From CNBC: 2024-04-02 09:24:33

Disney is facing financial struggles at the box office, with revenues dropping below $9 billion in both 2022 and 2023. This decline has been attributed to factors such as pandemic shutdowns, Hollywood labor strikes, and difficulty connecting with audiences. The studio’s recent releases have failed to reach the billion-dollar mark.

Activist investor Nelson Peltz has criticized Disney’s board and sought a seat for himself, pointing out the company’s recent commercial disappointments. Peltz has questioned Disney’s creative process and content strategy, suggesting that audiences go to movies for entertainment, not messages. He has also expressed concerns about the studio’s failed succession plans and disjointed streaming strategy.
Bob Iger, Disney’s CEO, has acknowledged the challenges facing the company and the need for fresh content and fewer sequels in the Marvel brand. He emphasized the importance of entertaining audiences over messaging and expressed optimism for a turnaround in 2026. The upcoming slate of movies includes highly anticipated releases from popular franchises like Avatar and Star Wars, which analysts predict will drive box office success.



Read more at CNBC: Disney cinematic drought primed Peltz proxy fight