As one of the most predominant media companies in history, The Walt Disney Company has been no stranger to news headlines.
©Disney
However, since the COVID-19 pandemic launched the world into a time of uncertainty — and, in many cases, loss — Disney has been in the headlines a bit more frequently as they continue to branch in new directions, expand their parks, and attempt to make profit again. At the start of the pandemic, the company was headed by Bob Chapek, who was replaced in 2022 by the current (and former) CEO — Bob Iger. Going into 2024, four years after pandemic-related closures, Iger has some BIG changes to make to keep the company headed in the right direction.
At the final earnings call of 2023, Iger shared that there were four key building opportunities that the Company would be focusing on in 2024. Those were:
- Achieving significant and sustained profitability in the streaming business.
- Building ESPN into the preeminent digital sports platform.
- Improving the output and economics of film studios.
- Turbocharging growth in the Experiences business.
In order to make those things happen, Iger needs to make a few key changes.
Seamlessly launch the official merge of Disney+ and Hulu.
As Iger has shared many times before, streaming is his main priority. Iger shared that the company is set to profit off Disney+ by the end of 2024, but in order to do that, Disney must seamlessly launch the official Disney+ and Hulu bundle.
©Disney
Currently, the beta version is available domestically, but the official bundle won’t roll out until early 2024. Rolling out this new product with no bugs, issues, or learning curves is no small feat. However, Iger seems confident that Disney can do it.
Attain media rights for major sports associations.
Did you know that the National Basketball Association (NBA) AND the College Football Playoffs (CFP) were both looking to hand off media rights in 2024? Disney has expressed interest in both, which is no surprise, considering their goal to focus on streaming.
©ESPN
In 2024, if Iger and Disney can attain the media rights for the NBA and CFP and focus on the direct-to-consumer and live sports broadcasting aspects of streaming, ESPN+ could become the preeminent sports platform that Iger is hoping for.
Grow attendance and revenue at Disney World.
Turbocharging growth in the Experiences sector (this includes the Disney Parks, Disney Cruise Line, and Experiences by Disney) is another thing Iger hopes to focus on. Looking at the earnings report for fiscal 2023, it seems that the parks saw an overall increase in revenue compared to previous years, but this doesn’t mean that Disney is profiting. This means the company is one step closer to returning to normal.
Tiana’s Bayou Adventure Construction
So, Iger hopes to continue to build the Experiences sector, and we think that’ll tie into expansions at Disney World. You see, 2023’s fiscal growth happened everywhere BUT at Disney World — which saw a decrease in attendance and revenue. In 2024, if Disney can market upcoming attractions and experiences like Tiana’s Bayou Adventure, the return of the Disney Dining Plan, all-day park hopping, and other attractive things correctly, we might see those numbers go up at Disney World and overall.
Bring creativity back to film studios.
Disney’s recent movies have been hit or miss when it comes to the box office. Some have done well (We’re looking at you The Little Mermaid), but others, like Elemental and The Marvels have been box office flops. (Although, Elemental did perform much better when it was released on Disney+.)
Walt the Dreamer Statue
Iger and other executives believe wholeheartedly that movies aren’t performing in theaters the way they used to because of one thing: a loss of creativity. Disney shared that the focus should be on creating new, engaging stories rather than a constant stream of rehashes — in the forms of series, remakes, and similar plot lines.
©Disney
Oh, and did we mention that Iger still needs to choose (and train) a successor? Media executives have their guesses on who the successor might be, but we think that the successor could be announced in late 2024 to early 2025, before Iger’s contract ends in 2026.
We can’t wait to follow along with more Walt Disney Company news in 2024 and see the changes and efforts made. We’ll be sure to keep you updated along the way, so make sure to follow along for more!
Looking for more Disney news? Click here!
Join the DFB Newsletter to get all the breaking news right in your inbox! Click here to Subscribe!
WE KNOW DISNEY.
YOU CAN, TOO.
Oh boy, planning a Disney trip can be quite the adventure, and we totally get it! But fear not, dear friends, we compiled EVERYTHING you need (and the things to avoid!) to plan the ULTIMATE Disney vacation.
Whether you're a rookie or a seasoned pro, our insider tips and tricks will have you exploring the parks like never before. So come along with us, and get planning your most magical vacation ever!
What big changes would you like to see Disney make in 2024? Let us know in the comments!
Our handy (and portable!) ebook guides make sure you get the best deals and can plan a vacation of a lifetime.
I agree that Disney’s new creatives lack that — creativity. The stories have been so-so at best. Disney should also drop the mandatory Woke agenda in every new thing they do. If diversity is part of the story, then great, and I cite Moana as an example, since Polynesian culture was germaine to that story. But don’t force it for the sake of DEI points. It looks fake and doesn’t sell. The other thing Bob Iger needs to do to help Disney is resign. Just resign this year, 2024, whether you have a successor or not. Be gone. Disney will never get better with you in charge.
Does Disney World Parks ever reach capacity? If so, what happens then go the guest arriving at the park?
I am an annual pass holder and live in Illinois. Many comments are made that say pass holders don’t spend as much. I can see that true in many incidents of those living closer but that is not always true for those living farther. I keep contemplating the renewal due to things being dropped like photo pass and we as annual pass holders will still have to make reservations according to the January changes. The annual passes are very costly to keep dropping perks and requiring reservations when others don’t have to make them.
The way to increase revenue in the parks is to plan news lands and attractions, then follow thru with getting them built in a timely manner. Too often in the past few years Disney has announced big plans for the parks only to renege or scale the plans way back. They’re becoming the boy who cried wolf. They need to firm up their plans before announcing, then get started right away.
I would love to see the dining plan expanded to include a 2 table serve option. We enjoy sitting down, having a great meal, and watching the ‘show’ that the cast members put on in some of the restaurants.
I also would like to see Genie+/Lightning Lane simplified. I am not looking forward to walking around the park with my nose in my phone, looking to see what times have opened up for this ride or that show. I want to enjoy the sights!
Hi Ralph. We have rarely seen a park reach capacity (generally it’s on a big holiday like Christmas Day or New Year’s Eve), but they will turn guests away if the park is at capacity.
I can think of a few movies that can be made if Disney brings back the original directors and producers who made the original movies: Atlantis: The Lost Empire 2 ( not Milo’s Return), Treasure Planet 2, Haunted Mansion 2, sequel to the 2003 original ( not the reboot). Also, Disney should give ABC & ABC Family (Freeform) as well as Disney Channel more recognition at the Disney Parks. Also, I can think of some franchises that need to resume: Disney Channel’s Twitches, the Halloweentown franchise, and the Chronicles of Narnia movies.
I feel that Disney should bring back Radio Disney as well, and give ABC & ABC Family (Freeform), & Disney Channel the recognition they deserve to have at the Disney Parks. That would definitely help bring in more guests to the parks. Also, Disney needs to lower their prices so people can afford to come to the Disney Parks or nobody will be able to come at all unless they spend years saving up money to come to the parks.
The Disney Magic returns only when Disney focuses on that which made Disney Magical 50 years ago!
In the last 20-25 years they have gotten too repetitive in many of their projects! And in terms of those who once were dedicated to the magic have found other means of family life from Disney! Bring back things that once were special to those who had Disney in their hearts