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Bob Iger is back as Disney CEO effective immediately

noreenkate

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I don’t believe genie+ will be going away…it’s an easy money grab…I do think that we will see it become the new “free dining” promotion to encourage onsite stays if and when demand for rooms slows down….
 

rickandcindy23

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Parks were packed when we were there this past year, and we were there for several weeks. How is Disney stock not doing well? I don't get how the financial markets work. The crowds at the parks should be an indication of an increase in the stock price and the total profit, right? I understood that DVC members and annual pass holders were not buying food and souvenirs, yet they got rid of AP's and are charging outrageous daily prices for admission. Stock prices should be crazy high right now.
 

ljmiii

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Parks were packed when we were there this past year, and we were there for several weeks. How is Disney stock not doing well? I don't get how the financial markets work....
Disney Parks, Experiences, and Products is making record profits. It's Disney Media and Entertainment Distribution that is losing truly unbelievable amounts of money. Chapek created this monster (taking responsibility away from the content divisions) and put his handpicked guy to run it (into the ground). Iger's #1 priority was/is firing the guy and undoing the damage to the media businesses.
 

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DMED was in the black for both the quarter and the year. It did not lose "unbelievable amounts of money" but it was significantly less profitable than it was a year ago. Bob 2.0's immediate sins were (a) not giving enough guidance about how much they'd be spending (aka losing) on D+ and (b) not being sufficiently apologetic about it. The narrative that is emerging from what appears to be a carefully placed whisper campaign is that he also wasn't sufficiently nurturing of the creatives in the company (which may well be true).

It's probably also fair to complain about the fact that at the P&L level, the broadcast, theatrical, and streaming units were all combined into one thing, but they are arguably very different businesses. The profits from broadcast and theatrical are hiding the massive losses in streaming. Iger played the same game at a smaller scale by folding what was then electronic gaming (a big loser) into consumer products (always profitable).
 

TheHolleys87

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Genie Plus for 6 people is $120 per day.
This past Monday (11/21) I paid $61.78 for 2 people!
Yep, Genie+ pricing now varies, and you don’t know until day of purchase what the price is. Today it’s $29 plus tax per person. Many with park plans for Christmas week are anticipating $50 pp, but no one will know until then.
 

mdurette

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How well did it work? How many rides did you get for your $$$.

Not bad, especially since the parks were so darn busy. But, I really had to "work" it.
Some of us had left over days on Salute tickets that already had Genie+ so, we purchased because easier for all of us to have it.


MK: Big thunder, Buzz, Parade viewing spot, Haunted Mansion, Jungle Cruise, Pooh, Monsters, Pirates, Little Mermaid.
Could have gotten splash, but didn't want to get wet.
Could not get Dwarfs or Space Mountain

Epcot: used on everything, except Frozen Did Virtual Que for Cosmic
 

rickandcindy23

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Staying at Disney and arriving one hour before park opening, not just the 30 minutes for early park hours, seemed to do the trick for us in getting into lines for the key rides. But we were there for 28 days. Didn't buy Genie + and waited in lines. The predicted wait times were at times completely off.

We did go to the Halloween party. The two little kids and I rode Peter Pan that night 3 times, and some other rides were also just walk-on.
 

Deb & Bill

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Chapek was Iger's pick. Most of what happened when Chapek was in charge was in the works under Iger. Don't expect much different. Just a bit friendlier way of grabbing your wallet.
[Political comment redacted.]
 
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pedro47

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Staying at Disney and arriving one hour before park opening, not just the 30 minutes for early park hours, seemed to do the trick for us in getting into lines for the key rides. But we were there for 28 days. Didn't buy Genie + and waited in lines. The predicted wait times were at times completely off.

We did go to the Halloween party. The two little kids and I rode Peter Pan that night 3 times, and some other rides were also just walk-on.
That was an awesome 28 days vacation for the children and your family. Wow, I bet those were some magical Disney moments for everyone at Disney World. OUTSTANDING.
 

DanCali

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Parks were packed when we were there this past year, and we were there for several weeks. How is Disney stock not doing well? I don't get how the financial markets work.

Parks are just one aspect of their business. There are also movies and now Disney+ is a big chunk too.

On the movies side, things have never really recovered since the pandemic (perhaps the upcoming Avatar movie may help), several movies went straight to streaming, and recent box office releases failed to impress revenue-wise for reasons that can generally be debated elsewhere. I will just briefly quote several lines from Variety Online describing their last 2 box major office flops, leaving personal commentary out:

Variety Online: (Lightyear) Pixar’s next feature film, “Lightyear” — starring Chris Evans as the putative real-life inspiration for the “Toy Story” character Buzz Lightyear — does feature a significant female character, Hawthorne (voiced by Uzo Aduba), who is in a meaningful relationship with another woman. While the fact of that relationship was never in question at the studio, a kiss between the characters had been cut from the film. Following the uproar surrounding the Pixar employees’ statement and Disney CEO Bob Chapek’s handling of the “Don’t Say Gay” bill, however, the kiss was reinstated into the movie last week.

Variety Online: (Strange World) "The animated feature introduces viewers to Ethan Clade, a biracial, openly gay teenager who gets completely tongue-tied when he’s near his crush, Diazo."

Lightyear grossed about 25% of what Toy Story 4 grossed back in 2019. Strange World just came out recently and is on track to lose the company $100M+. Regardless of one's opinion regarding the plots, keep in mind that quite a few countries refused to even air both of these movies at all, including China and it's 1.5 billion population, because some of the content is banned in those countries.

On the Disney+ side, I am actually surprised myself that they are losing money. I guess content acquisition is expensive, and there is a lot of competition with other streaming services (Netflix, Amazon, HBO, Paramount+, Peacock etc). But they did just raise prices and also had lots of people who went from paying $4/month to full price (the 3-year advance purchase promo they had back in 2019 through D23 - I was on that myself). That may help.
 
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rickandcindy23

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That was an awesome 28 days vacation for the children and your family. Wow, I bet those were some magical Disney moments for everyone at Disney World. OUTSTANDING.
Yes, it was! Two weeks with our oldest son and his family, two weeks with our son #2 and his family. We had a blast. It was all about being together. I would not hesitate to go four weeks again, but school schedules are standing in the way of those long trips. Even our Elizabeth is in kindergarten now.
 

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Here now and have noticed a huge improvement in cast members. They seem happier….we were here end of October also…..and many seemed unhappy and not the usual ”go out of their way to help “ attitude. And they are saying Merry Christmas. And on the monorail we heard “ladies and gentlemen, boys and girls”. Chapek had eliminated that greeting For the opening of the MK in the mornings and other places. The crowds seem lighter than they were in October, but that was Food & Wine and Halloween.
The Candlelight Processional at Epcot was very moving (Isabella Rossellini was narrator). And we did the extra Magic hours at Epcot last night. So between 9:30 and 11:30 we did Soarin, Finding Nemo, looked at some aquariums in that pavilion, spaceship earth, test track (single rider line), and Frozen (twice in a row).
The weather has been nice too.
seems to be more Christmas decorations in the resorts than last year too.
 

dioxide45

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We went to MK yesterday afternoon. We have Florida APs. We noticed the park was very busy. Though people didn't start getting spots for the parade until about 30 minutes before. There are a lot of shenanigans that happen for parade spots. We were next to a thoroughfare that was to remain "open" till the parade starts. here is a tip. Show up last minute to one of these places where they have people crossing the parade route. Then voila, you have a front row seat. We did notice that the people tending to the parade route seemed to be quite happy. I am not sure the new CEO has that much to do with it as I would expect they are pretty far removed from any decisions he is making, but maybe not. Perhaps it is more just a mental thing than anything actually tangible.
 

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We went to MK yesterday afternoon. We have Florida APs. We noticed the park was very busy. Though people didn't start getting spots for the parade until about 30 minutes before. There are a lot of shenanigans that happen for parade spots. We were next to a thoroughfare that was to remain "open" till the parade starts. here is a tip. Show up last minute to one of these places where they have people crossing the parade route. Then voila, you have a front row seat. We did notice that the people tending to the parade route seemed to be quite happy. I am not sure the new CEO has that much to do with it as I would expect they are pretty far removed from any decisions he is making, but maybe not. Perhaps it is more just a mental thing than anything actually tangible.

I know they renew, add, and reinvent the parks a lot and we sometimes may splurge on FL resident deals to go for 3-4 days and we have lots of fun.

We had annual passes back in 2011, and kept them for 2 years until the kids stared to complain "Disney again???". I also wasn't happy about their annual price hikes at the time, but when you look at where prices today, my aggravation at the time about $30 price increases is somewhat laughable. Here is what we paid in 2011 for 2 adult and one child annual (FL resident) passes - about $400/person on average. I just dug this up in an old email...

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And those were not the cheapest - parking was included, spring break and summer were included etc. I just looked how it compares to current passes (all looks very different from then) - I think what we had was probably equivalent to the Sorcerer's Pass. Looks like they are not even selling those now because they are so busy, but that seems to cost about $950 - That's a 135% price increase in 11 years (8% compounded growth per year). Their inflation index seems to exceed even college tuition! :bawl:

Yet they still fill the parks, so they must be doing something right.
 

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9 changes Disney fans want returning CEO Bob Iger to make at parks​

Disney die-hards cheered Iger’s return. Now they’re demanding changes.​

…Their overall request: Bring back the magic. Many had specific ideas about how to do that.​


Stop requiring reservations for parks
Allow park-hopping earlier
Abolish Genie Plus
Make annual passes available again
Reinstate the free airport shuttle
Bring back dining plans
Stop charging for MagicBand
Lower prices
For conservative fans, abandon ‘woke’ changes
 

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9 changes Disney fans want returning CEO Bob Iger to make at parks​

Disney die-hards cheered Iger’s return. Now they’re demanding changes.​

…Their overall request: Bring back the magic. Many had specific ideas about how to do that.​


Stop requiring reservations for parks
Allow park-hopping earlier
Abolish Genie Plus
Make annual passes available again
Reinstate the free airport shuttle
Bring back dining plans
Stop charging for MagicBand
Lower prices
For conservative fans, abandon ‘woke’ changes

While I agree with a lot of that, it's hard to see how they give up the lucrative profits associated with the current strategy to appease these fans.

There was a very interesting article in the WSJ recently describing their relatively new strategy of maximizing revenue per visitor instead of the actual number of visitors. The Florida/California Resident annual passholder who comes for half a day with a sandwich in a ziploc bag, rides a couple of rides and maybe buys an ice cream cone is not that critical to them. They would much rather have the people who come from far away, splurge on hotels, expensive souvenirs, and all the extra add-ons to maximize the rides that can enjoy over 3-4 days. Apparently, it's working... they are making a lot more money with fewer visitors. Here is a link to a slidehow summary of that article (no WSJ subscription required)

 

TravelTime

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Maximizing revenue/profit per visitor makes a lot of sense to me. I agree that people who pay more should get more. I wish Marriott Vacation Club would use this approach.
 
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Regarding cast members and my previously stated observations. We always chat with cast members…..and as DVC owners, we see many of the same ones at our different resorts. A lot were not very happy with Chapek. Apparently he reduced the nice perks they received for admission to parks. He also caved to demands of a very small group of employees….many were very upset about that…this same small group also causes other issues amongst fellow employees. The consensus is the aftermath of that ”caving” helped propel Chapek out the door. Disney had a great thing going with Reedy Creek.
I read in a financial piece from Bloomberg or Forbes? Can’t remember….but it seems Chapek was using some creative accounting to make it seem like Disney + was doing better than it actually was.
Also, WDW can’t continue to cater to wealthier people and expect to fill all of their value and moderate resorts going forward if they don’t return to some of the things that made a trip seem more affordable. We‘ve heard from friends and friends of our adult kids and other acquaintances…….once and done. People were shocked at how much food cost them on property. Those trying to save money by driving had to pay $20 to $25 a day to park at their resort. If you wanted to get on the popular rides, you had to shell out $15 per person per day for Genie…..plus extra (from $12 to $20 depending on ride and day of the week) for lightening lane for newer rides. They seem to be changing rules and pricing every few days too.
I can’t figure out why Iger hand picked Chapek as his replacement. Chapek was carrying out many things Iger had already put in place (Except the Reedy Creek thing). And I thought the timing of his “retirement” was interesting….. I do give credit to Chapek for navigating Disney (in Orlando anyway…can’t speak about Disneyland because I don’t pay attention to it) during the pandemic. Slowly reopening resorts, then parks and trying to get things back to normal took tremendous effort…..am wondering how much they lost on a daily basis with Shanghai Disney…..it just reopened a few days ago.
We did not purchase any food or meals on our recent 10 day trip. Everything is way way way overpriced. Not having the dining plan or the Tables is Wonderland card keeps us away from the restaurants and counter service. We bring and cook most of our food and beverages. We have been going off property to places like Chick Fil A or getting grab and go at Publix or Winn Dixie. I would spend my money on site if it felt like I was getting something for my money.
We are lucky we didn’t let our annual passes lapse. I would probably be renting out my points to others if I didn’t have an AP …… it just would not be worth it, as we go at least 3 to 4 times a year.
 

rickandcindy23

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We take sandwiches to the parks and eat them, then we leave early enough to get dinner elsewhere. Saves a lot of money, and I can stay on my eating program without worrying about it much. We also take canned soda, but that is for Rick, not me.
 

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. The Florida/California Resident annual passholder who comes for half a day with a sandwich in a ziploc bag, rides a couple of rides and maybe buys an ice cream cone is not that critical to them.

Look - they kinda IMO threw the baby out with the bath water on this IMO. Not all AP holders were Fl/CA residents bringing a sandwich. Out of state we’re always welcome to purchase the top tiered passes at full price…& let’s not forget DVC I was lucky enough to get most of my families APs back after the reopening…Lots of DVC owners not so much…it’s crazy to me that DVC isn’t being offered passes it’s insane that you have a large group dubbed as Disney’s “CASH COW” cannot purchase even if they are benefit eligible- people that have promised to spend their vacations there for minimum 20 years an exemption can’t be made- seriously a Florida resident can still purchase a pixie pass or discounted multi day tickets


I am not local, my neighbors on both sides also aren’t local and aren’t DVC but the current state of the AP and what kept us all going to WDW year after is largely gone. On both sides neighbors that went every school break for a week have not only given up their passes this year but are no longer vacationing @ WDW…

The park reservations system alone has been keeping me personally away. Last week if took me 2hours to get through the dam park reservation system for 1 day at MK with stitch eating the page at that point I was discussed and no way was I about to look for dining…, another profit source they aren’t using- where is the dam dining plan Josh D promised to return in 2022- (20 days to go and no word) we all know that the ddp and TiWL were hugely better for disney than the consumer.

We headed over to universal for the rest of the 5 day stay- no reservations for park or dining necessary heck they even handed us cute little window decals for the car when we valet parked the car. If I wanted to get on a ride I got inline, if I wanted to use express pass ( cause it’s built into UAOP ) I did not pay extra no playing with my phone nonsense…

I booked an exchange into OKW for next year- mostly as a hail Mary room for Tron previews and pretty sure I will be spending most days at Universal, Seaworld ect if my guesstimate is wrong…
 
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Parks are just one aspect of their business. There are also movies and now Disney+ is a big chunk too.

On the movies side, things have never really recovered since the pandemic (perhaps the upcoming Avatar movie may help), several movies went straight to streaming, and recent box office releases failed to impress revenue-wise for reasons that can generally be debated elsewhere. I will just briefly quote several lines from Variety Online describing their last 2 box major office flops, leaving personal commentary out:

Variety Online: (Lightyear) Pixar’s next feature film, “Lightyear” — starring Chris Evans as the putative real-life inspiration for the “Toy Story” character Buzz Lightyear — does feature a significant female character, Hawthorne (voiced by Uzo Aduba), who is in a meaningful relationship with another woman. While the fact of that relationship was never in question at the studio, a kiss between the characters had been cut from the film. Following the uproar surrounding the Pixar employees’ statement and Disney CEO Bob Chapek’s handling of the “Don’t Say Gay” bill, however, the kiss was reinstated into the movie last week.

Variety Online: (Strange World) "The animated feature introduces viewers to Ethan Clade, a biracial, openly gay teenager who gets completely tongue-tied when he’s near his crush, Diazo."

Lightyear grossed about 25% of what Toy Story 4 grossed back in 2019. Strange World just came out recently and is on track to lose the company $100M+. Regardless of one's opinion regarding the plots, keep in mind that quite a few countries refused to even air both of these movies at all, including China and it's 1.5 billion population, because some of the content is banned in those countries.

On the Disney+ side, I am actually surprised myself that they are losing money. I guess content acquisition is expensive, and there is a lot of competition with other streaming services (Netflix, Amazon, HBO, Paramount+, Peacock etc). But they did just raise prices and also had lots of people who went from paying $4/month to full price (the 3-year advance purchase promo they had back in 2019 through D23 - I was on that myself). That may help.
My understanding is the a Disney insider went to the Board about the financial games Chapek was playing. His number one mission was to build Disney+. It was losing massive amounts of money (8.5 billion since 2019). To hide this fact, he played shell games, opening content made for Disney+ in other venues first so he could then charge their entire budgets to those budget lines. Thereby, hiding the losses. The Scarlett Johansen debacle also didn't help. You don't want to alienate your A-list stars. All of whom were aware of that incident.
 

mdurette

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I received this email yesterday. A step in the right direction trying to reconnect with guests.

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Dear Mxxxx

As we approach the end of 2022, I wanted to take a moment to express my gratitude to the biggest Disney fans in the world – all of you.

Disney is fortunate to have the most devoted and enthusiastic fans, and I was reminded of this a few weeks ago when I visited Disneyland Resort and attended the Candlelight Processional. It was invigorating to be surrounded by so many guests who make what we do possible. We love your passion for our company and your enthusiasm for what we create, and we will continue to do our best to exceed your highest expectations.

As you know, next year Disney will mark its 100th anniversary. We are immeasurably grateful to the generations of fans all around the globe who have invited our stories and characters into their lives, and we look forward to celebrating the groundbreaking moments, the cherished memories, and the creative visionaries that made Disney the most beloved name in entertainment over the past century.

During the coming year, D23 will launch a slate of exciting events to mark this historic milestone. More information can be found here.

Looking at all the opportunities ahead, I can honestly say there has never been a better time to be a Disney fan. It is an extraordinary privilege to lead this remarkable company again, and I am so grateful for your continued passion for Disney. On behalf of all of us at The Walt Disney Company, I wish you a wonderful holiday season and a very happy and prosperous New Year.​
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Best,​
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Bob Iger
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© Disney​

view
 

TheHolleys87

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We got that letter too. I knew immediately it was sent to D23 members due to the email address it came to.

It would be lovely if he sent something to DVC members too. There seem to be more than a few on various forums who feel neglected, ignored and disrespected.
 
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