It’s been a year since Bob Iger returned to the Walt Disney Company to serve as CEO once more. 

His return followed a downward spiral on multiple fronts: revenue, park attendance, and creativity within the studios and production sites. Even two years after pandemic-related shut downs, the Company continued to suffer. Enter Iger. Disney fans and stakeholders alike hoped that the former CEO could turn this downward spiral into something hopeful. The final earnings call of fiscal 2023 shared the ways in which the company has changed and grown in the year that Iger has been back aboard. The question is… Was Iger successful in making the massive changes it would take to turn things around financially for the company?

Well, to an extent… yes. There were two major changes that Iger made in the past year as CEO, and they seem to be working out, based on the earnings report. Let’s talk about it! 

Mass Restructuring Throughout the Company

At the first earnings call of 2023, Iger shared that Disney would soon undergo a company-wide “mass restructuring” in order to sort of switch gears and put focus on Iger’s new priority: streaming. Throughout the spring, THOUSANDS of jobs were cut to reallocate finances to the growth of streaming and Disney+, where Iger believes the future of the Walt Disney Company lies.

So… based on the job cuts, we’re going to say that he did pull through with that promise of a company-wide restructuring. As hard as it is to hear of those cuts and reallocations of funds, based on the final earnings call of the year, something seems to have worked. Disney+ was able to grow by 7 million subscribers domestically, and overall, revenue is up per subscriber.  With a beta version of a combined Disney+ and Hulu app rolling out in December 2023, and more content becoming available to stream, Iger said Disney+ should start to profit by the end of 2024. 

Trajectory of In-Park and Disney Cruise Line Experiences

With pandemic-related closures, Disney saw a loss in revenue and park attendance that continued over the course of the next couple years. Throughout the past year that Iger has been back as CEO, it’s evident that an emphasis has been placed on updating the parks and cruise line experiences, with the announcements of more new rides, re-themes, and even a whole new cruise ship: the Disney Treasure, which will feature never-before-seen entertainment options. 

According to the earnings report, park attendance and revenue from in-person experiences is UP, and Iger said that we can expect to see the trend continue in 2024. With all new attractions like Tiana’s Bayou Adventure set to open, we’re interested to see how attendance and revenue will turn out.

We’ll continue to keep you updated with more Disney news, so make sure to follow along for more so that you never miss a thing and are always in the loop.

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What do you think of these changes? Let us know in the comments! 

The post Bob Iger Has Made Two Massive Changes at Disney first appeared on the disney food blog.