Disney stock is struggling. It closed the day on Thursday, August 24, 2023 at $82.47. That is its lowest close since October 16, 2014, nearly ten years ago. What is going wrong – a lot? Theme park visits are way down, the latest movies have been flops, and Disney + went from being a hopeful part of the company’s future to a disappointing viewership collapse.
Disney’s misfortune heavily impacts the toy industry. After all, Disney owns most of the intellectual property the toy industry licenses. And as we all know, movie licenses are the lifeblood of the toy industry. If Disney movies fail at the box office, the amount of bankable licenses decreases.
Most commentators were happy when Bob Iger returned to Walt Disney to take back his CEO position from Bob Chapek. So far, he has disappointed, as witnessed by the company’s current stock price. He is more interested in proving he’s formidable than a sensible leader making pragmatic decisions.
The Walt Disney Company is not going anywhere. They will get their mojo back. But,it’s time for a new generation of leadership. Let’s hope Bob Iger decides to move out and let some younger executive move into these jobs.