food IS a theme park
So let’s talk about this HUGE EPCOT transformation that has been underway for several years now.
EPCOT
That transformation has involved a LOT — the front of EPCOT even looks different now, with a new fountain and lighting on Spaceship Earth. EPCOT even got a new attraction (Guardians of the Galaxy: Cosmic Rewind), with another (Journey of Water — Inspired by Moana) on the way. Well, the Disney Imagineer who oversaw a lot of that work just got a promotion with the company.
Well, there is certainly a LOT going on with The Walt Disney Company.
Cinderella Castle
And we’re not even talking about the big 100th Anniversary Celebration that’s still going on (and coming to EPCOT soon). Disney just recently held its third quarter 2023 earnings call, and we learned about Disney’s current financial status for both Disney Parks and streaming, but we also got some big announcements.
Things are CHANGING at the Walt Disney Company and we now have an inside look at what’s going on.
Disney World
On August 9th, 2023, Disney released its earnings report for the third quarter of fiscal year 2023 (Q3 of FY 2023) and held an earnings call related to the report. Why is this a big deal? Well, these earnings reports/calls give us a peek behind the curtain (so to speak) — a look at just how things are going financially for the Company, from the parks to Disney+. And this earnings report/call revealed some especially important things — let’s take a look!
There have been a LOT of changes at Disney over the past year…and we know, it can be overwhelming!
©Disney
Between the return of Bob Iger as the company’s CEO and the ongoing battle between Disney and the Central Florida Tourism Oversight District (formerly known as the Reedy Creek Improvement District), the Walt Disney Company has been in the spotlight. Another controversial topic that the company has been involved with is artificial intelligence (A.I.) and now there’s a new update you should know about.
One of our favorite things about the Disney Parks is the amount of thought and detail that goes into the park theming and decor.
Partners Statue
Throughout each of the Disney Parks, there are small tributes to Walt Disney himself — and, of course, the Mouse that started it all. Statues of Walt and Mickey can be found at a few of the Disney Parks, like the “Partners” Statue that can be found in Disney World’s Magic Kingdom. Now, Disney has shared a first look at an all-new statue that’s coming soon to a Disney Park.
The entertainment industry could be preparing to come to a screeching halt.
©Disney
Since May, the WGA (Writers Guild of America) has been on strike, which has already begun to disrupt TV and movie production schedules. Now, though, with a SAG-AFTRA (The Screen Actors Guild – American Federation of Television and Radio Artists) strike potentially on the way, more productions could potentially shut down, halting pretty much all TV and movie productions currently filming. Walt Disney Company CEO Bob Iger has commented on what that could mean.
Ever since he came back as CEO of The Walt Disney Company, Bob Iger has made quite a few big changes.
©Apple
He instituted several changes in the parks, initiated thousands of job cuts, and restructured some of the departments to help get Disney back on track financially and with its fans. But could more changes be on the horizon? With Iger’s contract having just been extended and the company still fighting financial issues…it’s likely. And now we know a little more about which changes may come.
MAJOR news has been revealed about the future of the Walt Disney Company and its executive leadership.
©Disney
Back in 2022, it was announced that Disney CEO Bob Chapek would no longer serve in that role and Bob Iger would return to the CEO position. Originally, Iger was only bought back for a 2-year term and he had previously indicated that it was his “preference” to remain on just for those 2 years. In fact, earlier in 2023 Iger said that there were “no plans” (at that time) for him to stay any longer. But, those who follow Disney closely likely remember how Iger repeatedly extended his term as CEO during his first tenure, ultimately staying on for MANY years. And now, we’re having a little deja vu…
Are you ready to find out how the Walt Disney Company is doing financially?
©Disney
Disney held its Q2 Earnings Call back in May, and we learned about how Disney Parks are doing, as well as how Disney+ is doing. These calls are held every quarter and sometimes they even include some big announcements, like news on franchise sequels. We’re usually looking forward to these calls, if only to learn how Disney is doing as a company, and now we know when to expect the next one.
A LOT has happened in the Walt Disney Company over the last few years.
Disney 100 Logo At D23 Expo
In 2021, after Bob Iger left his position as the company’s CEO and was replaced by Bob Chapek, several executives also stepped down. Of course, we now know that Iger ended up RETURNING as CEO of The Walt Disney Company, but one of those executives went on to get a new gig…at TikTok.
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