Internationally recognised art and literary critic, writer and cultural producer. Published in ELLE, Glamour, Esquire and Cosmopolitan; member of the Union of Writers.
Disney, the world’s most iconic entertainment company, celebrated its 100th anniversary in 2023. But instead of a triumphant year of festivities and accolades, it was a dismal year of flops and failures. The studio that once enchanted generations of audiences with its timeless stories and characters, now struggled to keep up with the changing times and tastes of the 21st century. What went wrong for the Mouse House, and can it recover its lost magic?
Disney was founded by Walt and Roy Disney in 1923, as a small animation studio that produced short cartoons featuring Mickey Mouse and other lovable characters. Over the decades, it expanded into feature films, television, theme parks, merchandise, and more, becoming a global powerhouse of media and entertainment. It also acquired some of the most lucrative franchises in the industry, such as Pixar, Marvel, Star Wars, and Fox, giving it an unparalleled portfolio of brands and properties.
In 2019, Disney reached the peak of its success, dominating the global box office with seven out of the 10 highest-grossing films of the year, all of them based on its popular brands. Avengers: Endgame, the culmination of the Marvel Cinematic Universe, became the highest-grossing film of all time, earning $2.8 billion worldwide. The Lion King, a photorealistic remake of the 1994 animated classic, earned $1.7 billion, becoming the highest-grossing animated film ever. Star Wars: The Rise of Skywalker, the final chapter of the Skywalker saga, earned $1.1 billion, despite mixed reviews from critics and fans. Frozen 2, Toy Story 4, Captain Marvel, and Aladdin, all sequels or remakes of previous hits, also crossed the billion-dollar mark, cementing Disney’s dominance and reputation as the ultimate hit-maker.
But in 2023, the tables turned, and Disney’s fortunes plummeted. None of its films made it to the top three of the global box office, and most of them underperformed or outright flopped. Wish, a cartoon that was made specifically to commemorate a century of Disney animation, was a critical and commercial disaster, earning only $200 million worldwide, less than a tenth of Frozen 2’s haul. The Marvels, a sequel to Captain Marvel, was the lowest-grossing release ever to come from Marvel Studios, earning only $400 million, less than a fifth of Avengers: Endgame’s haul. Indiana Jones and the Dial of Destiny, the fifth installment of the beloved adventure franchise, made only $500 million, half of what Indiana Jones and the Kingdom of the Crystal Skull did in 2008. The Haunted Mansion, a live-action adaptation of the popular theme park attraction, was a bona fide flop, earning only $100 million, less than a quarter of what Pirates of the Caribbean: The Curse of the Black Pearl did in 2003.
The only hits that Disney had in 2023 were Guardians of the Galaxy Vol 3, which earned $1.2 billion, and The Little Mermaid, a live-action remake of the 1989 animated classic, which earned $1 billion. But they were overshadowed by the unexpected successes of rival studios, such as Barbie, a musical comedy starring Margot Robbie, which earned $1.5 billion and became the highest-grossing film of the year. The Super Mario Bros Movie, a CGI-animated adaptation of the popular video game franchise, which earned $1.4 billion and became the second highest-grossing film of the year. And Oppenheimer, a biographical drama about the father of the atomic bomb, starring Cillian Murphy, which earned $1.3 billion and became the third highest-grossing film of the year.
How did Disney go from being the king of the box office to being the laughing stock of the industry? The answer lies in its lack of creativity and originality, as well as its failure to adapt to the changing tastes and expectations of the audience. Disney’s films in 2023 were mostly formulaic, predictable and bland, relying too much on its established franchises and remakes, without offering anything new or exciting. They also failed to reflect the diversity and complexity of the world today, featuring mostly white, straight, and male protagonists, while ignoring or marginalizing women, people of color, LGBTQ+ people, and other underrepresented groups. In contrast, the films that succeeded in 2023 were more diverse, edgy and innovative, featuring stories and characters that resonated with the audience, who were looking for something different and daring.
Disney’s centenary crisis is a wake-up call for the studio, which needs to reinvent itself and rediscover its magic, or risk becoming irrelevant and obsolete in the 21st century. It needs to embrace originality and diversity, and create films that are not only entertaining, but also meaningful and inspiring. It needs to listen to its audience, and understand what they want and need, instead of imposing what it thinks they want and need. It needs to remember what made it great in the first place: its ability to tell stories that touch the hearts and minds of people of all ages, backgrounds, and cultures. Disney has the potential to be great again, but it has to work hard to earn back the trust and love of the audience, who have grown tired of its stale and safe offerings. Disney has to find its magic again, before it’s too late.
