I would say that this is a failure if one only looks at the parks and resorts side of the company. Wall Street isn't too concerned when The Mouse generated 45 billion last year.
To me it reinforces what I've suspected and stated here once or twice (and got ripped for it as well) is that Disney isn't really interested in parks much more. Sure they will continue to invest in them, but as little as they possibly can.
Iger and company want to own and manage content, and I'm sure they're looking at other IPs that they can bring into the Disney fold. It wouldn't surprise me if part of the reason for his contract extension is because there's ongoing discussions with another big IP that they are trying to acquire.
Fully agree...
Not only is wdw in the "post expansion" phase...
All Disney parks are being focused on as "profit maximization" and moves are only for that goal.
They will continue to operate and praise themselves in the parks only to the point where that money expands...
If it levels, contracts, or travel changes altogether -which will come someday - then all park and resort operations are then leased to a third party operator
Ultimately...I think they want an OLC type arrangement where they basically collect fees and provide creative and technical support at a price.
That is what they want in china...and wanted in euro - which is failing disasterously at this very minute.
Wdw in particular has not been reinvested in for quite some time.
Defenders scratch their heads and say "how can that be...with all they've built?!?"
But they really haven't when you look at the whole history of wdw and DL in particular. The real indicator is the mothballing and closures, and lack of annual or minimum biannual additions to the themeparks.
That is a fundamental shift in priorities and operations...a harbinger of things to come... A reduction in quality, value, and brand strength...and a much bigger deal than is credited by Disney customers.
The ball is already rolling down hill.