At this year’s D23, Disney’s “ultimate fan event” held near Disneyland every two years, the company that leads Hollywood in creating world-class entertainment from beloved characters and time-tested stories wasn’t on its usual solid footing.
While the presentations featuring Disney luminaries from Pixar’s Pete Docter to Avatar’s James Cameron were impressive, there was also a keen sensation of déjà-vu. It was like eating at the Cheesecake Factory – there’s a giant, phonebook-sized menu, but everything still ends up tasting the same.
D23 was chock-full of announcements that signaled a doubling down on tested IP (intellectual property). At the convention, everything old was new again… and again… and again.
The presentation suggested that Disney is clearly on the back foot and retreating to what it knows best. This year, “Inside Out 2” broke what some considered a slump for Pixar, earning $1.59 billion; so did “Deadpool & Wolverine” for Marvel Studios, crossing the $1 billion mark after three weekends – both films relying on familiar characters and themes. Disney seems to have concluded that now is not the time to take wild swings, especially with the stock value in such a precipitous place, declining more than 25% since early April. It currently stands at $85.60. In March 2021, the stock price was $201.91.
Three marquee events were held just miles away from the Anaheim Convention Center, where every previous D23 took place, and their mood could comfortably be described as a jovial celebration of almost every corner of the Walt Disney Company empire.
The razzle and the dazzle
D23 opened with a performance of a song from “Moana 2” and an appearance by Dwayne “The Rock” Johnson. The first “Moana” grossed $687 million worldwide in 2016 and has flourished on Disney+, with the sequel’s trailer becoming the most-watched trailer in Disney Animation and Pixar history.
The rest of the night was a flurry of sequels, remakes and universe-expanders designed to come in the wake of 2023 misfires like Disney animation’s “Wish” (it grossed $255 million worldwide), Marvel’s “The Marvels” ($206 million) and “Haunted Mansion” ($117 million).
James Cameron was on hand, flanked by Sam Worthington and Zoe Saldaña, to announce the name of the third “Avatar” movie (“Avatar: Fire and Ash”), hitting theaters three years after “Avatar: The Way of Water” grossed $2.3 billion.
This year’s D23 was a homecoming for CEO Bob Iger, who strode onto the stage to a standing ovation on Friday night at the Honda Center. At the last D23 in 2022, Bob Chapek was CEO and presided over a charmless expo. A few months later, Chapek was fired and Iger returned to the company, which he first led from 2005 to 2020.
This year, Iger seemed genuinely overwhelmed by the response from the crowd, made up of 12,000 Disney fans from around the world.
“I was going to say good evening and thank you for that warm welcome but that was more than a warm welcome,” Iger said, looking out over a sea of twinkling stars – electronic wristbands handed out to guests.
A keen sensation of déjà-vu
The actual Disney Entertainment Showcase was a marathon. The original two-hour running time was eclipsed by more than an hour, as Pixar, Walt Disney Animation Studios, Disney live-action, Marvel Studios, Lucasfilm and the team behind “Avatar” each presented what they had on the docket through 2027 and beyond. There was even an unexpected interlude from Disney Theatrical.
Pixar head Pete Docter introduced two of the only original projects of the night, an intergalactic adventure called “Elio,” and “Hoppers,” a movie about a young woman who beams her consciousness into a robotic beaver. But Docter ended the Pixar section of the presentation by revealing that the studio was in development on “Incredibles 3,” a sequel to a film that, until “Inside Out 2,” was the highest-grossing movie in Pixar history.
There was also “Win or Lose,” an original Pixar series for Disney+, and “Dream Productions,” a spin-off of “Inside Out” that will also premiere on Disney+.
Overall, Pixar had the greatest ratio of original projects to franchise obligations.
Walt Disney Animation Studios, led by Jennifer Lee, presented a scene from “Zootopia 2” (this time introducing reptiles) and a concept image from “Frozen III,” which doesn’t hit theaters until 2027 but is eagerly awaited by Disney. “Frozen 2” grossed $1.4 billion in 2019.
Lucasfilm presented the Amblin-indebted new series “Skeleton Crew,” the second season of “Andor” and the 2026 theatrical spin-off “The Mandalorian & Grogu,” which will mark the first new “Star Wars” movie since “The Rise of Skywalker” in 2019.
Marvel Studios, with Kevin Feige on hand, trotted out some new “Captain America: Brave New World” footage, alongside some proof of concept “Fantastic Four: First Steps” scenes and bits dedicated to “Black Panther” spin-off series “Ironheart” and “Daredevil: Born Again,” a revival (of sorts) of the original Netflix series. Both are coming to Disney+.
For Disney live-action, there were remakes of “Snow White,” “Lilo & Stitch” and “Mufasa: The Lion King,” along with “Tron: Ares,” the third “Tron” film since 1982. While 2023’s “The Little Mermaid” grossed $569 million, Disney no doubt hopes these new updates of beloved films will perform more like 2019’s “The Lion King” ($1.6 billion) and “Aladdin” ($1 billion) or 2017’s “Beauty and the Beast” ($1.2 billion).
Even the Disney Theatrical interlude announced that a recording of the short-lived “Frozen” Broadway show would be coming to Disney+, a new “Hercules” musical would be coming to Broadway, and a musical based on “The Greatest Showman” (now a Disney property thanks to the acquisition of the Fox assets) is also in development.
Riding high on summer hits
Disney is clearly riding high on the success of “Inside Out 2” — which Docter acknowledged is now the highest-grossing animated feature of all time — and “Deadpool & Wolverine,” the second and third films in their respective franchises whose success have almost guaranteed future installments.
In Anaheim, fans were treated to video from star Ryan Reynolds thanking them for their love. As the arena emptied out, NSYNC’s “Bye Bye Bye,” which plays during a pivotal “Deadpool & Wolverine” scene, blared over the loudspeakers.
The next night at the Honda Center was the Disney Experiences presentation, which included the output of the division that includes theme parks and cruise ships. And, in a presentation that was more theatrical than the previous night’s, Disney continued the IP-dependent streak. There were attractions based on “Avatar,” “Coco,” “The Lion King,” “Cars,” “Monsters, Inc.” and the Disney Villains.
The closest thing fans got to an original attraction was a show that will feature an audio-animatronic version of Walt Disney, which will take place at the Great Moments with Mr. Lincoln theater in Disneyland.
At one point the electro-funk duo Chromeo played a brief medley, before leaders of several divisions of the company, including Docter and Feige, introduced new skins that would be appearing in the popular video game “Fortnite.” (The parks panel was also being live streamed through the game — a gesture of synergy after Disney took a $1.5 billion stake in “Fortnite” maker Epic Games).
And four more ships will soon join the Disney Cruise Line, bringing the total to 13 and almost guaranteeing the future “WALL•E” laid out before us.
Once upon a time not all that long ago, the company opened an entire park, EPCOT Center, without a sliver of intellectual property. That was a park full of original attractions and brand-new characters, and now — in an era where the evolved streaming landscape has upended every studio’s business model — the same park is filled with a “Guardians of the Galaxy” rollercoaster and a water walkthrough themed to “Moana.”
Walt Disney knew the value of the beloved characters in his stable, but he was also creatively restless and oftentimes downright experimental. He understood that the only path forward was to provide audiences and theme park guests with things they had never experienced before. Mickey Mouse was used when he needed to drum up interest or funds, but his heart lay in riskier fare like “Fantasia” and EPCOT.
With big screen sequels as far as the eye can see, the company known for its rodent mascot comes dangerously close to being a snake that eats its own tail.
