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Credit: CNBCDespite Disney letting go of thousands of employees, Bob Iger has a plan to save the company and help restore some stability.
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With the park’s revenue going up, fans might think Disney is doing better, but the company had losses with Disney+ and is having to let go of a lot of employees. Their financial situation is why the company pushed out Bob Chapek for Bob Iger. After he has returned, Disney has been quietly working to make amends, and Iger has confirmed a certain plan for how to help the company move forward.
It’s not surprising that there’s a lot of pressure on Iger to succeed. The man has single-handedly brought a lot of success to his company under his previous leadership, and now Disney needs it more than ever before. Streaming services have been a constant struggle for Disney as they have to compete with other big streaming platforms, and even though they might have franchises like Star Wars and Marvel, that doesn’t guarantee subscribers.
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MCU fans are tired of Marvel releasing projects before the CGI is fully finished, leaving many details to be rushed. This led Marvel Studios to promise to slow down and ensure better quality for the rest of the MCU. Star Wars hasn’t seen a single movie since Star Wars: Episode IX — The Rise of Skywalker (2019), but Disney+ has released a few Star Wars series.
Some of them have been great such as The Mandalorian, while fans were upset at the lack of quality seen in other series like The Book of Boba Fett and Obi-Wan Kenobi. Overall, Disney+ isn’t doing well as it should be, and since the company is suffering losses, Iger had the plan to help fix this.
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During his first earning call back as CEO, Iger revealed his new plan to fix the company’s structure. When Chapek took over, he changed the structure to give most of the creative control for marketing and other important decisions over to the Disney Media & Entertainment Distribution division, and Iger believed this damaged the company:
“Our new structure is aimed at returning greater authority to our creative leaders, and making them accountable for how their content performs financially. Our former structure severed that link and it must be restored.”
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From now on, fans can expect creatives at Disney to go back to having more control and, in return, be more responsible for how well their projects do. Iger reiterated this later on during the call:
“Moving forward, our creative teams will determine what content we’re making, how it’s distributed and monetized, and how it gets marketed.”
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This is a smart move for Disney as it helps make different parts of the company ensure their success by having more control. Having someone else make these decisions probably hurt the creative process as teams weren’t fully in control and therefore left to create great concepts that were probably partially used.
While this is a return to the older system, it shows that Iger is taking the necessary time to make big changes to the company and continue to repair the damages Chapek left for the CEO.
Do you think this move will help Disney? Let us know what you think!