Disney CEO, Bob Iger on Disney’s Future and the Changing Movie Business
After a three-year absence, Bob Iger returned as C.E.O. to a Disney struggling with streaming losses and a fight with Gov. Ron DeSantis of Florida. He discusses what Walt Disney would think about the company today and his succession plans.
He also touches on the role of CEOs in speaking about global issues, the value of a diverse workforce, and Disney’s relationship with China.
Importance of Succession Planning
Bob Iger underscores the importance of succession planning in businesses, acknowledging that this process can be an area of improvement for many companies, including Disney.
The CEO role at Disney is particularly complex, requiring a combination of energy, patience, and the ability to communicate on multiple subjects.
The Value of Assets and Streaming
Disney constantly evaluates its assets, considering their current value and potential growth.
Particular attention is paid to their alignment with the streaming model, which has become increasingly important in the movie industry.
The decision to keep Hulu, for instance, was based on its potential to create significant opportunities when partnered with Disney Plus.
A robust immigration policy is something that is actually pro-business for us. – Bob Iger
Shifts in the Movie Industry
The movie business has experienced significant changes, with box office numbers now at about 75% of pre-COVID levels.
Despite these shifts, franchises and intellectual property remain highly valuable to Disney.
This value can be leveraged even if the films may not perform as well in theaters, as they can still generate consumption on streaming platforms.
Diverse Workforce and Immigration Policy
Bob Iger emphasizes the importance of a diverse workforce and supports a robust immigration policy as a pro-business strategy.
He believes CEOs have a responsibility to speak out on global issues of relevance, such as immigration policy, which can directly impact their businesses.
Disney’s Stance on Discrimination
Disney took a stand against a discriminatory bill in Florida, which resulted in retaliation from Governor Ron DeSantis.
Iger views this as a violation of free speech rights and an action contrary to American values.
Advertising Decisions and Social Media
Disney suspended advertising on Elon Musk’s platform, X, due to concerns about controversial positions held by Musk.
Despite the importance of social media platforms as communication tools, the company must carefully consider its advertising plans.
You kind of owe it to the company for the board wants you back because they obviously don’t feel they have an alternative at least not at that moment. – Bob Iger
Disney’s Relationship with China
China is regarded by Disney as a crucial market for growth.
Despite tensions between countries posing risks to expansion plans, Iger remains optimistic about expanding Disneyland in Shanghai, predicting it will happen soon.
