Disney Headlines for June 18th, 2024
The Walt Disney Company just enjoyed one of its best weeks since before the pandemic.
Let’s talk about all three big wins in this week’s Disney Headlines.
Peace in Our Time
The most significant story of the week and arguably the biggest one of the year involves the end of the Florida Feud.
The New York Times’ Headline is apropos here. “Disney and DeSantis Reach Agreement, Ending Protracted Fight.”
![Desantis and Disney](https://mickeyblog.com/wp-content/uploads/2023/04/Florida-DeSantis-Disney.png)
![Desantis and Disney](https://mickeyblog.com/wp-content/uploads/2023/04/Florida-DeSantis-Disney.png)
Photo: Fox35Orlando.com
As the story indicates, “The deal locks in a 15-year expansion plan for Disney World and clears a path for Disney to restart in-kind political donations in Florida.”
That’s the twofold nature of this deal that I referenced a couple of weeks ago.
![Disney DeSantis Republicans](https://mickeyblog.com/wp-content/uploads/2023/03/2023-ap-photos-ron-desantis-disney-world.png)
![Disney DeSantis Republicans](https://mickeyblog.com/wp-content/uploads/2023/03/2023-ap-photos-ron-desantis-disney-world.png)
Photo: AP
You should view this agreement as transactional in nature, with Disney and the Central Florida Tourism Oversight District (CFTOD) cutting a deal.
Disney held most of the cards here because its lawyers win almost all the time.
![DeSantis president](https://mickeyblog.com/wp-content/uploads/2023/05/2023-ron-desantis-wall-street-journal.png)
![DeSantis president](https://mickeyblog.com/wp-content/uploads/2023/05/2023-ron-desantis-wall-street-journal.png)
Photo: The Wall Street Journal
Meanwhile, Florida’s Governor, Ron DeSantis, loses in federal court a startling amount.
With the Governor term-limited, he has decided it’s more politically expedient to deal with Disney.
![](https://mickeyblog.com/wp-content/uploads/2023/05/2023-ron-desantis-gbn-britains-news-channel.png)
![](https://mickeyblog.com/wp-content/uploads/2023/05/2023-ron-desantis-gbn-britains-news-channel.png)
Photo: GBN Britain’s News Channel
After all, every politician would love to have a fifth Disney theme park on their resume.
Not coincidentally, DeSantis has publicly lobbied for Disney to build a new theme park to compete with Universal Epic Universe.
![DeSantis president](https://mickeyblog.com/wp-content/uploads/2023/04/2023-WESH-ron-desantis.png)
![DeSantis president](https://mickeyblog.com/wp-content/uploads/2023/04/2023-WESH-ron-desantis.png)
Credit: WESH2
This agreement raises the odds of that eventuality, with the 15-year development plan specifically empowering Disney to build said park.
Of course, that’s a broader topic we’re unlikely to have confirmed/denied until the 2024 D23 Expo in August.
![fees, resort guests, resorts, parking, fee](https://mickeyblog.com/wp-content/uploads/2022/12/Disney-Money-Mickey-Head-Costs-Prices-Higher-Washington-Post-Credit.jpg)
![fees, resort guests, resorts, parking, fee](https://mickeyblog.com/wp-content/uploads/2022/12/Disney-Money-Mickey-Head-Costs-Prices-Higher-Washington-Post-Credit.jpg)
Photo: Washington Post
However, this deal raises the odds dramatically. At a minimum, Disney will spend $8 billion on park improvements over the next decade.
At an average of $800 million per year, that’s enough money for Disney to expand all four Walt Disney World theme parks.
There’s probably enough left over to build a couple of hotels as well.
What Happens Next?
![DeSantis IGer](https://mickeyblog.com/wp-content/uploads/2023/05/2023-getty-images-bob-iger-ron-desantis.png)
![DeSantis IGer](https://mickeyblog.com/wp-content/uploads/2023/05/2023-getty-images-bob-iger-ron-desantis.png)
Photo: Getty Images
So, this détente between Disney and the Florida government should cause a sigh of relief for Disney fans.
The war is over, and peacetime construction is ready to begin. Also, I have touched on the bigger number yet.
![save money disney fees , fee, money, parking, resort, hotel, guests](https://mickeyblog.com/wp-content/uploads/2022/05/Screen-Shot-2022-05-18-at-6.25.45-PM-e1708448899139.png)
![save money disney fees , fee, money, parking, resort, hotel, guests](https://mickeyblog.com/wp-content/uploads/2022/05/Screen-Shot-2022-05-18-at-6.25.45-PM-e1708448899139.png)
Photo: skillastics.com
This development plan calls for Disney to spend up to $15 billion on Walt Disney World.
At least one analyst I trust has estimated that a fifth Disney theme park would cost $8-$9 billion to build.
![Shanghai Disneyland Castle](https://mickeyblog.com/wp-content/uploads/2023/10/Shanghai-Disneyland-Castle.png)
![Shanghai Disneyland Castle](https://mickeyblog.com/wp-content/uploads/2023/10/Shanghai-Disneyland-Castle.png)
Photo: Disney
The most recent comparison would be Shanghai Disneyland, which opened in 2016.
Park officials spent $5.5-$6 billion to build China’s most advanced, impressive theme park.
![spending](https://mickeyblog.com/wp-content/uploads/2021/07/Shanghai_Disneyland_Shanghai_Disney_Resort_-_2021-07-09_11.03.58.png)
![spending](https://mickeyblog.com/wp-content/uploads/2021/07/Shanghai_Disneyland_Shanghai_Disney_Resort_-_2021-07-09_11.03.58.png)
Photo: Shanghai Disneyland
Once we factor in eight years of inflation, that $8-$9 billion estimate strikes me as fair.
The question becomes whether Disney would prefer to build a single new theme park or continue its recent modular approach.
During the 21st century, management has committed to improving each Disney theme park gradually over time.
We can track a cycle that starts with the Radiator Springs expansion at Disney California Adventure in 2012.
Simultaneously, Disney worked on New Fantasyland at Magic Kingdom.
Afterward, Disney’s Hollywood Studios and Disneyland Park added Star Wars: Galaxy’s Edge in 2019, and the former park introduced Toy Story Land, too.
More recently, EPCOT completed its multi-year transformation as of, well, last week.
Now, park officials are discussing changes coming to Disney’s Animal Kingdom and Magic Kingdom.
So, all six American Disney parks have received a makeover since 2012. And Magic Kingdom technically already got a Tomorrowland facelift.
Overall, the timeline seems ideal for a fifth gate, but Disney hasn’t followed that strategy since the opening of Animal Kingdom 26 years ago.
The Summer of Disney
Not that long ago, images like this defined the relationship between theater owners and Disney.
![](https://mickeyblog.com/wp-content/uploads/2021/06/Turning_Red_Promo-1024x576.jpeg)
![](https://mickeyblog.com/wp-content/uploads/2021/06/Turning_Red_Promo-1024x576.jpeg)
Source: pixar.fandom.com
During the pandemic, Disney pivoted to releasing many of its titles on streaming.
In some instances, like Mulan and Turning Red, they were exclusive releases.
![](https://mickeyblog.com/wp-content/uploads/2023/05/2023-disney-pixar-turning-red-1024x553.jpeg)
![](https://mickeyblog.com/wp-content/uploads/2023/05/2023-disney-pixar-turning-red-1024x553.jpeg)
Photo: Pixar
Others, like Encanto, debuted in theaters first, but they were available on Disney+ within a month.
In the process, Disney shortened its release window, negating the need for some fans to watch movies in theaters.
![Bob Iger Knight](https://mickeyblog.com/wp-content/uploads/2024/06/Screenshot-2024-06-04-at-18-41-45-Disney-CEO-Bob-Iger-Becomes-Honorary-Knight-in-Ceremony-Led-by-Prince-William-e1717546482853.png)
![Bob Iger Knight](https://mickeyblog.com/wp-content/uploads/2024/06/Screenshot-2024-06-04-at-18-41-45-Disney-CEO-Bob-Iger-Becomes-Honorary-Knight-in-Ceremony-Led-by-Prince-William-e1717546482853.png)
Photo: Willow Bay on Instagram (via PEOPLE)
Lately, Disney has taken a different approach, one that’s primarily driven by financial motivations.
CEO Bob Iger believes that Disney must rebuild its multifaceted release schedule by reinforcing the theatrical window.
![The main poster for Inside Out 2](https://mickeyblog.com/wp-content/uploads/2024/06/insideout2poster.jpeg)
![The main poster for Inside Out 2](https://mickeyblog.com/wp-content/uploads/2024/06/insideout2poster.jpeg)
Image: Pixar
As an example, Inside Out 2 will remain exclusively in theaters for 100 days, more than twice the industry average.
In other words, you won’t be able to watch the movie on Disney+ until late September.
![Joy and Anxiety's fragile relationship summarized in one image in Inside Out 2.](https://mickeyblog.com/wp-content/uploads/2024/06/insideout2joymeetsanxiety-scaled.jpeg)
![Joy and Anxiety's fragile relationship summarized in one image in Inside Out 2.](https://mickeyblog.com/wp-content/uploads/2024/06/insideout2joymeetsanxiety-scaled.jpeg)
Image: Pixar
Many fans haven’t realized that yet, but it’s an essential part of Disney’s plan.
Iger hopes to entice people to give Inside Out 2 a chance in theaters due to its glowing buzz.
![Riley is officially a teenager in Inside Out 2.](https://mickeyblog.com/wp-content/uploads/2024/06/insideout2birthday.jpg)
![Riley is officially a teenager in Inside Out 2.](https://mickeyblog.com/wp-content/uploads/2024/06/insideout2birthday.jpg)
Image: Pixar
Disney doesn’t profit as much after a film has been in theaters for a couple of weeks.
The company is doing this to prop up theater exhibition, which is frankly a disaster right now.
![Box Office](https://mickeyblog.com/wp-content/uploads/2024/01/gettyimages-160510203-640x640-1.jpg)
![Box Office](https://mickeyblog.com/wp-content/uploads/2024/01/gettyimages-160510203-640x640-1.jpg)
Getty
Here’s a story on Regal’s owner trying to sell some theaters, while you may have heard that Sony just bought Alama Drafthouse.
Disney needs these businesses to remain open to increase its overall profits.
Inside Out 2 Dominates
![Embarrassment takes the wheel in Inside Out 2.](https://mickeyblog.com/wp-content/uploads/2024/06/insideout2embarrassment-1024x428.jpeg)
![Embarrassment takes the wheel in Inside Out 2.](https://mickeyblog.com/wp-content/uploads/2024/06/insideout2embarrassment-1024x428.jpeg)
Image: Pixar
This past weekend represented the kind of start the company needed in rebuilding its reputation.
Inside Out 2 absolutely obliterated its realistic box office expectations, which started in the $70-$75 million range.
![Anxiety really wants to push that button in Inside Out 2.](https://mickeyblog.com/wp-content/uploads/2024/06/insideout2dontpushthat.jpg)
![Anxiety really wants to push that button in Inside Out 2.](https://mickeyblog.com/wp-content/uploads/2024/06/insideout2dontpushthat.jpg)
Image: Pixar
By the time the weekend had ended, the film had earned $155 million, more than Elemental earned during its entire domestic run.
That’s the first time in recent memory that a Disney film has exceeded opening weekend expectations.
![Deadpool & Wolverine](https://mickeyblog.com/wp-content/uploads/2024/06/Deadpool__Wolverine_poster.jpg)
![Deadpool & Wolverine](https://mickeyblog.com/wp-content/uploads/2024/06/Deadpool__Wolverine_poster.jpg)
IMDB
Now, reports suggest that Deadpool & Wolverine, an R-rated movie, could open north of $200 million.
Later this year, Disney will release Moana 2 and Mufasa: The Lion King.
![Moana 2](https://mickeyblog.com/wp-content/uploads/2024/05/Screenshot-2024-05-29-at-07-28-29-Moana-2-Teaser-Trailer-1024x512.png)
![Moana 2](https://mickeyblog.com/wp-content/uploads/2024/05/Screenshot-2024-05-29-at-07-28-29-Moana-2-Teaser-Trailer-1024x512.png)
Photo: Disney
So, the debacle of the 2023 film campaign appears to be behind us.
After frustrating years from 2020-2023, 2024 is shaping up to be more like 2019 for Disney, and that’s what all its fans want to hear.
![Inside Out 2 Trailer New Emotions](https://mickeyblog.com/wp-content/uploads/2024/03/Inside-Out-2-Trailer-New-Emotions-8.jpg)
![Inside Out 2 Trailer New Emotions](https://mickeyblog.com/wp-content/uploads/2024/03/Inside-Out-2-Trailer-New-Emotions-8.jpg)
Photo: Disney
This was legitimately Disney’s best week overall in ages.
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Feature Photo: Disney