Bob Iger’s Back - What’s Next for Disney?
Image Source: Fox Business
Bob’s back! And this time, it’s personal.
Well, probably not, but the unexpected return of Disney’s former CEO certainly raised a few eyebrows, and surprised the rest of those faces as well. The return of such a revered leader means that there will undoubtedly be a number of changes coming to the House of Mouse. What will be the three main challenges Iger faces in his noble quest to please fans, investors, shareholders, and anthropomorphic mice?
Disney+
After the “Covid Boom,” Disney’s streaming service has not been quite the roaring success they hoped, and with a number of disappointing financial quarters hanging over the paid subscription service, this will be a BIG challenge for the Disney veteran.
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With more platform choices than ever before, and a global cost of living crisis tightening purse strings across the board, Disney’s promise to investors that the streaming platform will be profitable by 2024 is coming up fast. A looming price increase and an ad-supported version aren’t traditional ways to win over hearts and minds—no matter how cute Baby Yoda is.
Theme Parks
Remember that cost of living crisis I mentioned? That is a full-blown recession now. So, when over half your organization’s operating income comes from your theme parks and experiences, this has to be a concern. No matter how magical your kingdom is, families and couples struggling to make ends meet may be less likely to splash out on a trip to Disneylands/Worlds/Parks. That being said, Iger was CEO during the 2008 recession, and while attendance did drop understandably, Iger was lauded for keeping the parks busier than even the most optimistic estimates suggested.
Image Source: Chief Executive
Image Management
This problem can be looked at in two ways with regard to fans and to stakeholders. Disney’s public relations engine has been kept busy during Iger’s replacement—Bob Chapek’s—tenure in that Disney was called out by fans for everything from drastic price increases, LGBTQ controversy, and odd political bouts. The fallout of these is that a lot of paying customers and staff turned against Disney, resulting in a substantial loss of revenue.
Secondly, Iger now has to live up to his mythological status upon his return. The golden goose is only as good as its last egg, and already some big investors have publicly come out in opposition to his rehiring.
Good Luck, Bob. Just reveal Doctor Doom, and we’ll call it a day, eh?
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Source(s): The Disney Food Blog
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