It seems the Walt Disney Company’s CEO, Bob Iger, is feeling exhausted and overwhelmed after the company has seen multiple flops at the box office this year. Iger came out of retirement to help put the company on a better path. Although, it seems he’s really struggling to help Disney get back on the right track.
According to Bloomberg, sources close to the CEO describe him as “overwhelmed and exhausted” as he deals with Disney’s recent losses at the box office, the loss of Disney+ subscribers, and declining attendance at Walt Disney World.
Film Flops
This year we saw the release of several big box office films, including “Ant-Man & The Wasp: Quantumania,” “Guardians of the Galaxy Vol. 3,” “Indiana Jones and the Dial of Destiny,” “Elemental,” a new “Haunted Mansion” movie, and a live-action remake of “The Little Mermaid.” However, it seems most of these films really didn’t do as well as anticipated at the box office.
“Indiana Jones and the Dial of Destiny” made $383 million at the global box office. However, it only just surpassed its budget of $300 million. “Haunted Mansion” had a budget of $150 million and the film only saw $24.1 million domestically in its opening weekend.
“Elemental,” which had a budget of over $200 million, earned only $29.6 million at the box office and came in as one of Pixar’s lowest-grossing opening weekends of all time.
In total, reports estimate the company has lost an estimated $900 million across several underperforming movies this year.
Disney+ Subscriber Decline
Disney+ was once on the rise as the all-new streaming service to offer some of Disney’s greatest hit films and television shows. Although, it seems this allure might have cooled off for some as the company reported a subscriber loss of 7.4% in the second quarter of the year. The company went from a reported 157.8 million paying users to 146.1 million.
What are your thoughts on Bob Iger being described as “exhausted and overwhelmed” by sources close to him? Let us know in the comments!
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