This has not been a good year for Walt Disney (DIS -0.83%) shareholders. Investors have seen the media giant's stock plummet 39.7% this year, more than double the stock market's slide. 

Revenue rose 23% for the fiscal year ending in September -- and net income climbed even higher -- but that came from depressed financial results in fiscal 2021. With operating losses at Disney+ widening and some of its legacy businesses struggling it hasn't been a banner year. Let's take a contrarian approach by highlighting the positive. Here are some of the things that Disney got right in 2022. 

Cinderella walks back to her castle at Disney World's Magic Kingdom.

Image source: Disney.

1. The return of Bob Iger

History won't be kind to Bob Chapek's pandemic-era tenure as CEO of Disney. He polarized the family entertainment behemoth's fan base, alienated theme park enthusiasts, and fumbled the financial viability of the Disney+ golden goose. Disney's boardroom paving the way for Bob Iger to come back as CEO late last month was surprising largely because those same directors had extended Chapek's contract just months earlier.

Iger returns after a well-received 15-year run at the helm before handing the keys to Chapek in early 2020. There may not be enough pixie dust in Iger's arsenal to turn things around overnight, but just his presence is enough to improve morale and reset the anti-Disney bias. Iger says he's only coming back for two years, but he also pushed out his exit a couple of times in his initial stint as CEO.  

2. Disney+ is in a position to succeed

Disney's streaming business is growing, but it's also bleeding. The segment that includes Disney+, Hulu, and ESPN+ posted an operating loss of more than $4 billion in fiscal 2022, including a nearly $1.5 billion hole in its latest report. The flagship Disney+ service is now at a whopping 164.2 million subscribers worldwide. The platform has spent a lot of money on content and international expansion. It's now time to cash in on its audience given the scalability of streaming services.

A big step came late last week when Disney+ boosted its subscription rates while also introducing an ad-supported tier. Stateside accounts can continue to enjoy Disney+ without commercial interruptions for $10.99 a month -- a 38% increase -- or put up with a limited number of ads and pay just $7.99 a month. 

It's a fair proposal. Disney+ was too cheap at $7.99 a month. Disney's direct-to-consumer segment losing almost $500 million a month last quarter is an indicator that it was offering a lot for the money it was charging. It's also an indicator of cost mismanagement, but Iger has already moved to shake things up on that front. 

Let's also not underestimate the new ad-supported service. Disney is no stranger to selling TV spots, and now marketers will get a chance to reach this highly elusive audience. The pricing move was announced weeks before Chapek was sent walking, but Iger will reap the rewards now.

3. Theme parks are thriving financially

Finally there are Disney's popular gated attractions, the one segment that's thriving on the top and bottom lines. The operator of the world's most visited theme parks has thrown a lot of things at its guests on this side of the COVID-19 crisis. They need to make reservations. They need to pay for access to expedited queues. Prices for day tickets and annual passes are sharply higher.

Many diehard Disneyland and Disney World visitors aren't happy, but they keep coming. Per capita revenue is up 40% in the last three years, more than enough to offset the inflationary labor and input costs. It's a delicate balance for Iger to negotiate -- keeping the turnstiles coming at healthy revenue profiles -- but he knows the drill. This isn't his first rodeo at the media stock bellwether. He's tall enough to go on the ride.