Disney just had a brutal shareholder meeting. Iger and Chapek looked like they were shell shocked.
Now admittedly, this is going to be a brutal quarter particularly for an entertainment company. But Disney is going to take it in the teeth. Disney Cruise lines are probably going to be ordered into ports. The parks are going to be drastically under-performing this summer. And NONE of the upcoming movies are going to hit the billion dollar mark. Mulan isn’t going to cut it, neither will Jungle Cruise. The magic isn’t there. Disney Plus has run out of steam early due to a lack of content.
The stone has been rung dry.
There were a lot of hardball questions getting asked. This wasn’t he usual Iger stroke-fest. This was rough.
Bob Chapek looked like he was making a Gulf War Iraqi POW video. “i am very happy to be the disney ceo. i am treated well. i am given a bed with two sheets and two meals a day with plenty of rice and beans. red beans…the nice ones.”
Funniest line, “Lucasfilm is doing great!” And apparently that was the one problem that even angry shareholders didn’t want to face.
The brightest good news that Bob Iger had was, “this is going to be a sobering year.