Disney Shareholder Meeting Announcements Include Disney+ Subscribers Top 100 Million

 by Ray Keating

News

DisneyBizJournal.com

March 9, 2021

 

During its annual shareholder meeting today, The Walt Disney Company announced that its Disney+ streaming service subscriber number topped 100 million.

Disney CEO Bob Chapek said, “The enormous success of Disney+ —which has now surpassed 100 million subscribers—has inspired us to be even more ambitious, and to significantly increase our investment in the development of high-quality content... In fact, we set a target of 100+ new titles per year, and this includes Disney Animation, Disney Live Action, Marvel, Star Wars, and National Geographic. Our direct-to-consumer business is the company’s top priority, and our robust pipeline of content will continue to fuel its growth.”

 

As of the end of its first quarter on January 2, 2021, Disney+ subscribers had registered 94.9 million. The service is 16 months old and is available in 59 countries now.

 

All ten members of the Disney board of directors also were re-elected.

 

Bob Iger noted that this would be his last shareholder meeting, and he will be leaving Disney at the end of the year.

 

Beyond the Disney+ announcement, Chapek mentioned that Black Widow is still set for a theatrical release on May 7, and West Side Story will hit theaters on December 10.

 

In addition, Chapek said the company was looking to open Disneyland in late April. A firm date would be announced later.

 

And Remy’s Ratatouille Adventure will be opened on October 1 at EPCOT’s France pavilion, with Avengers Campus opening later this year at Disneyland’s California Adventure.

 

Finally, the Disney college program will be reinstated, but no specific date has been set. Chapek was hoping that it might happen by the end of the year.

 

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Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of the  Pastor Stephen Grant novels and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.

 

The views expressed here are his own – after all, no one else should be held responsible for this stuff, right?

 

Keating has two new books out. Vatican Shadows: A Pastor Stephen Grant Novel is the 13ththriller/mystery in the Pastor Stephen Grant series. Get the paperback or Kindle edition at Amazon, or signed books at www.raykeatingonline.com. Past Lives: A Pastor Stephen Grant Short Story is the 14th book in the series. Get the paperback or Kindle edition at Amazon, or signed book at www.raykeatingonline.com. 

 

You also can order his book Behind Enemy Lines: Conservative Communiques from Left-Wing New York  from Amazon or signed books  at RayKeatingOnline.com. His other recent nonfiction book is Free Trade Rocks! 10 Points on International Trade Everyone Should Know. 

 

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Disney Tightening the Belt and Cancelling Some Planned Attractions

by Beth Keating

News/Analysis

DisneyBizJournal.com

July 21, 2020

Like many of us across the country, Disney is staring down the barrel of an economic downturn, wondering exactly what the future of the U.S. economy is going to look like post-pandemic. Indeed, it’s not looking so hot right now as new COVID numbers continue to roll in, particularly in Disney World’s home state of Florida. This week, Disney announced a little belt-tightening of their own, permanently closing several rides, as well as one of their new-ish nighttime shows. 

It probably comes as no surprise that one of those now defunct attractions is “Stitch’s Great Escape” in Tomorrowland at Magic Kingdom.  (Actually, most of us thought it was already history.) A replacement for the previous “ExtraTERRORestrial Alien Encounter,” Stitch had been an on-again-off-again-sometimes-seasonal location that had neither operated regularly or even recently. It opened in 2004, but sort of closed in 2016 with only seasonal operations. It has functioned primarily as a location for character meet-and-greets since October 2017, which is where our family met Stitch on previous visits to the Magic Kingdom. At last year’s Mickey’s Not So Scary Halloween Party, Stitch appeared in that location for visits with partygoers, posing in his Elvis outfit. 

An interactive theatre-in-the-round creation, “Stitch’s Great Escape” recruited guests as “guards” to keep an eye on the other captured experiments, but Stitch ends up running amuck, with accompanying tactile scares for park guests strapped into harnessed seats. While not as terrifying as “Alien Encounter,” it was not for the faint of heart – or their younger kiddies.

In Animal Kingdom, the evening production of “Rivers of Light: We Are One” is currently dark because theatre shows are on hiatus under the COVID reopening plans. But Disney has confirmed that the show will not be returning even after the parks begin returning to “normal.” 

A relatively new show in Disney’s repertoire, “Rivers of Light” had morphed into “Rivers Of Light: We Are One,” incorporating Disney characters into the revamped show just last summer.  

The show, an amphitheater style staging in the Discovery River lagoon, originally debuted in February 2017, with the reconfigured version launching Memorial Day weekend 2019. Stunningly beautiful colors, floating lotus flowers, light up animal spirit guides on barges, haunting music, glowing lanterns, lasers, fountains of water, and projections on mist screens provided a serene, peaceful end to an Animal Kingdom park day. Obviously, there were no fireworks because of the animal population, but the slower-moving production was a love-it-or-hate-it kind of show. For our family, it was a one and done. We saw it, appreciated it, but probably wouldn’t have gone out of our way to see it again. 

Also at Animal Kingdom (and again, no one is likely shocked), “Primeval Whirl” is one of the rides now moved to the “permanently closed” column. The attraction, consistently plagued with mechanical issues, was only entertaining guests seasonally, and, in fact, had been closed the last few times our family was in the park. The “wild mouse” style roller coaster in the Chester and Hester’s Dino-Rama section of the park added to the colorful, carnival-like atmosphere of DinoLand U.S.A., but it was a bit of an anomaly – too crazy for little ones in spite of its cartoony, comic-book like appearance, and not quite wild enough for older teens. Most families just by-passed the ride altogether.  With its travelling through time with dinosaurs and meteors motif, it felt a bit like doing the tea cups on a roller coaster frame, with cars spinning in various directions as you careened over the tracks. It certainly earned its flippant nickname of “Primeval Hurl”… which my son and I both came close to doing on one visit.  Opened in 2002, it hasn’t operated since last summer, so it didn’t really come as a great bombshell that Disney has decided not to sink any more money into it.

Disney confirmed the Animal Kingdom changes in a cast member memo this week, saying, “As you know, when Disney’s Animal Kingdom Theme Park reopened to our Guests, several experiences, attractions and shows did not reopen with the park for a variety of reasons. While we look forward to adjusting our operation as we continue to learn and grow in our new environment, Primeval Whirl and Rivers of Light: We Are One will not reopen.”

Over in Epcot, where construction walls abound as the reimagined park chugs toward Disney World’s 50th anniversary next year, Disney has confirmed that the previously planned refurbishment of “Spaceship Earth” has been put on hold indefinitely. The announced “Cherry Tree Lane” Mary Poppins attraction near the United Kingdom Pavilion has also been handed a hold ticket. The Epcot Experience preview center has been updated, with Cherry Tree Lane removed.

On a more positive note, while Disney has not released any official word on “Remy’s Ratatouille Adventure” in the France pavilion in Epcot, construction seems to be continuing on the highly anticipated new ride. “Remy’s” was originally slated to open in summer 2020.  Construction also appears to be continuing on both the “Tron Lightcycle Power Run” rollercoaster in Magic Kingdom, and the “Guardians of the Galaxy” attraction in Epcot.

As for upcoming food locales, no word yet on an opening date for the “Roundup Rodeo BBQ,”  the new table-service restaurant that was due to open in Disney World’s Toy Story Land this summer.  “Space 220,” the Epcot table-service restaurant that was scheduled to blast off last winter, has faced numerous delays, and does not yet have a new landing date, either.

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Beth Keating is a regular contributor to DisneyBizJournal.

Disney Parks Investments Will Increase the Magic for Guests

by Ray Keating

Analysis/Commentary

DisneyBizJournal.com

December 4, 2019

Today, the biggest fans seem to be the harshest critics – which is kind of weird, if you think about it. Anyway, that strange phenomenon seems to be most glaringly on display when it comes to Star Wars. Indeed, there seem to be no harsher critics of various aspects of the Star Wars universe than Star Wars fans. 

But for The Walt Disney Company, this fan-as-biggest-critic happening is not limited to its Star Wars properties, but occurs with the Disney theme parks as well. Lots of people love the Disney theme parks, but that leads to these same folks being hyper-critical of the parks as well.

A regular complaint among Disney parks aficionados is the cost of attending Disney parks. Naturally, no one likes to see the price increase of something that they love to experience. And any company has to perform a balancing act when trying to find the price that strikes the right mix of revenue and market size when trying to maximize profits. After all, if you aggravate consumers to the point that revenue and profits decline, that’s a recipe for decline. 

At the same time, though, one of the big issues that complainers tend to either ignore or only mention in passing is that the quality of the guest experience at the Disney parks has increased by multiple times over the decades thanks to investments made in those parks.

And those investments continue to be made – indeed, perhaps at the most rapid pace in recent decades – as made clear by Disney’s new announcement regarding opening dates for an assortment of attractions and experiences. Consider the following:

• The Star Wars: Galactic Starcruiser – a hotel/space cruise experience - will open in 2021.

Source: DisneyParksBlog.com

• It was announced that Mickey & Minnie’s Runaway Railway in Disney’s Hollywood Studios will open onMarch 4, 2020.

Source: DisneyParksBlog.com

• In the summer 2020, guests will be able to enjoy Remy’s Ratatouille Adventure  in the France pavilion at Epcot.

Source: DisneyParksBlog.com

• Disney announced: “Mickey Shorts Theater in Disney’s Hollywood Studios will show an original short film in the style of the popular Disney Channel animated series ‘Mickey Mouse,’ and will feature photo-opportunity locations for guests.  Today’s new rendering shows the interior of the theater, including fun Mickey Mouse-themed seats.”

• Three new films will debut in Epcot on January 17, 2020: “Awesome Planet” in The Land pavilion; “Beauty and the Beast Sing-Along” in the France pavilion; and “Canada Far and Wide in Circle-Vision 360” in the Canada pavilion.

• Coming this winter is the Space 220 Restaurant, which will be an Epcot table-service restaurant positioned 220 miles above the Earth’s surface, offering impressive views.

• Also opening this winter will be the Regal Eagle Smokehouse: Craft Drafts & Barbecue, which will be a fast-casual restaurant located at The American Adventure in Epcot. The menu will feature regional barbecue and craft brews.

• For those who cannot get enough barbecue – like me – the immersive, family-friendly Roundup Rodeo BBQ Restaurant will open in 2020 in Toy Story Land at Hollywood Studios.

Source: DisneyParksBlog.com

• Oh yeah, and don’t forget that the Star Wars: Rise of the Resistance attraction opens in Galaxy’s Edge in Walt Disney World tomorrow (Dec. 5). And yes, Disney is ready with an array of related merchandise.

Of course, investments in new attractions and experiences are not cheap, and are meant to enhance the guest experience. That’s just worth keeping in mind the next time you hear knee-jerk complaints about the cost of going to a Disney theme park – yes, from the same people who expect ever-improving park experiences.

Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of the Pastor Stephen Grant novels. He can be contacted at  raykeating@keatingreports.com.