Recently, there have been some big shake-ups in leadership for The Walt Disney Company.
A few weeks ago, Bob Chapek stepped down as CEO of the company and was replaced by former CEO Bob Iger. Since then, we’ve seen some big changes with staffing, namely with some people who were hired during Chapek’s time in the role. Many fans and analysts have predicted that additional changes are on the horizon for the company with Iger back, but now we’ve got some comments from Disney on that very subject.
In a report filed recently on The Walt Disney Company’s website, we found lots of data on finances, statistics for the parks, and goals for media production moving forward. But perhaps one of the most interesting tidbits from the report was the commentary on Bob Iger’s return.
The report notes the following: “As contemplated by the leadership change announcement, we anticipate that within the coming months Mr. Iger will initiate organizational and operating changes within the Company to address the Board’s goals. While the plans are in early stages, changes in our structure and operations, including within DMED (and including possibly our distribution approach and the businesses/distribution platforms selected for the initial distribution of content), can be expected.”
The report also added that “The restructuring and change in business strategy, once determined, could result in impairment charges.” So now Disney has put on paper that we can expect changes in the coming months, and it’s likely that they’ll come swiftly since Bob Iger has only committed to taking the role of CEO for two more years. We’re interested to see what happens next.
Note that in the quote above, Disney mentions two big facets that will change with the company — organizational and operational. We’ve already started to see those organizational changes with some of Chapek’s executives leaving the company, so that one isn’t as much of a surprise.
But what about those “operational” changes? It looks like those will be focused in the media division of the company. The quote specifically references changes coming to DMED (Disney Media and Entertainment Distribution), along with possible updates to the distribution of content. For example, this could mean changes with Disney+ or the way that films, series, and other content are marketed and sold. Hence, why Disney mentioned the “distribution approach and the businesses/distribution platforms.”
It makes sense that these will be the initial goals for the company under Iger’s return. The media division is where Disney has been suffering since the pandemic, and it’s evident through box office numbers and other revenue from big film and movie projects.
So what does all this mean for Disney parks fans? Well, the parks have recovered fairly well from the pandemic, and revenue has been up due to increased guest spending (thanks to higher ticket prices and the popularity of Genie+ in the domestic parks). Because of this, it’s likely that the first changes Iger makes will not be focused on the realm of the parks. Disney’s wound is in its media division, and that’s what will need to be fixed.
Stay tuned to AllEars for the latest updates from the parks, as well as news about the state of The Walt Disney Company as a whole. We’ll be monitoring this situation closely to see what updates Bob Iger makes in the near future.
And if you want more information on the change in leadership, make sure to check out our other posts on what Iger returning as CEO could mean for the company, as well as what likely WON’T happen now that he’s back in office.
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Which changes do you think will be made with Bob Iger? Tell us in the comments!