Today, The Wrap has a story about Walt Disney Company insiders saying they aren’t panicking about the impact of the tariffs yet. This story would appear to contradict the other recent article from the publication about Disney CEO Bob Iger showing up unannounced at an ABC News editorial meeting to share his worries about the impact the tariffs could have on the company.
According to The Wrap, Disney insiders claim not to be worried, yet,
One insider told the publication, “it was still too early to conclude that the tariff dispute would result in a significant hit to Disney.” They felt that while there is some risk it was not significant enough to pose “insurmountable’ issues.
Another source said, “We’re not panicking. We are waiting and seeing.”
It’s an interesting stance given the potential impact on Disney.
The Walt Disney Company has a slew of theatrical releases going to China. Disney also has Chinese theme parks, and much of their merchandise is made in China. I find it hard to believe that the company is this calm, unless the box office take is so low that they don’t feel a boycott of US films will result in much harm.
Disney co-owns the two Chinese parks, but China owns the bigger share. Disney owns only 48% of the Hong Kong park, and even less (43%) of Shanghai.
Both parks are revenue drivers with Hong Kong, generating $1.1 billion in revenues in 2024.
Bob Iger seemed to be very concerned last week.
This report from The Wrap seemingly contradicts another article also seen on The Wrap, indicating that Bob Iger was indeed concerned.
According to The Wrap, Bob Iger attended an ABC News closed-door editorial meeting. During the meeting, he allegedly kept interjecting his thoughts on the tariffs and the potential to harm Disney Cruise Line’s’ ship construction, indicating that if costs got too high, they may have to scale back.
“…staffers described Iger as continuously jumping into the conversation to share his thoughts and offer more of what Darcy said were “unfiltered views.” He expressed concern for Disney’s cruise line — particularly two new ships that rely on steel for their construction and how the company may have to scale back spending if costs rise too high.”
The sources also called Iger’s views “unfiltered“ and said he insisted “most people don’t understand how tariffs work,” and how he was seemingly there to “… push for ABC News to connect the dots for readers and viewers.”
These are two opposing stories.
Either Disney isn’t worried or they are. Bob Iger seems to be concerned enough to haul butt down to the news arm of the company and attempt to sway the team to educate people on tariffs. Yet other “insiders” say the company is not worried.
Which one is it?
Frankly, I can’t see how they are not worried given the Walt Disney Company’s dependence on China, but if they are not very concerned, it might mean they know something we don’t. Perhaps the situation will be resolved soon?
What do you think? Comment and let us know!
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