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Disney’s CEO Bob Iger is Positive about the Future of the Walt Disney Company in a New Interview

Disney’s CEO Bob Iger is Positive about the Future of the Walt Disney Company in a New Interview

Disney’s CEO, Bob Iger had an interview with CNBC this morning. See what he has to say about the future of the Disney parks and his thoughts about the company.

Bob Iger

Credit: D23

Disney’s CEO, Bob Iger returned to the Walt Disney Company in November 2022. After his return was announced, he shared that he expected to be with the company for two years because that was what his contract said. Many probably felt this was short term, but his contract has been extended.

The Walt Disney Company announced that his contract has been extended through December 31, 2026, after voting unanimously. The Board of Directors noted that Iger’s extension provides continuity of leadership during the company’s ongoing transformation, and allows more time to execute a transition plan for CEO succession, which remains a priority for the Board.

Disney Parks and Resorts

Credit: Donna

Today, Iger spoke with CNBC about the Walt Disney Company. He shared his thoughts about the future of the company and other topics such as theme parks and entertainment.

He began the interview by saying that he has “huge optimism” for the company’s theme parks and resorts and also shared that there are opportunities to speed up growth in that segment.

Disney has recently made a lot of news relating to park attendance, specifically attendance on the recent 4th of July holiday. Crowds were much lower than expected in recent years. Historically, the holiday is known to have high crowds and attendance, but this was not the case for 2023.

When asked about this topic that was mentioned in a Wall Street Journal article, he said, “The article was “not accurate” and “focused on crowds on July 4th.” When asked about the recent lawsuit with Florida governor, DeSantis, Iger shared that it has had no impact on crowds at Walt Disney World.

Pricing

Credit: KtP

What about pricing at the theme parks? We have seen prices increase for just about everything. Tickets, dining, Disney Genie+ and even Annual Passes have all seen huge price increases within the past couple of years at all of their theme parks.

Iger shared the following thoughts on pricing for Disney, “pricing at theme parks is not a concern”. He continued to share that he has no long-term concerns about the parks business.

Entertainment

Credit: Disney

Entertainment has also seemed to take a hit within the company. Disney saw a few flops with motion pictures that have been released, including Strange World and Elemental, though this film recently had a huge turnaround at the Box Office.

“There have been some disappointments. We would have liked some of our recent releases to perform better,”

Disney CEO, Robert Iger

Iger even went on to say that “There have been some creative misses.” and that Pixar films going straight to Disney+ made some feel lose the urgency of seeing any new Pixar films in the theater.

Disney’s next fiscal third quarter earnings call is scheduled for August 9th. Stay tuned for any more updates or news for Disney!

Did you watch the interview with Disney’s CEO, Bob Iger on CNBC? What are your thoughts on it? Let us know in the comments below or share this post with a friend.

Source: CNBC


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Wanda

Thursday 13th of July 2023

Rumors are that Apple may purchase Disney. Apple in bed with China so there you go.

Marcy

Thursday 13th of July 2023

PS. Igor expressed concerns about prices while Chapek was in charge but has now changed his tune. All prices in parks are really high especially when we had FREE fast passes and now have to pay fir Genue+ per person which has gone from $15 per person and now $23 plus per person per day. And not only having to purchase park tickets and now have to pay additional cost per ride if you want o go on a few good rides per day and not stand in line forever. So a different tune now that he is in charge again. He is also the one who started all the “wokeness” within Disney which has me rethinking what I let the kids see if Dusney shows and movies which I never had to worry about before.

Marcy

Thursday 13th of July 2023

We are going the beginning of August so am hoping crowds are down as our last visit was insane with the crowds and lines. Have my doubts though as Disney has been offering all kinds of discounts. Fingers crossed

MEG MAYO

Thursday 13th of July 2023

DVC (Disney Vacation Club timeshare) predicted a few years ago that summers would get less busy and other times of the year would get more busy, and adjusted their points charts accordingly (making summers a little less expensive for DVC members). You really can't compare to last summer because that was a peak of "revenge" travelling.

JW

Thursday 13th of July 2023

I was there a couple weeks ago for 10 days. Crowds are definitely down...probably for a variety of reasons. But when you charge much more $ for less of an experience, even diehard disney fans are going to get tired of it! (Especially knowing how good things were prior to covid.)

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