Bob Iger held his first town hall presentation on Monday to Disney employees, since he retook the helm of The Walt Disney Company, following the firing of previous CEO Bob Chapek on Sunday, November 20.
Iger confirmed that the hiring freeze which was recently announced by Chapek will stay in effect as he reassesses the cost structure of the company. Iger commented saying, “It felt like it was a wise thing to do in terms of the challenges, and at the moment, I don’t have any plans to change it,”
Iger said when he was first rehired that restructring was a priority which was reiterated in the presentation on Monday. Iger will set about redoing Disney’s organizational structure with the help and guidance of other executives including chairman of general entertainment content Dana Walden, Disney Studios head Alan Bergman, ESPN president Jimmy Pitaro, and CFO Christine McCarthy.
Iger also spent time talking about the shift towards making Disney’s streaming business, Disney +, more profitable in ways other than by just adding more subscribers. We are so far unsure of whether this will mean increasing the price of the Disney+ subscription or reducing budget for new programmes or a combination of the two along with inevitably trying to add as many new subscribers as possible. Iger said that he was happy with their current set of assets and therefore wouldn’t be pursuing any major acquisitions in the near future.
Having repeatedly told the media that he would not return to Disney, many Disney fans may have found the news that he was, quite a surprise. Iger noted in his presentation that he wouldn’t have come back if he didn’t believe Disney’s future is bright.
Hearing this is certainly music to every Disney fans ears and we are hoping that the changes that Iger puts into place can return Disney to where it should be and can return Walt Disney World to really being “The Most Magical Place on Earth.”
Do you think the future of Disney is bright? What do you hope Iger changes? Let us know your thoughts by leaving us a comment below or on our Facebook page.
