Bob Iger’s return as Disney CEO in November 2022 was met with numerous challenges facing the company – some of which he’s admitted still exist.
Walt Disney CEO Bob Iger has outlined a number of problems that the company is facing in recent interviews. It’s clear that Disney subsidiaries like Lucasfilm and Marvel Studios have recently come under pressure for their poorly-performing films and television shows, but poor box office returns are just the tip of the iceberg. The impact of Covid-19, saturated streaming competition, shifts in consumer preferences, content costs, and geopolitical challenges have all put strain on the company.
Pixar’s latest original title, Elemental, was marketed poorly and had a catastrophic box office return. Despite its charm, whimsy, and craft, Elemental released in a summer brimming with new titles that meant it didn’t crack $30m in its opening weekend.
Pixar’s Disney+ Releases Backfired Massively Bob Iger has admitted the Disney+ strategy hurt Pixar. Where once Pixar was a box office juggernaut capable of dominating the animated movie sphere for decades on end, 2022 has seen the box office of its leading release Elemental dwarfed by Illumination’s The Super Mario Bros. Movie and Sony’s Spider-Man: Across the Spider-Verse, the former of which earned nearly $1.5b.
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