The Other BIG Problems Disney Will Have to Face in 2024

Disney World is in for a BIG year in 2024.

Why? Well, the CEO (Bob Iger) may be staying on until 2026, but the search for his successor continues. Plus, the Company will have to deal with the impacts of the writers’ and actors’ strikes, pressing deadlines for major Disney parks projects, ongoing lawsuits that could result in some major changes, and more. So today we’re taking a look at some of the huge problems Disney will have to face in 2024.

Continued Search for a Bob Iger Successor

Bob Iger’s contract for his second term as CEO has been extended until 2026, which leaves open the possibility that he could get another extension in the future (not unlike the numerous times he delayed his retirement during his first stint as CEO). But even if 2026 is the year Iger finally leaves Disney…for good…there’s a lot of work to do in the meantime to ensure the Company is ready for his departure.

A few more years of Iger’s leadership might seem like a lot, but time FLIES when you’re running the Most Magical Company on Earth and thus far it doesn’t seem like anyone has officially been tapped to fill Iger’s shoes.

Rumors have swirled regarding potential successors and even some potential successor hopefuls from Iger’s first time as CEO have reportedly been brought back to Disney as advisors, but thus far no official successor has been identified as far as Disney has shared.

Considering how things played out with Iger’s last CEO successor pick and the Board’s dedication to finding the “right” person to be the next CEO this time around, we expect 2024 will feature a continued search for the next head of the House of Mouse.

And with 2026 getting closer and closer, efforts may intensify in 2024 to find and train the next leader. But will Disney find the “right” person to fill the job? Only time will tell.

Click here to see more about the extension of Iger’s contract as Disney’s CEO

Lawsuit Problems

Disney is in the middle of a number of lawsuits at the moment, but some specifically involving Florida Governor Ron DeSantis and the Central Florida Tourism Oversight District (previously called the Reedy Creek Improvement District) could prove to be particularly important in 2024.

There are two lawsuits at issue there — one filed by Disney against DeSantis and the District in Federal Court regarding Disney’s constitutional rights, and another filed against Disney by the District in State Court regarding agreements Disney entered into with the old board.

In terms of the Federal Case, DeSantis has requested that the trial for the lawsuit take place AFTER the presidential election in 2024. Disney, however, has called for a July 15th trial date (which is the first day of the Republican National Convention).

The determination of a trial date there and ultimately the outcome of that case could be crucial, given that Disney is asking the Court for some serious relief — the likes of which would almost serve as a hard reset button for the Reedy Creek District, putting Disney back in control.

In terms of the state court lawsuit, Disney had attempted to dismiss the case, but the judge there recently denied Disney’s motion, meaning the case will move forward. It’s possible that this lawsuit will also hit some critical points in 2024 with some serious impacts on the District that runs the land on which Disney operates in Orlando.

We’ll continue to keep an eye out for updates on these cases. Unless they somehow get settled or otherwise resolved out of court, 2024 could prove to be a big year for them.

Click here to see what CHANGE has been announced for Disney’s Reedy Creek District

Movie Struggles

Next up, we have a major battle Disney will have to face in 2024. 2023 has already proven to be a bit of a struggle on the box office front with Disney when it comes to films like Pixar’s Elemental and the new Indiana Jones movie.

Though, according to Deadline, Disney owned 5 of the 20 top-grossing films of 2023 as of July 2023, some of the movies simply haven’t hit the box office results certain individuals and investors may have hoped for.

On top of that, Disney has already announced a number of delays for its upcoming Marvel movies and more. Complicating matters more now are the actors’ and writers’ strikes. That could cause more movies to be delayed — including several that were set for release in 2023.

Will Disney’s movies fare better at the box office in 2024? Will shifts in movie release schedules cause serious issues with Disney’s financial results from the movie side of things? How could some of the studio’s biggest projects be impacted by the strikes? That all remains to be seen, but Disney could be dealing with some major movie complications in 2024.

Click here to see how everything CHANGED for Bob Iger overnight (particularly in response to his comments on the strikes)

Meeting 2024 Park Deadlines

Various projects that fall under Disney’s Parks, Experiences, and Products division are set to open in 2024. Some may be very close to completion or at least on track, but if Disney encounters delays or other issues, it may hit some stumbling blocks in making these projects a reality on time.

And if Disney delays projects, it runs the risk of disappointing its biggest fans, impacting Parks revenue, and causing concern among its shareholders.

Here’s a look at some of the big projects set to open in 2024:

1. NEW Cabins debut at Disney’s Fort Wilderness Resort & Campgrounds (Disney World)
2. New scenes debut at the Star Tours attractions in Disney World, Disneyland, and Disneyland Paris
3. Disneyland Hotel Royal Transformation is completed in Disneyland Paris
4. Disney Vacation Club Villas open at Disney’s Polynesian Village Resort (Disney World)
5. Disney Treasure Cruise Ship debuts
6. Fantasmic! returns to Disneyland
7. Fantasy Springs expansion opens in Tokyo Disney Resort
8. Lighthouse Point (Disney’s NEW private island) has its inaugural cruise season
9. Opening of Tiana’s Bayou Adventure (transformation of Splash Mountain) at Disney World and Disneyland
10. Downtown Disney expansion could be completed in Disneyland

That’s a LOT for Disney to work on in the coming months, so we’ll be interested to see if any plans change as time goes on.

Click here to see opening timelines for Disney World’s upcoming attractions

Disneyland Expansion

Speaking of parks-related projects, one major thing being worked on right now is the DisneylandForward project. Essentially, this is a campaign Disney has been working on that could impact its ability to build new theme park, hotel, and retail spaces at Disneyland Resort in California.

Though their actual footprint in California would not change (in terms of acquiring new land), they are seeking to have some zoning and planning regulations updated which would provide them with the flexibility they want to develop new spaces within the Resort.

Disneyland has been working with the city of Anaheim to update the planning approval process that impacts the resort. A draft environmental study of the impact of the changes is expected to be done in the summer of 2023. After that, the proposal will go to the Anaheim Planning Commission. But 2024 is of critical importance because that’s when the DisneylandForward proposal will go to the City Council. As each stage is reached, we could get some big updates in terms of just where this project could be headed.

Click here to learn more about DisneylandForward and how it could CHANGE Disneyland Resort

Stock Concerns and More

But wait…there’s MORE. First, Disney has been taking a hard look at its traditional cable TV networks, including things like ABC. In July of 2023, Iger even hinted at the possibility of selling ABC.

In an interview with CNBC, Iger was asked about ABC and cable networks and whether he’d look to sell them. He mentioned that Disney would be “expansive,” “open-minded,” and “objective” in how it thinks about traditional TV. “They may not be core to Disney,” he said.

Reportedly, Iger has brought on some former Disney executives to advise him as to the next steps to take with these TV networks. So things could really start changing in terms of Disney’s involvement with these more “traditional” methods of entertainment soon.

On top of that, Iger has mentioned that Disney is open to finding a partner that could take on partial ownership of ESPN. He said that Disney wants to stay in the sports business but they’re open to looking for “strategic partners” that could help with “distribution or content.” He also said there’s an “inevitability” of taking ESPN directly to the consumer (essentially focusing it on streaming).

2024 will also be a big year for Disney in terms of its potential acquisition of Hulu. In a CNBC interview, Iger pointed out that Disney has an agreement with Comcast that calls for “a transaction of their stake to us…sometime in 2024.” Iger shared that Disney has “concluded that we would be better off having Hulu than not having Hulu.”

In fact, Disney is already working on incorporating Hulu as part of the Disney+ app. Iger confirmed that the expectation is for Disney and Comcast to come to an agreement on Disney’s purchase of the 33% of Hulu that they don’t yet own. Disney’s acquisition of the remaining interest in Hulu will likely mean a big expense for the Company in 2024 but also a big acquisition with a lot of potential for the future.

On top of all of that, Disney has seen some serious decreases in stock value lately, something shareholders likely want addressed ASAP but the issue could stick around in 2024 if values don’t increase.

Iger has also indicated that the Board has been asked to reinstate the dividend by the end of the 2023 calendar year, another thing that could become a big deal (Deadline). Addressing investor concerns is nothing new but will likely be an issue Iger and the Company as a whole will have to continue to deal with in 2024.

While this is the list of challenges we think Disney will have to face in 2024, this doesn’t take into account any unexpected problems that may pop up in the coming months, of which there are bound to be some. In short, 2024 could be a challenging year for Disney.

Only time will tell what actions the Company takes to keep its fanbase and shareholders happy while facing all of these issues. We’ll continue to keep an eye out for important Disney updates and share those all with you.

Click here to see how Disney’s reputation has DROPPED

Which of these problems do you think will be Disney’s biggest issues in 2024? Tell us in the comments.

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