors selected by the landowner of the District (Disney), the District would be managed by a Board of members selected entirely by the Florida Governor (and confirmed by the Senate).

It would also strip the RCID of some powers, but leave it with certain key ones (like powers regarding the issuance of bonds).

The President of Disney World noted that they were watching the progress of this bill closely.

Despite some lawmakers’ criticisms of the bill, and one lawmaker’s attempt to rename the District “Florida’s Attempt to Silence Critical and Independent Speech and Thought,” the bill passed the Florida House of Representatives.

The bill now moves to the Florida Senate and is expected to be passed there as well. Stay tuned for updates.

The LOOPHOLE Disney Could Use to Resolve Reedy Creek District Problems

A Big Disney Battle Is OVER

And finally, for weeks we’ve been tracking what one reporter called Bob Iger’s “fight for the future of Disney” — a.k.a. the proxy battle that had been ongoing regarding Disney’s Board of Directors. Basically, activist investor Nelson Peltz and Trian Partners had been pushing to get Peltz a seat on Disney’s Board of Directors, against the wishes of Disney’s existing Board.

But, following Disney’s earnings call and the changes announced, Peltz swiftly announced that the battle was over. According to Peltz, “this was a great win for all the shareholders.” He said that the management at Disney now plans to do everything Peltz’s group wanted them to do.

He also said they “wish the very best to Bob” and the Board, and noted that they will be watching and rooting for them.

Click here to see more about that announcement

And that’s it for this week’s news! To see more Disney stories, check out our posts below:

• BREAKING: Cast Members Reject New Disney World Contract
• You Can Buy NEW McDonald’s Loungefly Bags Online NOW
• Get Ready To DROOL  Over EPCOT’s New Loaded Fries
• The FREE Thing You Can Get in Disneyland EVERY DAY
• Major CHANGE Will Make Your Disneyland Trip Easier
• Traveling to Magic Kingdom Is About to Get HARDER
• FIRST LOOK at the New Rooms Inside Disney’s BoardWalk Inn!
• Major CHANGE Comes to Magic Kingdom Stores
• Why a Random Date in April Will be CRITICAL to the Walt Disney Company

And stay tuned for the latest updates.

What news from this week surprised you the most? Tell us in the comments.