Although Chapek’s demise has many Disney fans convinced of a return to glory at the theme parks, that’s far from a guarantee.
But although Chapek’s demise has many Disney fans convinced of a return to glory at the theme parks, that’s far from a guarantee.
Chapek wasn’t canned because of ride stoppages, Genie Plus or really anything else at the Disney Parks. He was ousted primarily because he lost his bet on streaming.in 2020, Chapek went full speed ahead with the company’s digital assets. It’s been a millstone around the company’s neck ever since. Disney’s streaming platforms, which include Disney Plus, Hulu and ESPN, lost $1.5 billion last quarter. Billion. With a"B.
From the perspective of the company, the Disney Parks, Experiences and Products division is its most successful right now. They’re making more money per guest than, largely thanks to add-ons like Genie Plus. In the most recent earnings call, the company disclosed the division made $7.4 billion in revenue last quarter; that’s up from $5.5 billion over the same period last year.
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