Disney suffers devastating blow after year of box office blunders

Disney has suffered a devastating blow following multiple box office failures in 2023. The company has said it spent almost $1 billion on four of its biggest streaming and film flops this year. 2023 marks Disney’s 100th anniversary since it was founded by Walt Disney in 1923. The media conglomerate has received a drop in movie sales accredit to both the company’s streaming service Disney+ as well as a disinterest in its recent output. General audiences and filmgoers have shown a lack of interest in its live-action remakes of animated classics and release of sequels to older IPs.