food IS a theme park
Disney has been in the middle of a heated WAR.
©Disney
No, we’re not talking about the battle with Florida Governor Ron DeSantis and the situation with Disney’s Reedy Creek District. And no we’re not talking about those Park Pass lawsuits or the replacement of Bob Chapek with Bob Iger. And we’re not even talking about the battle to acquire Hulu. So what’s going on here? And just what war did Iger win before it truly began? Let’s dive in!
Bob Iger has been back at Disney for just a few months, but we’re already seeing some big changes.
©Disney
Recently, Iger announced a massive restructuring at the Company, discussed how Disney’s theme park pricing was “alienating” some and how they’re taking steps to change that, and also made comments about Disney managing capacity to shift the mix away from Annual Passholders. So what’s next? Well, it looks like big changes could be on the way when it comes to Disney’s streaming service and Hulu.
Bob Iger announced a massive Disney restructuring recently and it’s already having a big impact on the Company.
©Disney
The changes, which took place effective immediately, are meant to restore a greater amount of control to Disney’s creative leaders and essentially undo the structure put in place under Bob Chapek. There will be 3 key segments at Disney under this new structure: (1) Disney Entertainment, (2) ESPN, and (3) Disney Parks, Experiences, and Products. But just how is this change impacting Disney’s leadership team? We just got an update.
Bob Iger returned as Disney’s CEO in November 2022 with a 2-year term and a clear mandate — reorganize the Company for success and find someone else to succeed you as CEO.
©Reuters | Disney CEO Bob Iger
Since that time, we’ve already seen Iger make some big moves. Certain executives have left the company, a massive restructuring was recently announced, Iger has expressed that he is really focused on making streaming profitable, and layoffs and other cost-cutting measures are on the way. But if you, like many others, have wondered just whether 2 years will be enough for Iger to do what he wants and if he’ll stay longer, there’s an update you need to know about.
November 2022 brought sudden DRASTIC changes to the Disney Company.
Bob Chapek and Bob Iger©CNBC
Bob Chapek was swiftly removed as CEO and Bob Iger returned to the position. Since that time we’ve seen a lot about what led to Chapek’s removal and what Iger felt about certain decisions Chapek had made. But now we’ve heard even more from Iger himself about the decision to pick Chapek as his successor.
Disney has been in the middle of a huge battle lately, but it has finally ended.
©Disney | Walt Disney Company Headquarters
Activist investor Nelson Peltz and his company (Trian Partners) had initiated a proxy battle at the Walt Disney Company. Peltz’s goal was to get a seat on the Board of Directors at Disney to champion some of the changes he thought needed to be made within the Company. Disney had refused to add Peltz to the board despite Peltz having various meetings with them, and Disney made it clear that they did NOT support Peltz’s move to encourage shareholders to vote for him to grab a seat from another director. One reporter even called this proxy situation Bob Iger’s “fight for the future of Disney.” But it seems the fight is now over.
We just got some MAJOR updates from the Walt Disney Company.
Walt Disney World
On February 8th, 2023, Disney released its earnings report for the first quarter of the 2023 fiscal year (this covers a period from early October 2022 through December 2022). A lot has changed since the last report we got in November of 2022. Bob Chapek is no longer the CEO, Bob Iger has returned, Disney+ has launched its ad-supported tier, and some park perks are back. Chapek was still CEO for part of the period covered by this earnings call though, and Iger would have only had a few weeks to really change things. So how is the Company doing financially? Let’s find out.
Streaming has become a big part of Disney’s business but also a big point of contention when it comes to Disney’s finances.
©Disney
Back in November of 2022, we got an updated look at the Disney+ subscriber numbers but we also learned that Disney’s streaming business as a whole had a loss of nearly $1.5 BILLION. This tremendous loss, among other things, ultimately contributed to the ouster of Bob Chapek as CEO. Since that November report, Bob Iger has returned as CEO and Disney has officially launched its ad-supported Disney+ tier. So what is going on with Disney’s streaming business now? We found out.
Since 1980, The Walt Disney Company has partnered with Make-A-Wish to make dreams come true.
Dreams Come True
Now, a familiar face is joining the national Board of Directors for Make-A-Wish America. [Read more…]
Disney is one of the most closely scrutinized companies in the world. There is constant analysis and commentary on the company’s finances, strategic decisions, leadership, and the content it produces.
©Fox 11 Los Angeles | Protestors outside Disney headquarters in April 2022
The Walt Disney Company is run by a Board of Directors elected by shareholders. These board members often have many years of executive experience, and they have full-time jobs with huge compensation packages. So, why would anyone who already has a great job want to sign up to be under the kind of scrutiny that these board members are under?
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