Walt Disney, the entertainment juggernaut, turns 100 years old in 2023 and arguably has never been more relevant. Its diverse stable of assets—iconic amusement parks, streaming service Disney+, film studios like Marvel, broadcasters like ESPN and ABC News—make it one of the world’s most recognizable brands, while an ongoing rift with Florida Gov. Ron DeSantis has thrust it into the cultural and political zeitgeist.
- In November 2022, the Burbank, Calif.–based company brought back Bob Iger as CEO, less than three years after he retired from a 15-year stint as the company’s chief executive. Iger replaced his own successor, Bob Chapek.
- Disney recorded a strong 2022 fiscal year: Revenue rose 23% to $82.72 billion. Its parks and experiences flourished after a slump induced by COVID-19-related closures. Its streaming services garnered 235 million subscriptions in total compared to 179 million the previous fiscal year, although financial losses at Disney+ remained high.
- The company introduced an ad-supported version of Disney+ in the U.S. in December 2022, which it plans to roll out internationally in late 2023.
- In 2022 and 2023, Disney sparred with Florida Gov. Ron DeSantis over control of its self-governing district near Orlando. DeSantis had taken steps to take away that control after Disney management criticized the state’s so-called Don’t Say Gay law.
- In early 2023, Disney fended off activist investor Nelson Peltz after announcing an aggressive reorganization effort that includes cutting costs by $5.5 billion and slashing 7,000 jobs.
Allie Goulding—Tampa Bay Times/TNS/ABACA/Getty Images
As of 6/5/23
Robert A. Iger
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Figures are for fiscal year ended Sept. 30, 2022. Market value as of March 31, 2023.
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