Current Climate Taking Its Toll On Disney CEO Bob Iger
Image Source: Fox Business
Disney’s recent box office asteroids are taking their toll on CEO Bob Iger, who came out of retirement in November of 2022 to “save” the company. Bloomberg reports how a source close to Iger claims the company head feels “overwhelmed and exhausted from the company’s struggles.
Disney’s successes are known worldwide, ranging from animated to live-action films. However, the company struggled to gain audiences' attention in past years, resulting in an estimated $900 million loss from several failed films. This is on top of Disney Parks losing attendees and Disney+ losing 150.2 million subscribers in the fourth quarter of 2023 alone.
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Image Source: Tribeca Film
At the company’s third-quarter financial call, Iger said, “The studio has had a tremendous run over the past decade, perhaps the greatest run that any studio has ever had, with multiple billion dollar hits…that said, the performance of some of our recent films has definitely been disappointing, and we don’t take that lightly.”
He continued, “As you’d expect, we’re focused on improving the quality and performance of the films we’ve got coming up. It’s something that I’m working closely with the studio on. I’m personally committed to spending more time and attention on that as well.”
Unfortunately, Iger may not be listening to his audience closely enough, as a potential reason the films are underperforming is the quality of films. Indiana Jones and the Dial of Destiny, The Little Mermaid, and Elemental received poor reviews from critics and fans. And these films had hefty budgets to hire strong scriptwriters.
As 2023 draws close, fans can only wonder what is in store for the House of Mouse in 2024.
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Sources: ScreenRant, Statista, Newsweek
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