Disney Takes Another Financial Hit as Cruise Line Loses $325.8 Million
By Movieguide® Contributor
Disney’s cruise line had one of the worst years in its 26-year history, reporting a $325.8 million loss for 2022.
While Disney Cruise Line’s overall revenue increased in 2022, the high demand increased costs. And, over the last few years, Disney has lost millions on their cruise line, reporting a net loss of $255.9 million in 2020 and $629.5 million in 2021.
Forbes reported that the cruise line has lost a total of $1.2 billion since the beginning of the pandemic.
Despite these major financial losses, the cruise line’s directors received pay bumps. Their combined salaries come to $2.2 million, with the highest-paid director taking home $1.4 million.
Efforts to increase profits include the addition of three more ships to their collection, new Disney Magic at Sea cruises to Australia and New Zealand and a new Disney “island” on Eleuthera in the Bahamas.
However, Disney’s cruise line’s major financial losses reflect a trend for the entertainment company.
Movieguide® previously reported on Disney’s plummeting stock:
Disney’s struggles have started to catch up with the business as the stock price approaches its 52-week low. On Monday, the stock closed at a price of $85.56, barely above its low closing of $84.17 on Dec. 28th. If the stock were to drop two more dollars and dip below $83.83, it would be the company’s lowest closing since 2014.
Investors have been seriously questioning Disney over the past year as the company has struggled in nearly every aspect of its business.
The movie-making leg of the company has fared no better, losing an estimated $900 million from its last eight studio releases. The box-office failures are largely due to the immoral themes that these movies have promoted.
To make matters worse, Disney’s theme parks have seen their lowest attendance numbers in years. Despite multiple lucrative deals, the theme park prices have proven to be too high for families – even at the height of vacation season.
Yahoo! reported a decline in theme park attendance this summer, adding, “Disney’s management team had already lowered its parks earnings forecast in a recent quarterly report. Now the parks are also offering discounts for Christmas—which means they could expect the attendance slump to drag into another one of its typically busiest seasons.”
One of the reasons many have decided against traveling to Disney’s theme parks is their displeasure with the company’s most recent projects, as Movieguide® previously reported:
In its first 100 years, Disney built its brand as being the most family-friendly movie studio and entertainment company in the world.
However, in the last five years, Disney seems to have forgotten their own brand. Due to pressure from lobbying groups in Hollywood, much of the newer movies have embraced anti-family agendas. Unfortunately, this includes a significant amount of anti-biblical themes. While Disney is trying to promote the narrative that this is the norm, a Gallup poll revealed that 55% of Americans think it is morally wrong to change your gender.
Disney’s blatant flaunting of anti-biblical values is causing them to lose customers at the box office. As Movieguide® previously reported, the company lost $900 million on its last eight releases.
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