What Is Disney DOING?! Are They Lying To Us | Bob Iger Townhall speech breakdown It Doesn't add up
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- čas přidán 23. 07. 2024
- I am so confused by what Disney is doing and saying.
THIS IS MY OWN RESEARCH AND MY OWN CONCLUSIONS keep in mind this is SPECULATION
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You are one of the most truly positive Disney vloggers out there and I love how you don’t look for problems and issues but also do not shy away from speaking truthfully when it matters.
Thank you. I appreciate your comment.
@@provostparkpassand I appreciate you right back. 😉
Yea make it kids and Family friendly instead of Woke garbage and that’s needs to get out of Walt company
You guys need to realize the old Disney is no more. It's a completely different company since Iger and his evil gang took over. I'm proud I've boycott all their products - theme parks, Disney+, all their latest movies including Marvels, etc. Fk them 😊
Not as easy, they destroyed all good faith we had with them. Its will take them multiple movies and few years for people to trust them again.
Disney had a winning formula. They could have kept raking in the cash and continued doing what they do best. But they chose to mess with the formula, trying to fix what wasn’t broken and ended up breaking things. Creativity and consumer satisfaction brings lasting profits. Walt was not only a businessman but a creative visionary. Robbing consumers may have made them richer, but bankrupt where it matters most.
Less politics, more family friendly fun.
I can't imagine bringing my future children to Disneyland with all the filth that's happening inside the company.
@@axolet I don’t see any politics in Disney. Where are the politics in Disney? Filth? What filth?
I miss 80s and 90s Disney. You are spot-on with your analysis.
Bring back Eisner
You are on the mark Chris. When the leader of a company is wishy washy that creates less confidence in the investors and employees. Uncertain times we are living in.
They moved away from their traditional, generational loyal customer base to trying to appease groups that are not capable of being loyal to a company...but they were greedy and thought if they show they can placate certain groups that are stomping their feet and throwing a tantrum, that they would profit. And I think they did have that initial bump, but they also did things half-@$$ed, which is fair considering a Flippy floppy target of customer.
But they stepped on 90% of their usual consumer base to do that. They took it to the place of being completely oppositional. They could've been more inclusive in a graceful family friendly way but they haven't. It's been downright disturbing several times.
The crazy thing is there are still way more people of the traditional values that still want to invest and attend parks etc, due to how strong the nostalgia is, and always wanting to share generational values and fun with new generations. But I think they will see a massive exodus of consumers if they continue to make erratic woke choices. Liberal or conservative - most of their customers are SICK of the way they are doing this.
So they are teetering on the edge still. Which is more challenging because of the economy. So they are trying to give "deals" that most people don't consider deals anymore especially when they feel they aren't being heard by Disney.
I agree with you. Most people think the term “woke” means homophobic or not accepting, and in reality it’s just people not wanting this culture where everyone has to agree on everything or else you’re canceled. In addition to families slowly but surely being priced out of any Disney experiences, theme park or otherwise, they’re just not understanding they’re missing the mark. People don’t want new and shiny. They want traditional and values
Good video Chris! I love your optimism and kindness.
As for Disney, I grew up going to the parks, and I was raised on the classic animated movies. The renaiisance hit right when I turned 12 and I was in the perfect place to enjoy all that new content. Now, they are rewriting those movies instead of exploring the world and telling us new stories about interesting places and times. They have also priced families out of their parks and only seem to want really wealthy people there. I simply cant afford to take my kids and be the Disney fan I used to be. They keep telling me they dont want my business through their decisions and it breaks my heart.
Hi Chris. I believe Disney listened to the "squeaky wheel" and forgot who was their core audience. As a whole, I believe Disney management thought the loudest people would support them financially, but instead alienated their core supporters.
Exactly 😔
The business is simple as long as you keep your goal in sight- magic for everyone that walks through the gate or into the theater . People will pay almost any price if they feel like their time and money are well spent. When the goal becomes the bottom line, you've now become like everybody else. The core remembers the magic. Unless Disney wins back the core, they're only a generation away from being a has been.
Disney knows what consumers want. They don't want to give that to them. They will go under at some point if they don't change their ways.
Exactly. But Fans are losing faith to Disney. You might have noticed there are less people that go to Disney because of Woke and not following the source material
I agree with you. I honestly think it’s contributed to the reason why some of their recent animated movies performed poorly, people didn’t want to run into more woke culture material so they held back. They broke the consumers trust
Disney needs someone to run this company from outside the Disney Bubble. They need a new board and get some of these Iger "yes people" off the ship. Iger wouldn’t even allow Chapek to run the company without him hoverimg ober his shoulder.
Just taking another moment to laugh at all the Iger simps that thought he would be the great savior for Disney
Instead, he was again exposed as one of the key players for Disney’s fall from grace
I was once a big Disney fan and I like Bob Iger but the company is a hot mess right now. I think in recent years Disney has become too arrogant and pretentious.
Iger is a moron and purposely destroying the company.
Yep. It’s dying because of their woke decisions
The Disney board and management are completely disconnected from their customers. There needs to be changes as they have damaged one of the greatest brands ever created. The problem is arrogance - they thought they could tell their customers what was good, and the customers would just drink the Kool-Aid. People know what they want, especially for their kids.
Exactly, This☝🏻
I am talking to you!
Our family loves you and yours so much!
❤
I think it's really interesting that from the sounds of things Disney is finally starting to realize that they've lost a lot of consumer trust. Also, thank you for explaining the business side of this stuff for laypeople who don't know much about how that all works.
It's Disney, they always lie and never ever apologize lol. Corpo 101. I appreciate you speaking the truth, I'm tired of the disney shill influencers that think they never do anything wrong, lol.
Disney needs to lower prices so the normal family can enjoy and stop jacking prices up, they are money hungry, NOT what Walt wanted for his parks
The reason they don’t align with their customers is that they are overpricing everything so we are taking our money elsewhere where we get more for our money.
I personally think a lot of it is getting more RESPECT as a consumer of their product. They seemed to loose track of who their loyal customers are. Of their core base in an attempt to be greedy, which is why they sprang for wokeness in the last several years.
A LOT of people have uninvested and stopped attending parks due to their broken policies and sticking their noses where they don't belong with politics.
Disney's success has relied on the consistency, even while they adapt and also do new amazing things- it's always been a balance.
Just as Walt was all about valuing the family first- generations coming together and finding innocent commonality. That was the THING that made the initial success so massive, and when they kept that the top priority while keeping up with technology and being forward thinking in that sense...even with some practicality mixed with fantasy! ❤
But the more they shift to pleasing new groups based on what's hip on social media etc .... They are actually losing money. Lol Because most of their core loyal base doesn't want that.
So it'll be interesting to see if they actually fire the main culprits behind a lot of this...or if they keep displacing their traditional values with a chaotic scramble to appease louder but smaller groups of fans that quite frankly aren't loyal to much...they are trying to squeeze money from unstable people in new ways and from a corporate standpoint, it makes sense. But considering they already have that core group and should not be desperate enough to NEED the other groups...they shouldn't be doing that. They saw it doesn't work. They are trying to please the mob of people that are never pleased! Lol It's a black hole in a sinking ship.
They need to go back to relying on the families that have generational nostalgia and seek to continue that. Not people that are so selfish they seek validation for every breathe they take.
@@ari3lz3pp My feelings exactly! Well spoken!
Don’t forget the horrible product and politics
@@ari3lz3ppThink it’s too late and they’ve lost a good amount of what were loyal customers forever
@@ari3lz3pp Your perceptions are very acurite! Families are Disney's core audience. Those who are not family oriented (or worse, anti family) are not helpful to Disney's pursuit of happiness. Those are ideological streams that run in opposite directions. Since the history of Disney, it's very stated purpose is entertaining families, that stream needs to be followed. The current running the other direction will always be, by nature, a fraction the size of Disney's core audience. Placate the fraction at the expense of the core majority? A very bad business decision.
I really don't think most true Disney devotees care who is woke and who is sound asleep. What I have seen over the last 20 or so years is Disney leaving the demographic that made them what they are today behind in favor of the newer generations who seem to be in a big hurry all the time. My reaction to the video of you and Amanda running from one end of the park to the other to use your Geni app? "I'm not doing that!!" I get it. I really do, the newer generations are who are going to carry Disney forward. But, for those of use who are taking our grandkids to the parks are looking for the magic that we remember and it's just not there anymore. Theme park prices are leaving most people behind as well. My friends and I used to go to Disneyland every two years. We did five day park passes and stayed at the BW Anaheim inn across the street, it was still very affordable. I checked about a month ago and the price of a room was three times what our whole trip cost in 2018. I just checked and a 5 night Disney cruise is much cheaper. I don't want to go on a Disney cruise, I want to go to Disneyland, but not have to refi my home or race from ride to ride using an app on my phone. This is probably more of my opinion than what you wanted, but, you did ask.
Your comment is underrated. Few people actually care about Disney’s politics, and the only people who complain are the few who disagree with Disney’s position.
Money is what matters to people right now, and everything Disney offers has become overpriced. The “magic” feels less magical after you’ve sold your first born to buy the tickets. I’ve gone from being an annual pass holder to not going at all.
Next time the price of Disney+ increases or forces me to watch ads, I’m unsubscribing. Disney found the top of its pricing - does Disney management understand this yet?
Oh, so that's what someone meant by "like the Hunger Games" experience at the Parks. 😅
Try Euro Disney. Even with airfare, it is affordable.
Not true
For the new generation to know it the older generations have to show it to them especially when they are under 18
They can start watching them at that age
But the magic spell that births your imagination as a small child is not there
What you get is a casual/disinterested person who don't spend on the ip and will move on at a moment's notice for something better
As seen by the rise of anime
Something is definitely off at Disney. My wife and I just returned from Disney World to celebrate our 20th Anniversary. (We love Disney and the cast members and had an amazing time). But we also spent a lot on merchandise and gifts, including a few things from the Disney Springs Art store and had Disney ship them for us. Unfortunately, the items were just placed loosely in a large box with NO packing material to protect them and several expensive, hand chosen items arrived broken. We also ordered a few things from the online store when we got home (things we couldn’t get when we were there) and they arrived with the wrong items and one item, a $99 Haunted Mansion lighted chess set, was missing chess pieces from the factory. Hold times for customer service to report the broken missing products are 30-60 minutes, only to have the call drop (the drop was not Disney’s fault, but the 40 min hold was). And it took over a week for them to respond to my email about the issue. The quality of Disney merchandise fulfillment, which is a HUGE part of Disney, has taken a big dive! Something else that Bob Iger can add to the list. I love Disney dearly, so this breaks my brain.
Disney has completely lost the script. Universal is coming to eat Disney's lunch. I'm here for it. They've got to get back on track.
Yes, with the Potter's sequels and pre-sequels, the drop of attendance to the Mario's ride and with "moderate" buy of Comcast predictions
I’ll be impressed with Disney when they fix Disneyland’s Tomorrowland.
I think you are spot on. I can tell you had a real business background when you talk about the company. I hope they can figure out how to resolve the brand consumer problem because I don’t think they currently have a vision to fix that.
I'm disappointed in Iger! I thought he'd change things around but he hasn't! He's all about money that shouldn't even be a part of Disney. ESPN should NEVER be Disney! They make so much money just Disney. They want to control everything. Why can't they be happy with what they have. I think they need new blood in there that loves Disney as Disney. Bring back someone that believes in Walts dream.
I appreciate that you make these videos, Chris. I care a lot about Disney as a consumer, but I’m not the sort who would ever think to read an annual filing report or listen to a quarterly share holders call. I appreciate you compiling this corporate news and making it digestible for people like me. I know videos like this probably don’t perform as well as the high-energy, park experience videos; but I personally really appreciate that you do these. Thanks!
16:07 it's funny how Disney hid "ESG" in their language, while also having it clearly stated legally. Almost like they are afraid of being sued over it,
Chris, You did a great job laying out the current status of Disney business in regards to Bob’s comments. In order for Disney to fix their stock price is to get back to creating “magic” for their customers. Recently, my wife and I went through the new Treehouse at Disneyland Anaheim and we thought it to be awesome! As we went through, we both recognized how it had the “old” Disney magic built into it. The music, the whimsical, and the creativity. All were there to take you away from where you were and put you in this magical place. Truly great job done by whoever worked on this! If Disney gets back to this type of magic, there will be no where to go but up. Disney should stick to creating magic…not silliness. Keep up the great work Chris!
That's great to hear about the Treehouse. I heard Iger was making final walkthroughs and possibly requesting changes. I hope he had his hand into making it more what we want. I heard him talk once after he came back from retirement and I regained some faith that a return to a better park would be made. I hope that's true.
THANK YOU for addressing this- we have let our passes lapse, no longer stream and have essentially cut ties with the mouse as they no longer align with what we like for entertainment. We DO fly to visit the park owned by the oriental land company :)
Iger stretched the company too thin and brought his own political ambitions into how he was running the company. He has moved away from the Disney core audience and doesn’t understand why they didn’t move with him
Do you mean wokeness?
@@ari3lz3pp I just mean his political ambitions, you can label that whatever you want
@@mattwedgeworth7332
I’ll happily say “wokeness” and “political ambition.” It’s well known Bobby Iger had US presidential ambitions pre 2020. Shoving Disney toward the ideological far Left would endear him with the Democrat party and give him a step up. For example, his “Reimagine Tomorrow” program was created at this time. Add in general bad business decisions and Bobby has put Disney in the hole burying it.
@@chronomatt6990 Don't forget his pathological fixation on pouring resources into the Chinese Parks
@@chronomatt6990 I wholey agree, Im just not in the habit of using labels on which people can't agree on a definition. Counterproductive
Not only are they out of touch with their audience, but they have lost an army of talent and have no fiscal discipline. One has to spend big to make it big, but you can't throw money down the drain.
I wish these companies would tell the truth for once. Because they just want to look good, they talk in circles about the business making any progress. Great breakdown!
As soon as I saw that weird handrail behind you I knew this was desert palms, haha.
I think Disney was trying to appeal to new markets and it didn’t work. In the process they lost their main audience, families.
It’s extremely obvious what is happening, Walt created a company on family values, movies and the theme park. The current leadership has chosen to depart from Walt’s vision.
I absolutely LOVE that you covered this and did it in a way that expressed the confusion that a lot of us have.
I'm an OLD SCHOOL Disney kid. I grew up just down the street from Disneyland. I worked on the train way back in the late 80's. My take is that Disney has strayed away from the family image that Walt founded the company on...family entertainment. I don't want to throw the "woke or go broke" term around, but I think there are a large amount of activists that are in decision making positions within the Disney cast. This naturally starts to drive the direction of the company. With that I think they have drifted from their roots. I know there are a LOT of films that I had no interest in seeing, partially because I love the classics and don't want to see them as live action because that seems lazy to me ("We don't have any new ideas so lets just bring back something that was a success"). Secondly, it seems like they are over saturating the market with their merch. What ever happened to spirit jerseys coming out 1 at a time. Now there are 5 at any given time and some don't even tie to anything. I saw a pint spirit jersey and as I looked at it, NO character came to mind...not even a ride. Or they do what they did with the Mansion stuff, teal and pink, what does that have to do with the Mansion (full disclosure: that is why I went to work at Disneyland. I have blueprints from the ride on my office wall).
I also think that they spent a lot of money purchasing assets, then started to put money into the parks...then everything shut down.
So I think we have a situation that is like a 100 year storm. It is timing. I think if we didn't have the covid event Disney could have righted some bad choices that were made. Now they are so deep that there needs to be some HUGE shake up to correct things. There are some that have blinders on and think that everything is fine..."Stay on target, stay on target", but there are others that understand that things need to change.
and if I can give a shout out...DUKE, Duke from the canoes...love you brother. I'll text you later!
Thanks for stopping to chat with us Chris!
It was nice to finally meet you, your friends from Canada 😊
The leaders KNEW they were not aligned with what consumers wanted. Disney wanted to just be a big jerk about it and do it anyway.
Idk if you could tag videos like this with "business analysis" too, if you don't. Since that is part of your experience that makes your presentation of these things more unique. ✨ I like others too, to see various perspectives, but yours are one of my favorites and I think this is why. Your videos about this stuff are more concise and informative.
Whoa. Thank you. I really appreciate that. 💚💙
@@provostparkpass - I gotta second what @ari3lz3pp said!
It was great meeting you last night Chris! Thanks for all you do! Your videos are greatly appreciated!!
PPP, nice to see you telling it like it is. Sometimes I feel like you censor yourself to never reflect Disney in a negative light. Nice to see some objectivity. Very insightful video.
I think you are on the mark. I think Iger has been hiding something from the public since he returned. It's obvious there are multiple issues, and guests and investors are unhappy. I appreciate your thoughts on the matter.
You are 100% correct. Disney used to be all about the guest. What can we do or put out that will make this the ultimate experience for the guest. (Parks, movies, etc.) That changed. We are now consumers, and some are the looked down upon local consumers. We are no longer the focus. Disney was always my happy place. When I was young, I was engrossed in all the movies. I raised my kids on all those classics. When I became an adult, I started visiting the parks. They were mine. They made me happy, made me forget outside issues. I eventually became an annual pass holder. Disney was my heart. I no longer feel the same. I can afford to keep going, money is not the issue. The feeling is no longer there. It no longer feels like my happy safe place. I have been gluten free for 12 years. Disney was my safe vacation. I could go anywhere, personally talk to any chef, and they personally made me something wonderful. Now, you go to disney, and you are offered one gluten-free item on a menu, take it or leave it. And that isn't even available everywhere anymore. Now, I feel like a burden. I no longer feel like they care. I would give disney all my money, if I still had that safe feeling with them. But for now, I don't. My annual passes have expired, I dont plan on renewing. You lost me Disney. You are no longer the loving guest centered company that Walt built. I wish we could bring Walt back.
I LOVE that you have that business background to approach this all analytically. I really appreciate it. To me, the issue is less about Disney overall and just issues at the domestic level. There have been many bloggers in Tokyo and Paris lately and they all talk about how different it feels in a positive way. The vibe that comes from all theme parks, but especially Disney, is that profit is the ONLY thing that’s important, customer satisfaction be damned. It doesn’t help that the US population in general is so divided that appealing to anyone will upset the other 50%. There have been SO MANY cost cutting measures that negatively affect international visitors, such as not allowing any international guests preorder their Magicbands to pick up at the resort, which means none of them qualify for that resort discount. That attitude could be seen in the first night of Jollywood Nights with how poorly it was received. Iger needs to go speak to the people at Tokyo Disney to learn about ACTUAL customer appreciation and providing value for pricing. Domestic Disney is catering to the wrong crowd, because 50% of US Disney guests will be angry no matter what they do for the other 50%. Focused on the international tourists, we’re much easier to please.
The vagueness of Disney’s comment about misalignment of what they’re offering vs what the consumer wants is very unhelpful. Are they talking about the movies that have bombed? Are they talking about the reservation system? Genie+? Disney+? All of the above?
Also latest movies and upcoming projects. They ended up in a failure due to woke, feminism and trans. That’s Disney is goin down
I really appreciate your honest thoughts on this. I've always loved Disney and am really saddened by the turn it's taken. Here's hoping things start feeling magical again, both in the parks and movies.
This was spot on Chris, I loved your insight on this townhall. The things happening behind the scenes at Disney seem VERY crazy.
I made a more direct comment and*no one* has reacted to it AT ALL, but it's EXACTLY WHY I think Disney is having trouble! What have you heard about what's going on behind the scenes???
Your analysis of these contradictory and confusing developments is very plausible, and very helpful. Great job.
Thank you kindly!
Thank you for being honest without being awful. When I did a CZcams search to try to find out what's going on, my search results yielded awfulness, so I was waiting for you to post something. Thank you!
It all started when the CEO’s told their cast members not to say “Ladies and Gentleman or Boys and Girls “ just say dreamers. That should be your baseline to see how it’s no longer Walt Disneys vision any longer. 😢
I think you are spot on Chris. I'm happy that Disney is acknowledging the disconnect. Now, they just need to find a way to address it. I always thought highly of Bob Iger. I think he did a good job the first time around. Sadly, he should have read Thomas Wolfe before agreeing to return..."you can't go home again." I still like Bob, but I just don't think that he is the person that needs to be in charge now. The Parks are doing great...maybe it's time to give Josh a shot?
The problem is when you start taking sides and are perceived as promoting one side of a cultural wrestling match, you're risking the alienation of a lot of your customer base. Particularly when their base product starts to shift away from concentrating on traditional entertaining storytelling towards promoting your company "social" goals. With this 10K filing, Disney was forced to say the quiet part out loud.
While I'm thrilled to hear that Disney realizes they are no longer aligning with their consumers, I'm very frustrated to hear they think it's consumers fault. I'm with you Chris, I don't think their consumers have changed much at all. They pulled all these crappy things on us like reservations, genie plus, took parades away for a long time, barely show fireworks anymore and yet prices through the roof and we still freaking go!! We still freaking show up for them!! ALL the time!! Because we love Disney and the parks and the nostalgia. They need to love us back. End Rant. Thank you for all you do! 💖
Please keep doing these kinds of vids -- if Disney doesn't fix things, hidden Mickeys won't matter.
Think you nailed it Chris. It doesn’t seem too confusing. They tried something that has turned people off to the brand and are having to strategically release a statement regarding its failure. I visit the parks multiple days a month (am from NorCal) but have not watched their last several movies. I look forward to their future growth and realignment.
Big reason to stay neutral, and keep politics out of business. You're bound to offend someone one way or another.
Everyone they asked told them it was a good idea, turns out they only asked people in their echo chamber. They killed the blameless trust that people across the world had for Disney. That will take years to repair.
@RoastBeefSandwich exactly, with the idea of being an all inclusive company that includes values from all walks of life. You never ever pick a side or identify politically. It's like business practice 101... crazy they chose not so follow this and it's costing them heavily now.
@@dodgersfan5597 For decades when they did surveys of which brands do you trust most, Disney was always #1. I'm not sure if that's still true or not.
Neutrality supports the oppressor.
@parrisgarcia welp, sorry you feel that way. I firmly believe neutrality is the best practice. I respect your opinion but disagree. You dont have to take a stance one way or another to support or oppose someone's point of view. You're now seeing the costs of taking stances.
I appreciate what you said, because I don't understand anything business wise...at all!
I'm going to watch it through again & catch what I may have missed the first time!
Thank you, Chris!!!
I understand this is just your speculation at the moment, but I trust your Disney heart. You are as big a fan as the rest of us!!! ❤️
Chris, I think it would be better if you outlined what you said on paper (well on your channel here) in print, so we could follow along. My apologies, but you can be long winded and subscribers who are interested, like me, can't follow. I believe that business leaders can play up something and, if they get bad news, downplay it next hour.
@@richardhales92
Well said, Disney friend!
It may be easier to follow if it's written down. Thank you, Richard!
Speaking out loud on National Television!! You nailed it!! Love the way you cut through “the fluff” … totally agree with your speculation!!
Thanks for the straight talk, love it!!
On CNBC, no less. You don’t “float out ides” in a CNBC interview. They trot those out at D23 😂
They content they give the rest of the world and the content they give us is different.
Very thoughtful video Mark. From my POV they are indeed in huge, huge trouble. One of the rather unique strengths or powerful "gimmes", if you will, of Disney was that each generation raised the next on their films and parks. They have largely broke the chain and I don't think they can recover from this. It's a bit sad but frankly I'm so exhausted with this company that I'm apathetic. I'll still watch your vids though!
Chris! Amy and I met you Wednesday near the Matterhorn, I had the Padres hat on. Thanks for being gracious with your time!
Another way they misalign with customers is the prices at the theme parks/resorts. It takes the average family a lot of time to save just to visit. Also since the parks make them money, they need to do more with refurbs, general upkeep, and new attractions that don't take forever to build.
While Disney parks are financially doing great, I just was at Disneyland/Cali Adventure for last week, and I've never seen so many major attraction breakdowns. Even more odd they were happening at the beginning of the day, right after rope drop, so they could never open (Rise, Cars, Big Thunder, Mickey's Railway - these were right from opening) that it felt like the engineering team got in 5min before opening and just noticed it was broken. I know they used to spend the nights fixing/maintaining, but it feels like a LOT of that is not happening. The sentiment around the park (overheard LOTs of others echoing my thoughts) was they have never seen anything like that and it is such a waste. So while the cost-cutting made the financials look great, it is a major risk-point, as the lack of maintenance and investment into the existing will cost them everything as there was LOTs of unhappiness around the park. Lightning lanes we actually paid for (Cars) were 20+ minutes long going half-way down the street in Cartland, that's the only way we were able to ride it due to breaking down. Spent a lot, and just so disappointing....
I think part of the ESPN release of financials was partially related to the matter they're now partnered with Penn Entertainment on gambling with the new ESPN Bets sports betting app. Everything with Barstool Sports was scrutinized when they were working with Penn and even more when Penn bought out the rest of Barstool. The gambling licenses can just be pulled at any time which is why Barstool was sold back for $1 after Penn locked down this ESPN deal. I think it is how much they monetize on ESPN and then maybe ultimately sell it off but if they can milk everything from the licensing of the sports betting, then the streaming and so on.
I think that Disney’s has a disconnect with the people.
Thanks, Chris. This stuff is hard to deal with. When the dream becomes business it’s difficult. Thanks for bringing us the news. We love ya.
I knew it was the Desert Palms in the first .5 seconds 😂❤
For heavens sakes. These executives need to remember what Disney was meant to be by it’s creator. Before doing anything, ask: is this the way Walt would want it to be. That’s the Disney we know and love.
Yes! Exactly!
keep the technical content coming please, I enjoy listening to the business side of things. thanks for the education
i love how your background affects your content!!!! it’s so appreciated and realistic!!
The problem is Bob is scared. The company has had loss after loss from their movies this year and they don't seem to have anything in the pipeline for the near future that they have confidence in. Disney+ expenses still weigh heavily on their bottom line with no real sign of getting better anytime soon. Add in the political climate and their DEI agendas seem to only have made their brand undesirable. They have the solutions, but current management is too proud and stuburn so they continue to make bad decisions.
In short, they are *TOO* beholden to the whims of BlackRock and Vanguard, two of the biggest shareholders of Disney stock.
They also raised prices too much on the Disney parks while reducing the experience just to try to offset Disney+ losses.
@@sabatashi Which has benefited Universal Orlando, a place now experiencing a major tourist boom. Just wait until the Epic Universe expansion opens in 2025.
@Sacto1654 indeed, Black Rock Vanguard State Street are the ones pulling the strings. Iger's just their puppet
Not sure I agree with this, @@Sacto1654. After all, they're costing Vanguard and BlackRock hundreds of millions (if not billions) of dollars in the depressed share price. MTC
I feel completely vindicated seeing all the people acting like Iger would save Disney and have a fabulous legacy all the while I was like, "He's the reason things are the way they have been, what's he going to save it from? Himself?" My brother-in-law and aunt were drinking that Iger kool-aid, nothing at all is in good shape. Nothing. The shine is off on every element. That is not good. Iger bought so many properties and tried to expand so much and thought it was too big to fail. Does it still look that way now?
I think it might be interesting asking did the pandemic cool things off for those who travel to Disney? How about inflation? How about CZcams when we look at the fascinating, newer things Universal Parks offer when we go to the same Disney Parks? Sometimes I'm content on just watching CZcams & everyone else enjoy theirselves than pay out airfare, hotel, car rental, and the cost of the parks just to say I did it.
Hard disagree. Chapek nearly broke the company.
@@iamthesayyadina I owned Disney stock and hope for all the best for the company, as I visited as a child; I'm worried because things can be cyclical and the prices (even reduced under Iger) are hard to afford. Chapek didn't reign for very long, and the company still has me worried.
Wasn’t just Iger, or Paychecks
Iger maxing out the credit card by purchasing 20th Century Fox in a bidding war, thinking he would easily pay it off with big earnings from the theatrical divisions, was a grave error.
It is soooo telling that even people who love Disney like you do and like I do are all left saying the same kinds of things, "Disney, I love you, what in the world are you doing?"
Calling 2023 a year of fixing Disney seems more delusional than dishonest. Even their theatrical "successes" lost more money than they made, and they look to have six films from 2023 that will make the all-time money-loser list. Companies blaming their customers for their losses is way too common and makes me sad, because it offers little hope for true correction. Any chance they can bring in an A.I. Walt to get the ship back on course?
Long-time Disney employee/Cast Member here (Disneyland, Disney Interactive, Disney Consumer Products), Disney has ALWAYS been "woke." Always. They're one of the most diverse and tolerant companies on the planet. My feeling is, Chapek did A LOT of damage to the company and the brand. Iger had to be brought back to do damage control. The company could do a lot more than they're doing now, like bring back the Wardrobe/Costumes department as it used to be at Disneyland, where CMs would turn in a dirty costume and exchange it for a clean one. There were CM locker rooms where you changed out of your street clothes into your costume for your shift. If you were on Pirates and were sent to Mansion because it needed more people, you'd go exchange your costume for the rest of your shift to work Mansion. Now, CMs are responsible for cleaning their own costumes which is why many of them look worn and unkempt because they actually should be professionally dry cleaned and pressed. It costs the company more money that way, but that's the standard the Parks used to have.
I used to work there too. Disney Look is out of the f**king window now, friend.
I used to buy my own collared shirts because the ones at costuming were terrible.
@@dynamicmediacurations Part of that was a result of Disney needing to recruit from pools of people who previously wouldn't have met The Disney Look. They needed to recruit those people as the ones they let go, didn't come back.
Forget the Disney Look; a lot of the new CMs don't even have the right attitude to be working in a theme park. I was at Disneyland a few weeks ago, and I saw a group on new hires being lead on park tour. The frustrated HR trainer was trying to get them to say happy birthday to guests wearing birthday badges, and at least half of the new hires wouldn't even do it. If they make zero effort in orientation, I hate to see how they will behave two months in. Before covid, they would have sent them packing to the unemployment line.
Great reporting Chris!
Thank you... I always wondered what a Time Machine really sounded like. 🙂
Thanks Chris. Good video. It’s hard not to get political with these things but unfortunately that isn’t possible. A lot of these companies, ESPN and Disney have gone out of their way to put a large group of people instead of staying above all of the politics. Instead of bringing people together with sports or entertainment they’ve helped with the division. I don’t have an answer of how this is fixed, but just being the kind person you are is a great start.
I don't know if a company saying we're not going to tolerate prejudice on any level, with the politicians breathing down their neck, is the wrong response and people can boycott the company but truthfully, they can use politics to tell their kids they can't go to Disney this year, but it may be because of the huge amount of money it takes to visit their parks or to pay for streaming when the kids are watching something different or because they've been to the parks a lot of times and it's time to try Universal Parks instead.
Did u read their SEC filing where they say getting involved with identity politics may have hurt the brand
@@gantz0949 I didn't read the Disney filing
Not only are many people not going to Disney movies anymore, but many of the people who went didn't like the movie, and due to inertia, people don't want to go to the next one. They have a serious problem.
The only reason the stock went up at all was due to the proxy fight with Nelson Peltz.
I just got back home last night, I was just at Desert Palms Hotel. I always wanted to meet you and the fam, love the videos
I found this extremely interesting. Thank you for breaking it down without the bias and the vitriol.
My pleasure!
Time to go back to the basics?? Story telling, creativity, and families. I know that in the imagineering documentary they said that the “what would walt do” mentally only got them so far, but maybe nows the time to think and ask What would Walt do?! Come on it’s what we all want!! 😃 either that or find us another Wells n Eisner
I just want to say I appreciate your experience and knowledge on the business side of things very much because I’m not so savvy and it’s really interesting to hear how things work. My opinion is Eiger is appeasing to the listener in each situation, but internally probably means about the same thingjust my two cents thank you again for what you do eagerly awaiting more❤
Thank you so much for laying this all out in a way that's easy to understand!
Thank you for the news. You are great!
It’s many things why consumers aren’t aligned with Disney from things like the reservation system that was put in during Covid, to the horrible magic key that restricts your use to changing attractions because someone thinks it’s offensive. It’s a simple formula we just want to escape from life every once in a while make that an easy and we will spend. Make it difficult or uncomfortable and we will abandon you.
Thanks for clearing that up, Chris!
I think your analysis is insightful, highlighting things that never occurred to me. It's unfortunate but I am still optimistic that Disney will rise above this period and maybe the pass holders won't keep getting squeezed financially. I'm also excited about future collab videos! Some of my favorites are with Jimmy Good and Ordinary Adventures. Will there be a collab with those creators soon? Love your channel and so glad your family is recovering from all the illness. You're amazing and can't wait for the next video!
Spot on analysis. But has anyone ever told you that you look like a real life Dilbert?! Love your videos!!
They put warnings on Aladdin for culture appropriate times like if you can't handle Aladdin you got bigger problems in life..😂😂
Great video, Chris!
My uncle was in the stock market sector and he would talk about this all the time!
So it’s refreshing to hear your perspective on the business side.
It just feels like they have relaxed on quality control and PR.
It’s very apparent.
I’m hoping that gets better in 2024, however.
Thank you for all of your hard work!🤗🤗🎄🎄🎅🎅❄️❄️
I was just talking about your channel yesterday and I said "I bet he lives near by and has an annual pass." See you in a hotel makes me second guess myself, haha! Thanks for the great content regardless.
Thank you for explaining all this news for us. I enjoy hearing your honest take on all that is going on.
Excellent video Chris, thank you!
I agree with csmith... And you nailed it Chris. Thank you for these updates.
The Brand not matching up with their customers is boardroom talk for "We priced out our customers. They can no longer afford our brand. Well, the people without children can, but families? they're dwindling!"
Disney/Iger need to wake up! We aren't sipping the kool-aid anymore.
You're right. There is a disconnect! I grew up in the 70s with Disneyland, and recently I stopped going to the the Disney Florida parks and doing Disney Runs because even as a Florida resident, they've gotten too expensive, and too crowded. There is no slower "shoulder" season anymore due to really long festivals, runs, and cheerleading/group conventions. Not only that, I find there's a disconnect with me as a male. There's really nothing for most men because it's all marketed to females. Disney is marketed as a princess park. You go to a Disney Run, and the almost the entire expo is sparkly skirts merchandise and run gear for women. They stopped the Marvel and Star Wars themed runs. With ESPN, they could have had some created some cool athletic sports-based character IP and stories to use in the parks. There could be other ESPN themed runs & athletic event challenges to attract athletic males and females. The Disney Star Wars trilogy IP was a female lead character, and they sidelined the OG characters like Luke and Han. Finn, and Poe didn't really have developed characters either, so the IP and merchandise for males didn't have fandom appeal like the OG Star Wars did. As far as rides and attractions there's Beauty and the Beast, Frozen, Moana, a ride is being re-done for Tiana, and there was going to be a Mary Poppins re-do of England in Epcot. Go to a store inside the parks and it's all capitalizing on the female dollar. While Disney Anaheim has Marvel attractions, there's none here in FL where I live other than Guardians of the Galaxy. Frankly, Disney thrill rides are very tame, and not as adventurous as coasters at other parks. Universal and Busch Gardens seem to have more thrilling rides and events. At Universal, IP and merchandise have a broader appeal, and is not just devoted just to princesses and selling merchandise to women. Some men and dads I know dread their Disney trips because it's mostly for young kids and princesses.
The fans know how to fix things. They just don't want to listen. They need to fire upper management.
The bearded lady cast members shows the disconnect with their guests we have been going for 50 plus years and we used to be treated as guest now we are customers
Humility is one of your strongest traits.
Disney/Iger have misplaced their finger on the pulse of society for a while now and they have been very reluctant to admit this. With this, I feel vindicated in that they themselves have realized their adjustments to Walt's formula for success are failing miserably. Having you, Chris, give us your opinion and your own confusion of what Disney's doing justifies that I'm not the only one feeling this way. Disney has been trying to cater to every spectrum of society but forgot their success came from their smallest fans: kids. Disney has left them behind and with it their success has plummeted.