Disney CEO Bob Chapek is infamous within the Disney community. Chapek is often compared to his previous counterparts, Michael Eisner and Bob Iger, who each have faced their own struggles, controversies, accomplishments, and triumphs. Chapek seems to get the short end of the stick a lot, however, with Guests and fans alike blaming him for anything and everything bad about The Walt Disney Company.
This is not to say he does or does not deserve the criticism he faces, but Chapek received a plethora of it on the daily.
Recently, Chapek did an interview with CNBC in which he discussed business strategies, Disney+ changes, and price increases, all with his trademark corporate flair.
This interview comes just a day after the third quarter earnings were revealed for The Walt Disney Company, in which we found out a whole bunch of information, some of it quite surprising.
According to the report, The Walt Disney Company’s revenues for the quarter and nine months grew 26% and 28%, respectively, an impressive number considering the earnings report for the first quarter of the year already showed record growth for the company.
In the interview, Chapek is asked about the pricing structure at the Parks and whether Guests can expect them to increase yet again, to which he responds, “we can move on a dime…we operate with a surgical knife here. We’re at a level of sophistication with our pricing.” Chapek claims the company is very “flexible” on pricing.
Chapek was also asked about attendance, to which he claims, “We’re seeing no softening at all of our demand.” This slightly goes against what the earnings report stated yesterday, though Disney was admittedly vague with its description in which it stated Disneyland was seeing an “unfavorable” attendance mixture in the Park.
“Our Parks division was extremely strong,” says Chapek, contrasting the record profits the company is pulling despite inflation and the current state of the economy in general. “People are spending more, and they’re very happy.”
Chapek also compared Disney to its “competitors,” saying Disney is “much more diversified, much more balanced, great brands, great franchises.”
You may have also noticed Bob Chapek’s new look in the interview, as he sported a dignified, trimmed grey beard. A lot of fans made the comparison between Chapek and Obadiah Stane, the villain from Iron Man (2008) who was played by Jeff Bridges.
When the company’s earnings were revealed yesterday, Chapek issued the following statement:
“We had an excellent quarter, with our world-class creative and business teams powering outstanding performance at our domestic theme parks, big increases in live-sports viewership, and significant subscriber growth at our streaming services. With 14.4 million Disney+ subscribers added in the fiscal third quarter, we now have 221 million total subscriptions across our streaming offerings,” said Bob Chapek, Chief Executive Officer, The Walt Disney Company.”
You can check out the full interview on the CNBC Television YouTube Channel or watch it linked down below:
What do you think of Bob Chapek as CEO? Do you like his new look?