The Walt Disney Company (TWDC) is one of the most iconic and influential media conglomerates in the world, with a legacy of creativity, technology, and entertainment that spans 100 years. From its humble beginnings as a small animation studio in 1923, TWDC has grown to encompass a wide range of businesses, including theme parks, cruise ships, movie studios, TV networks, streaming services, consumer products, and more. In this article, we will explore some of the highlights and challenges that TWDC faced in 2022, as well as some of the opportunities and expectations for 2023.

A Year of Change and Transition

One of the biggest news stories for TWDC in 2022 was the unexpected return of Bob Iger as the CEO of the company, replacing Bob Chapek who had assumed the role in February 2020. Iger announced his decision in a company-wide email in November 2022, citing his desire to “position this company for a new era of growth” and to “bring joy to people through great storytelling”. Iger will serve as the CEO for two years, while he hand-selects and trains the next chief executive.

Iger’s comeback was welcomed by many Disney fans, who believed that he would restore the quality and innovation that had characterized his previous tenure as the CEO from 2005 to 2020. During that time, Iger oversaw some of the most successful acquisitions and expansions in TWDC’s history, such as Pixar, Marvel, Lucasfilm, 21st Century Fox, and Disney+. He also launched several new theme park attractions and lands, such as Pandora – The World of Avatar, Star Wars: Galaxy’s Edge, Toy Story Land, and Avengers Campus.

Chapek, on the other hand, had faced criticism from some fans and analysts for his perceived lack of vision and creativity, as well as his aggressive cost-cutting and price-increasing measures. Chapek had also faced some challenges due to the COVID-19 pandemic, which had severely impacted TWDC’s revenue and operations in 2020 and 2021. Chapek had implemented some controversial changes in response to the pandemic, such as introducing a new reservation system and a paid fastpass service for the theme parks.

A Year of Recovery and Growth

Despite the leadership shake-up and the ongoing effects of the pandemic, TWDC had a strong financial performance in 2022, with revenue increasing by 18% to $79.4 billion and net income increasing by 23% to $10.2 billion compared to 2021. TWDC also celebrated its 100th anniversary in October 2022 with various events and promotions across its businesses.

One of the main drivers of TWDC’s growth in 2022 was its streaming service Disney+, which reached over 200 million subscribers worldwide by the end of the year. Disney+ continued to offer exclusive content from its popular franchises, such as Marvel’s Loki, Star Wars’ The Book of Boba Fett, Pixar’s Luca and Turning Red, and Disney’s Encanto and Raya and the Last Dragon. Disney+ also launched some new original series and movies, such as The Creator (a sci-fi thriller directed by Gareth Edwards), The Golden Bachelor (a romantic comedy starring Ryan Reynolds), Once Upon a Studio (a behind-the-scenes look at Disney Animation), and Found (a documentary series about missing people).

Another key contributor to TWDC’s growth in 2022 was its theme park division, which saw a gradual recovery from the pandemic-induced slump in 2020 and 2021. TWDC reopened all of its theme parks worldwide by mid-2022, with enhanced health and safety measures and reduced capacity limits. TWDC also opened some new attractions and lands at its theme parks in 2022, such as Remy’s Ratatouille Adventure at Epcot, Guardians of the Galaxy: Cosmic Rewind at Epcot, Zootopia at Shanghai Disneyland, Frozen Land at Hong Kong Disneyland, Toy Story Land at Tokyo DisneySea, and Avengers Campus at Disneyland Paris.

TWDC’s movie studio division also had a solid year in 2022, with several box office hits and critical successes. Some of the notable movies released by TWDC in 2022 were Marvel’s Black Widow, Shang-Chi and the Legend of the Ten Rings, Eternals, Spider-Man: No Way Home (in collaboration with Sony), Doctor Strange in the Multiverse of Madness; Pixar’s Luca and Turning Red; Disney’s Encanto and Raya and the Last Dragon; Lucasfilm’s Indiana Jones 5; Fox’s Avatar 2; Searchlight’s The French Dispatch; and Hulu’s Palm Springs.

A Year of Challenges and Opportunities

Looking ahead to 2023, TWDC faces some challenges and opportunities in the rapidly changing media and entertainment landscape. One of the main challenges for TWDC is the increasing competition from other streaming services, such as Netflix, Amazon Prime Video, HBO Max, Peacock, Paramount+, and Apple TV+. TWDC will need to continue to invest in creating and acquiring high-quality content for its streaming platforms, as well as expanding its global reach and improving its user experience.

Another challenge for TWDC is the uncertainty and volatility of the movie theater industry, which has been disrupted by the pandemic and the rise of streaming. TWDC will need to balance its theatrical and streaming release strategies, as well as adapt to the changing consumer preferences and behaviors. TWDC will also need to deal with the legal and regulatory issues that may arise from its distribution decisions, such as the lawsuit filed by Scarlett Johansson over the simultaneous release of Black Widow on Disney+ and in theaters.

One of the main opportunities for TWDC in 2023 is the continued recovery and growth of its theme park division, which is expected to benefit from the pent-up demand and the easing of travel restrictions. TWDC will also be able to leverage its strong brand recognition and loyal fan base to attract more visitors to its theme parks. TWDC will also be able to introduce more new attractions and lands at its theme parks in 2023, such as Tiana’s Bayou Adventure (a reimagining of Splash Mountain based on The Princess and the Frog), Tron Lightcycle Run (a roller coaster based on Tron), Journey of Water (a water attraction inspired by Moana), and Star Wars: Galactic Starcruiser (a immersive hotel experience based on Star Wars).

Another opportunity for TWDC in 2023 is the celebration of its 100th anniversary, which will provide a unique chance to showcase its rich history and legacy, as well as to promote its current and future offerings. TWDC will be able to use its anniversary as a marketing tool and a storytelling device, as well as a way to connect with its fans and customers. TWDC will also be able to launch some special products and events for its anniversary, such as a commemorative book, a documentary series, a musical tribute, a global concert, a fireworks spectacular, and a time capsule.

Conclusion

The Walt Disney Company is a remarkable example of a company that has been able to adapt and innovate over the course of a century, while staying true to its core values and vision. TWDC has faced many challenges and changes in 2022, but it has also achieved many successes and milestones. TWDC has many opportunities and expectations for 2023, but it also has some risks and uncertainties. TWDC will need to continue to leverage its strengths and address its weaknesses, as well as to anticipate and respond to the needs and wants of its customers and stakeholders. TWDC will also need to honor its past and present, while preparing for its future. As Bob Iger said in his email to the employees: “This marks the final year of The Walt Disney Company’s first century, and performance like this coupled with our unmatched collection of assets and platforms, creative capabilities, and unique place in the culture give me great confidence we will continue to define entertainment for the next 100 years.”