Disney has faced a series of problems with its theme parks and films, as well as its Disney+ streaming service that has exclusive rights to Disney movies and TV shows.
Axios reported that Disney has lost over $4 billion from its streaming service during Fiscal Year 2022.
Disney’s customers have reported widespread dissatisfaction over Disney’s rising prices and issues with park cleanliness and rides malfunctioning, contributing to its falling stock prices.
Disney’s stock has lost 41% of its value on the year, an alarming dip for investors who have repeatedly raised concerns about the company’s business model.
Disney’s senior executives have remained optimistic, saying that the company’s losses will decrease in the coming months and years and that they believe the company will start to grow again by 2024.
The DC Examiner Reports–
The Walt Disney Company saw the worst stock price loss since 2001 on Friday. The company has been struggling and suffering losses with its Disney+ streaming service and courted serious controversy and withering criticism from the Star Wars and Marvel fanbases for terrible creative decisions.
The corporate officers of Disney have assured their anxious investors that an upcoming price increase, amidst a recession and an inflationary crisis that is crushing entertainment budgets, and an ‘ad-tier’ that offers limited content with advertising will stop the financial bleeding according to Axios.
As reported by Breitbart however, this would not be the case. Disney’s stock would plunge a further 13 percent on Nov. 9, contributing to the overall loss of 44 percent year to date.
Todd Spangler of Variety tweeted that Disney lost about $24 billion in market cap that day.