Disney has been a household name for decades, with a reputation for creating magical and memorable experiences for people of all ages. However, recent trends and a report on the BBC News website suggest that the company’s magic spell may be wearing off. While Disney’s theme parks continue to attract millions of visitors each year, their other divisions, such as television and film, have been struggling to keep up with the competition. In this blog post, I will explore some reasons why Disney’s magic spell is wearing off and how the company can improve using technology.
Firstly, one reason why Disney’s magic spell is wearing off is because of the rise of streaming services. In recent years, companies like Netflix and Amazon have entered the entertainment industry, offering viewers a wide range of content at a lower price point. This has made it difficult for traditional cable and broadcast networks to compete, including Disney’s own television networks such as ABC and Freeform. In order to remain competitive, Disney launched its own streaming service, Disney+, in 2019. However, while the service has been successful, it still lags behind its competitors in terms of original content and technological innovation.
Secondly, Disney has been criticized for its lack of diversity and representation in its content. While the company has made some efforts to address this issue, many viewers are still calling for more representation and inclusivity in their films and television shows. In order to stay relevant and appeal to a wider audience, Disney must take more decisive action to address these concerns.
So, how can Disney improve using technology? One way is by incorporating more immersive and interactive experiences into their theme parks. For example, Disney has already introduced the use of wearable technology, such as MagicBands, which allow visitors to access their hotel rooms, park tickets, and even purchase food and souvenirs with a simple tap of their wrist. Disney could take this technology further by incorporating augmented and virtual reality experiences into their parks, such as allowing visitors to interact with their favorite characters in new and exciting ways.
Another way Disney can improve using technology is by utilizing data and analytics to better understand their customers. I’ve spoken about data and analytics and how it could really improve companies fortunes before. But with Disney, by collecting and analyzing data on visitor behavior, Disney could tailor their experiences to better suit the needs and preferences of their guests. For example, they could use data to determine which rides are most popular, and then adjust wait times and other factors to optimize the visitor experience. They could also use data to personalize the visitor experience, such as by recommending specific rides, shows, or dining options based on the visitor’s preferences.
On top of that – if you’re not a Magic World or any of their theme park visitor – they could still use data to understand their customers more. Who’s watching what on Disney+, and if they’re not watching certain programmes or films, why not? – Then you could focus on those who don’t have a subscription – deep dive into why not. I remember when working for GSK – it was always Pharma companies against each other – because the patents on medicines mattered so much. But then there was a CEO who openly said, for some medicines it’s worth collaborating, even with competitors, just so we can help millions, quickly. What a forward way of thinking! Imagine Disney collaborating or connecting with another streaming service to bring more content, under one monthly subscription. Whilst some of these joint subscription services are around – wouldn’t it be better if the actual companies started doing it?
So there you go… while Disney’s magic spell may be wearing off in some areas, the company still has the potential to innovate and improve using technology. By incorporating more immersive experiences into their theme parks and utilizing data and analytics to better understand their customers, Disney can continue to create magical and memorable experiences for people of all ages. With the right strategy and investment in technology, Disney can remain a beloved brand for generations to come.