Disney’s Former CEO Can't Wait To Be King (Again)

Disney’s Former CEO Can't Wait To Be King (Again)

over 1 year ago2 mins

Mentioned in story

Disney’s former CEO Bob Iger confirmed his return to the kingdom’s throne in an email sent to Disney staff late on Sunday.

What does this mean?

Bob Chepak probably didn’t realize what a hospital pass he’d been thrown when he took the reins of Disney back in February 2020. The Covid-haunted months that followed forced Disney to shut theme parks, halt blockbuster releases, and watch Netflix gallop ahead in the streaming wars while the locked-down world binge-watched Tiger King. But even given those challenges, Disney seems to think Chepak fumbled the pass, and after two and a half years of his mixed performance, the entertainment titan has given the throne to his predecessor Iger once again.

Disney returns

Why should I care?

Zooming in: Striking balance at the media empire.

Disney’s gone all-in on streaming since 2019, sparing no expense to woo customers to its fledgling Disney+ platform. And with a two-hundred-million subscriber count to boast about, you’d assume the gambit hit the mark. Well, not according to shareholders: they’re worried that Disney’s golden geese, like theme parks, could get slaughtered in order to fatten streaming numbers. So with Iger returning to the helm, they’ll be hoping to see a much more even keel from now on.

Zooming out: From kings to paupers.

Disney had it easy back in the pre-streaming days: content was king and media giants called the shots, dictating their fees to cable companies with a kind of unquestionable royal power. But everything changed when Netflix appeared on the scene and starting toppling old favorites from their thrones. It’s no surprise, then, that the oldies eventually jumped on the streaming bandwagon. But since life outside the cozy cable bundle can be a lot more expensive and a lot less lucrative, many old media firms are facing a pretty uncertain future right now.

Disney vs Netflix subscriptions
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