Walt Disney stock needs a boost, and the film announcements made at the company's D23 event over the weekend could help do just that.
D23 is a biennial convention at which Disney makes announcements about upcoming films, television shows, and theme park updates. (The D refers to Disney, of course, while 23 is short for 1923, when Walt founded his company.) It's an important event that fans and investors alike pay close attention to as they look for what the entertainment giant has in store for the years ahead.
And the pressure is on for Disney to deliver. Shares have risen only 8% over the past 10 years, compared to the 256% gain of the S&P 500 index. Disney stock is now trading at 14.2 times earnings expected over the next 12 months, below its five-year average of 20.5 times forward earnings. A box-office traffic slowdown, cable cord cutting, and concerns about consumer spending on parks have weighed on investor sentiment for the House of Mouse.
New CEO Josh D'Amaro replaced Bob Iger in March, and in May he published a 3,000 word letter to shareholders that outlined his plan to turn around the business. It includes investing in existing and already successful intellectual property while also "taking creative risks" to build new franchises. This weekend's D23 event gave D'Amaro an opportunity to detail his vision for doing just that.
The D23 event took place from Aug. 14 to Aug. 16 and showcased a variety of updates about both new movies and highly anticipated upcoming releases of franchise sequels. This included an introduction of a brand new animated film called Clay and an announcement that there will be a third installment to the successful Zootopia franchise. First looks given at the event included a sneak peak into the live-action film Tangled, the release of a teaser trailer for The Bluey Movie, and an early glimpse at Frozen 3.
It's important that Disney shareholders see a box-office boost. According to data from foot traffic research firm Placer.Ai, fewer people are going to the movies now than before the Covid-19 pandemic closed theaters in 2020. As of July this year, U.S. movie theater visits are up 8.1% compared with 2025, but down 27% compared to 2019 levels.
The newly announced releases meet the criteria of either new franchises or strong existing IP that D'Amaro referred to in his shareholder letter, so they could be enough to get fans and investors excited.
The media giant has released some major film hits in the last few years. Inside Out 2 led the domestic box office in 2023, with total sales of $653 million, according to Box Office Mojo. In 2025, Lilo & Stitch and Zootopia 2 brought in $424 million and $338 million, respectively. Disney's latest theatrical release-Spider-Man: Brand New Day-is already leading the 2026 box office, with sales hitting $785.8 million.
But that doesn't mean there haven't been big misses. The live-action movie Moana brought in only $124.5 million in the domestic box office this year, while last year's live-action Snow White made $87.2 million.
Disney stock is down 8.2% this year and 10% over the past 12 months. While film performance is just one piece of the overall Disney puzzle, the company is due for a box-office rebound. The D23 announcements could be a sign that Disney, and its new leadership, are positioned to get there.