Disney Waiting For Economy to Fail, Experts Say

Posted on by Mathew Corn Animal Kingdom, Disney Parks, Epcot, Hollywood Studios, Magic Kingdom

Via InsideTheMagic.net

Walt Disney World Resort is actively waiting for the economy to fail, according to reports from experts in the field.

Many Disney Park fans who have visited Magic Kingdom, EPCOT, Disney’s Animal Kingdom, and Disney’s Hollywood Studios over the past couple of years have taken notice of changes in operations over that time.

Many have noticed that Disney is not quite as clean as they remember it. Others have reported unsightly damage. Many other fans have talked about price increases and merchandise failures.

However, one thing that continues to be at the top of everyone’s mind is Disney annual passes.

Disney paused its selling of annual passes nearly a year ago and other than a small window where passes appeared to be for sale a couple of months ago (it turned out to be a false alarm), they have remained unavailable for Disney Guests.

While many have wondered when these might become available again, a couple of Disney insiders recently explained that the company has no incentive to bring them back right now and they likely won’t, until an economic collapse occurs according to reports from Florida Politics.

“Disney doesn’t have much of a reason to bring back the full slate of annual passes right now. Disney World is generating record revenue and operating profits with fewer guests than before,” said Rick Munarriz, an analyst for the investment website The Motley Fool who regularly writes about Disney Parks. “Disney’s annual passes will come back when the global economy buckles to the point that visitors can no longer pay the cover charge for a Disney gated attraction.”

magic kingdom monorail with cinderella castle and space mountain

Another Disney expert echoed those same sentiments.

“The thing that might bring back APs sooner rather than later is an economic slowdown. Airfare is pretty expensive right now, so getting here is costly,” said Len Testa who runs Touring Plans. “I could see a situation where, say, kids go back to school in September/October, and fewer people are willing to spend hundreds of dollars on airfare for a long weekend. In that case, Disney would look to locals to make up the difference, especially in things like restaurant revenue.”

Disney Parks are currently running at capacity and it wouldn’t make sense for Disney to attempt to bring in more Guests when it is already operating with such volume.

While fans may be hoping for Disney annual passes– which include the Pixie Dust Pass, Pirate Pass, Sorcerer Pass, and Incredi Pass– it seems they may have to wait until an unfortunate collapse of the economy for them to return.

Rey and Chewbacca at 'Star Wars': Galaxy's Edge

Here’s what Disney says about its annual passes:

Annual Passes allow you to enjoy the magic all year long. Now is the time to answer the call and discover all the possibilities a Walt Disney World Annual Pass can bring.

To enter a theme park, each passholder must have a theme park reservation in addition to a valid pass. Park reservations are limited and are subject to availability and applicable pass blockout dates.

New sales of select Annual Passes are currently paused. Please check disneyworld.com/pass for the latest updates.

Disney Fires Back At Environmentalist

Posted on by Mathew Corn Disney Parks

Via DisDining.com

A group of people are rather upset about the VIP World Tour. It wasn’t about the cost ($110,000!!!), or even the fact that it was so exclusive that only 75 people get to go. They were upset about the carbon emissions produced by the lavish around the world vacation.

The tour will take guests to 6 countries on 3 continents with stops at 12 Disney parks around the world as well as the Taj Mahal, the Pyramids of Giza, and the Eiffel Tower! As you might imagine,  they won’t be flying coach either. Guests will be wished around the world in 24 days aboard an IcelandAir custom fitted VIP Boeing 757. The long range plane will include every possible luxury for the guests aboard. 

It’s the plane that has people up in arms. A spokesperson from UK environmentalist group Transportation & Environment told the Guardian “Only the privileged few get to fly, exploding their annual carbon footprints with just one such holiday. And while the price may seem extortionate, it doesn’t even adequately reflect the true cost of the pollution.” 

The group argues that the low passenger rate compared to the carbon emissions from the plane average out to 6.2 tons of carbon dioxide pollution per paying guest in just a few days. They further claim that this is more than double the amount of carbon dioxide pollution per person annually in low income countries. 

Disney has something to say about that. A spokesperson from Disney has stated that they will be monitoring the carbon emissions produced from the dream trip and have plans in place to offset it. They went on to explain, “investments in high-quality, certified natural climate solutions” that would “result in verified emissions reductions. Our investments in these projects also prioritise providing co-benefits like conserving habitat for wildlife, creating jobs, protecting water resources, and reducing impacts from floods and soil erosion.”

In an official statement Disney touted their commitment to the environment stating, “[Disney has] a long commitment to protecting the planet and delivering a positive environmental legacy for future generations”. The Walt Disney Corporations environmental impact report states that they have planted 9+ million tress, have more than 292 acres of solar panels at Walt Disney World alone, and in fiscal year 2021 diverted 80 thousand tons of waste from landfills with promises that this number will increase annually.  

Disney’s Conservation Fund also has donated over $120 million dollars “to save wildlife, inspire action and protect the planet”. The funds mission statement says that “Disney Conservation is committed to saving wildlife and building a global community inspired to protect the magic of nature together”.

Disney’s Reputation Is Plummeting Fast, According to New Survey

Posted on by Mathew Corn Disney Parks

Via InsideTheMagic.net

The Walt Disney Company is taking a major hit in terms of its reputation, according to the latest survey.

Beginning Oct. 1, 2021, Mickey Mouse and Minnie Mouse will host “The World’s Most Magical Celebration” honoring the 50th anniversary of Walt Disney World Resort in Lake Buena Vista, Fla. Mickey and Minnie will be joined by their best pals Donald Duck, Daisy Duck, Goofy, Pluto and Chip ‘n’ Dale all dressed in sparkling new looks, custom-made for the 18-month event, highlighted by embroidered impressions of Cinderella Castle on multi-toned, EARidescent fabric punctuated with pops of gold. (Matt Stroshane, photographer)

Disney has been no stranger to controversy over the last several months as the company has found itself involved in several disputes and controversies with government entities and fans alike.

After being lambasted for remaining quiet, Disney took a hard stance against Florida’s Parental Rights in Education Bill, which has been tabbed as the “Don’t Say Gay” bill by its opponents. Shortly after, Disney saw Florida Governor Ron DeSantis threaten to take away its self-governance, including the Reedy Creek Improvement District, and lawmakers discussed the possibility of taking away the “no fly zones” that currently are in place at Walt Disney World Resort and Disneyland Resort.

Disney also took a hit from many fans over its involvement of a same-sex kiss in the Pixar movie Lightyear and not including Tim Allen, the original voice of Buzz Lightyear, in the film. The movie bombed at the box office, being surpassed by many other films, including Universal’s Minions: The Rise of Gru.

If this all weren’t enough, Disney has also taken hits from fans in the way it has handled the Disney Parks over the last year. Many Disney Park Guests have been frustrated with Disney’s new Genie+ system and there have been many reports from fans that the Parks simply “aren’t the same anymore” and that the “magic is gone.” Many have also complained about constant price increases and, specifically, the new Star Wars: Galactic Starcruiser, which opened by charging more than $5,000 for its experience.

The Axios Harris Poll takes the 100 “most visible companies” and gets thousands of Americans across the nation to rank those companies based on many different metrics. Just last year, Disney was ranked No. 37 on the list, but the company has now dropped a significant 28 spots to No. 65 overall.

disney enchantment fireworks

Disney scored a 73.4 overall, which has now seen its score categorized from “excellent” to “very good.” Disney ranks 80th on the list in trust, 72nd in trust, 71st in culture, 52nd in growth, 44th in products/services, 62nd in citizenship, and 58th in vision.

Here’s more about the Axios Harris Poll 100:

The Axios Harris Poll 100 is based on a survey of 33,096 Americans in a nationally representative sample. The two-step process starts fresh each year by surveying the public’s top-of-mind awareness of companies that either excel or falter in society. These 100 “most visible companies” are then rated by a second group of Americans across the seven key dimensions of reputation to determine the ranking. If a company is not on the list, it did not reach a critical level of visibility to be measured.

Report Says Bob Iger Thinks Appointment of Chapek Was One of His “Worst Business Decisions”

Posted on by Mathew Corn Uncategorized

In early 2020, Disney CEO Bob Iger shocked and saddened Disney fans worldwide when he publicly announced that he would be stepping down from his CEO, effective immediately. Iger said that he would be stepping into the role of Executive Chairman and Bob Chapek would become CEO — with the two men working together for a smooth transition. Unfortunately, that smooth transition never happened, and the two men reportedly had a falling out and now barely speak. Iger has maintained his popularity with Disney fans — many of whom beg him to come back — while Chapek has struggled to find his footing, with petitions even circulating calling for his termination.

The Walt Disney Company CEO, Robert Iger arrives for the World premiere of Marvel Studios’ “Avengers: Endgame” at the Los Angeles Convention Center on April 22, 2019 in Los Angeles. (Photo by VALERIE MACON / AFP) (Photo credit should read VALERIE MACON/AFP via Getty Images)

Now, in a bombshell new report from Business Insider, we are learning just how tumultuous Iger’s time working with Chapek was and how much he seems to regret the decision to name Chapek as his replacement. Per Business Insider:

Bob Iger thought he would spend his final year as Disney’s CEO on a global goodbye tour, bidding a personal adieu to the dignitaries and employees who helped create Shanghai Disney and theme parks from Tokyo to Paris. 

Instead, according to several Disney sources and others familiar with Iger’s thinking, the executive spent 2020 and 2021 watching COVID-19 devastate the company he had led for 15 years — and regretting what he has called one of his worst business decisions: the selection of Bob Chapek as his successor.  

According to insiders, Iger made an agreement with the Board of Directors that he would help guide Chapek as the company dealt with the COVID-19 pandemic and as Chapek figured out his own direction as CEO. Sadly, things didn’t go that way and Chapek made a series of decisions that Iger did not agree with and, to Iger’s surprise, Disney’s Board stood behind the new CEO.

Bob Iger and Mickey Mouse

Since becoming CEO, Chapek has made a series of decisions that have not gone over well with Disney fans and Disney shareholders. Not only did Chapek get into a public spat with Marvel star Scarlett Johansson, but he also fumbled the company’s response to Florida’s controversial Parental Rights in Education bill. Most recently, Chapek abruptly fired Disney’s Head of General Content — Peter Rice. Many felt that Rice directly threatened Chapek’s role as CEO.

Bob Chapek

None of those sat well with Iger, and he has not been quiet with those he knows about his feelings. According to Business Insider:

While morale is described as terrible among many content-side executives, Wall Street is giving Chapek the benefit of the doubt for now, counting on a rebound at the company’s parks, where margins are expanding thanks to big price hikes. After hitting an all-time high of over $200 in March 2021, Disney’s share price has fallen 41% year-to-date.

Iger meanwhile has continued to voice his regrets. He has said he did not know that Chapek was such a “novice” when it came to handling complex issues like talent management and political battles, and that Chapek was arrogant and uninterested in other people’s opinions, said the former Disney exec. Chapek defenders say he has made bold moves in restructuring Disney and led huge capital spending projects at the parks. A Disney spokesman declined comment. 

“For many of us who are deeply loyal to him,” Iger’s choice of Chapek was “confusing,” this person said. “No one expected it to fall apart this fast.”

Even though Iger is no longer a part of Disney and his relationship with Bob Chapek is non-existent, friends say that the former Disney executive is “still rooting for Disney to win.”

Disney Pays 1500% Premium to Air Formula 1

Posted on by Mathew Corn Disney+, Uncategorized

Formula 1 is the fastest growing sport in America. The international auto racing series regularly sees about 1.4 million American viewers each week, that’s a 53% increase in viewership from last season. This rise in viewership is thanks, in part, to the tumultuous championship race at the end of last season where decisions by the race authorities allowed for a dramatic ending. Max Verstappen snatched the title of World Champion from the hands of race leader (and 6 time World Champion) Lewis Hamilton at the last second after a very tense and evenly matched season. The rise in viewership also owes much to Disney+ competitor, Netflix, who produces a show about the racing series called Formula 1: Drive to Survive. 

It’s this series that prompted something of a bidding war for the rights to stream F1 races in America with Netflix vying to wrest the rights from Disney, who currently owns the streaming rights and regularly airs races on ESPN. In the end, Disney won out but it cost them. In order to keep the rights they paid 1500% more (you read that correctly,  that’s 15 with two zeros). That’s not an insignificant chuck of change. In fact, that’s approximately 75 million dollars. This secures Disney the exclusive rights to stream the growing sport in America for another 3 years. 

If this season is any indication, Disney made a good choice. Ferrari’s Charles Leclerc and Redbull’s Max Verstappen are locked in a close race for the championship. Its either mans game at this point. Mercedes’ Lewis Hamilton is throwing his hat in the ring as well and making a comeback against all odds. It’s definitely a season to remember. 

Next year will see an additional race come to America which will drive the sports popularity even higher in the country. For years, the US Grand Prix in Austin Texas was the only time the racing circuit came to America, making it relatively easy to forget in the minds of Americans. Next year however, they will race in Austin as they’ve done for years, Miami for the second year in a row, and they will add a race through the streets of Las Vegas for the first time ever. That will be a race worth seeing and well worth Disney’s bid for the streaming rights. 

Lightning McQueen and F1

This is not the first time F1 and Disney have teamed up! In 1995 F.O.C.A Administration (which would later become Formula 1) signed an exclusive merchandising deal with Specialized Licensing Services, a wholly owned subsidiary of Disney. More recently, however, F1 legend Michael Schumacher and current drivers Fernando Alonso, Sebastian Vettle, and Lewis Hamilton lent their voices in Pixar’s animated film, Cars.