It’s no secret that since 2021 the Disney brand has cratered.
Between now fired executives imposing their agenda, poor quality content, attacking their customer base, and going to war with DeSantis, the company has fallen.
It was so bad the company brought back former CEO Bob Iger to save them.
Since taking over, Iger fired most of the head content creators who have been the center of controversy and were responsible for multimillion-dollar content projects that have been complete disasters at the box office.
It’s so bad that even tried and true brands like Indiana Jones lost millions.
There were reports that Iger consolidated power; however, he seems to have taken things a step farther, which my signal that he may be trying to turn things around.
Iger confirmed during a meeting with shareholders that he is going to drastically cut back on both “the number of titles we release” and the cost.
“First, the company was completely restructured, restoring creativity to the center of our business,” said Iger. “We made important management changes and efficiency improvements to create a more cost-effective, coordinated, and streamlined approach to our operations.”
“We aggressively reduced costs across the enterprise, and we’re on track to exceed our initial goal of $5.5 billion in savings,” he added. “I’m pleased with how much we’ve gotten done in such a short period of time, but I also know we have a lot more to do.”
As I’ve said before, our progress will not always be linear,” explained Iger. “But despite near-term headwinds, I’m incredibly confident in Disney’s long-term trajectory because of the work we’ve done, the team we have in place, and because of Disney’s core intellectual property foundation.”
“Moving forward, I believe three businesses will drive the greatest growth and value creation over the next five years,” he asserted. “They are our film studios, our parks business, and streaming, all of which are inextricably linked to our brands and franchises.”
It sounds like Iger will be gutting more staff; however, it’s important to remember that many releases that have been the center of controversy were first given the green light before Iger left.
Can they turn it around?
What would Walt think? https://t.co/9M6pG35sg1
— Mike Lee (@BasedMikeLee) August 26, 2023