Iger is back, Disney is broken, but somehow the entertainment company is suddenly feeling flush with China putting their movies back in the Beijing box offices.
At the same time that Disney seems to be in a real pickle, a lifeline is being tossed to the company by the Chinese Communist Party. Despite stagnant growth of the Disney+ streaming service in North America, despite the company cutting content and despite Quantumania looking to be a horrific failure for Marvel… Disney is now getting movies back into China. Feels a little strange doesn’t it? Feels a little odd after Disney was basically locked out of China for the entirety of Chapek’s run. Is it just us or is China feeling giddy about Iger and, perhaps, the new Chair of the Board who is also the leader of Nike?
Maybe it’s not just us. Now, even the trades are beginning to say what we’ve been saying for years.
On Nov. 20, Disney shocked Hollywood when it announced that Bob Iger would return as CEO after less than a year away. Two days later, Disney’s “Avatar: The Way of Water” landed a coveted China release. Then, the sci-fi film received a rare release extension in China that allowed it to run through Feb. 14, enabling it to gross more than $240 million in the country.
— Tatiana Siegel, Variety
Given that Iger was the driving force for a decade trying to get Shanghai Disney approved, and given that the property has largely tied Disney to the whims of the Chinese Communists, is it any surprise that China is boosting Disney while Disney is down?
Now the only real question is whether or not Iger and others were brought back to Disney to try to facilitate this friendship once more?
For all the latest news that should be fun, keep reading That Park Place. As always, drop a comment down below and let us know your thoughts.
