Rethinking D23: What Disney+'s "Comprehensive Membership" Should Look Like
Disney released its fiscal third-quarter earnings today, and while earnings calls held just days before D23 are often relatively light on major announcements, this one contained a surprising amount of interesting news. Executives provided updated timelines for future Disney Cruise Line launches, discussed the possibility of introducing a free tier of Disney+, and shared additional details about the company's long-term direct-to-consumer strategy. Yet among everything that was announced, one revelation stood out above the rest because it has the potential to fundamentally reshape how Disney engages with its fans.
Disney revealed its intention for Disney+ to become the gateway to the entire Walt Disney Company. Beginning next spring, the service will start evolving into a broader membership platform that extends well beyond streaming. According to Josh, that membership will eventually include video, merchandise, gaming, and other benefits that connect subscribers to multiple parts of Disney. It is an ambitious vision and one that makes perfect sense. If Disney truly wants consumers to think of Disney+ as more than just another streaming service, it needs to become the central hub for every Disney experience.
Like many longtime Disney fans, I already subscribe to Disney+, belong to D23, maintain a Magic Key or Annual Pass whenever possible, and participate in various other Disney loyalty programs depending on which part of the company I'm engaging with. While each program serves a purpose, they often feel disconnected from one another. At a time when Disney continues to emphasize efficiency, cost savings, and operating as One Disney, perhaps it is time to simplify these offerings into a single, cohesive fan ecosystem.
My first recommendation would be a bold one: eliminate D23 as a standalone membership program.
That does not mean eliminating D23 itself. Far from it. D23 has become one of Disney's strongest fan-facing brands, and events like D23: The Ultimate Disney Fan Event have demonstrated just how valuable that name has become. Instead, Disney should rethink what D23 actually is. Rather than functioning as a separate membership organization, D23 should become the company's fan engagement arm within the broader Disney+ membership platform.
In many ways, Disney has already started down this path. Disney+ subscribers can now receive D23 Gold Membership through the perks program, suggesting the company already recognizes the overlap between the two audiences. Instead of maintaining separate memberships that often duplicate one another, Disney should fully embrace the idea of Disney+ serving as the front door for every Disney fan. D23 could continue producing incredible events, exclusive content, fan experiences, and collectibles, but without requiring fans to think of it as yet another separate subscription.
More importantly, the people leading those efforts should be those who genuinely understand Disney fandom. It has become increasingly clear that there are leaders throughout the company who instinctively understand what makes Disney special and others who simply view it as another entertainment company. That distinction matters because Disney's greatest strength has never been its intellectual property alone. It is the emotional connection generations of fans have formed with that intellectual property.
Disney Experiences has increasingly demonstrated that it understands this relationship. Recent projects like Disneyland Handcrafted, the company's renewed investment in classic attractions at Walt Disney World, and its willingness to celebrate Disney history all reflect a leadership team that appreciates nostalgia without becoming trapped by it. They have shown that respecting the past and building for the future are not competing goals, but complementary ones.
Other divisions have not always been as successful. The film studios, for example, have occasionally made decisions that seem driven more by franchise strategy than by a genuine understanding of why audiences connected with those stories in the first place. The decision to produce a live-action Moana remains a good example. Financially, it may prove successful, but creatively it raises questions about whether every beloved animated film needs to be revisited so quickly. They delivered a movie no one asked for in a way that no one offered.
The contrast has also been evident during recent D23 presentations. The Disney Experiences showcases have consistently felt like celebrations shared with the fan community, filled with passion, surprises, and an appreciation for Disney history. By comparison, the Entertainment presentation relied on celebrities and trailers instead of leaning into Disney’s storytelling and legacy. Another way to frame the difference is this quarter’s results. Disney Experiences succeeded while its competitors stumbled by focusing on passholders and refreshing beloved experiences. Meanwhile, the studios had two misses with films that didn’t deliver on fan expectations or desires. If I am being honest, my concern about Disney Consumer Products moving under the studios stems from taking a great group of people who get Disney and moving them to a division that struggles with fan engagement.
To give credit where credit is due, the team at Disney Kids & Family understands fandom, which is distinct from the more general Disney fandom. The way they have been able to engage fans of their franchises through great content, social media, and fan engagement has been impressive and shows how television is often a gateway to broader Disney fandom.
Ironically, D23 itself has sometimes struggled to embody the very idea of One Disney. Although the organization has hosted wonderful park events and acknowledged every corner of the company, those efforts have often felt compartmentalized rather than fully integrated. The club created to celebrate the entire Walt Disney Company has frequently reflected the same organizational silos that Disney itself has been working to overcome. While there are several great people at D23, there have historically been others who have not properly delivered on fan expectations.
Josh D'Amaro has repeatedly said he wants Disney to be led by people who have a genuine passion for Disney. It rarely takes long in conversation to recognize who those people are. Some employees speak about Disney's history, storytelling, and cultural impact with unmistakable enthusiasm because they grew up loving it. Others are simply talented executives who happened to build their careers at Disney. Both groups certainly have value, but the first group naturally understands how Disney fans think because they are Disney fans themselves.
I believe that balance is already beginning to shift. As Disney evolves under Josh D'Amaro's leadership, I expect more lifelong Disney fans to find themselves in positions of influence throughout the company. Cultural changes take time, however, and until they fully take hold, Disney should continue empowering the teams that have already demonstrated they know how to build authentic relationships with the fan community.
One detail from today's earnings particularly reinforced that idea. Josh D'Amaro and Hugh Johnston used the word "fan" eleven separate times in their shareholder letter. That wasn't accidental. It reflected an understanding that Disney's greatest competitive advantage isn't simply the characters it owns or the stories it tells. It is the passionate community that has formed around those stories over the last century. The main reason Disney is in a category of one is their fandom. Wall Street is starting to get the message, particularly when comparing Disney and Comcast’s results, but Disney should continue to lean into this unique strength.
Disney Experiences has embraced that strength more consistently than any other division. The team has certainly had its missteps, but it has also shown a willingness to listen, adapt, and respond to fan feedback. The decision to quickly move forward with Rock 'n' Roller Coaster Starring the Muppets is a perfect example. Disney recognized an opportunity, acted decisively, and ultimately created an announcement that generated tremendous enthusiasm among fans because it reflected an understanding of what the community actually wanted. Disney should call on those who truly comprehend Disney fans to create an enterprise-level fan engagement effort that can truly work across Disney’s businesses, that lives on Disney+ but is not led by the Disney+ team.
Here is another idea. If Disney+ truly is becoming the company's membership platform, there are countless opportunities to strengthen that relationship even further. Why shouldn't every Annual Pass or Magic Key automatically include Disney+? Years ago, passholders received Disney Magazine because Disney understood the importance of maintaining a connection between visits. Today, Disney+ could serve that same role, giving passholders year-round access to Disney storytelling while encouraging streaming subscribers to become future park guests.
Likewise, Disney+ subscribers should feel like they are joining something bigger than a streaming service. Exclusive merchandise, gaming rewards, early access to experiences, park benefits, behind-the-scenes content, and fan events could all become part of a single ecosystem that rewards engagement across every division of the company. Rather than asking fans to join multiple clubs, Disney should focus on creating one membership that celebrates every way people experience Disney.
Josh has spent the last five months talking about operating as One Disney. Transforming Disney+ into the gateway for the entire company could finally make that vision a reality. If that is truly the destination, then the next logical step is making sure every fan program, including D23, is part of that unified experience. The future shouldn't be about asking Disney fans to join more memberships. It should be about building one membership that feels like it belongs to the entire Walt Disney Company.
I also have plenty of ideas about how a free tier of Disney+ could become one of Disney's most effective tools for cultivating the next generation of fans. That, however, is a column for another day.