Disney Headlines for January 6th, 2022
Over the past week, Robert Iger said his goodbyes, and the media lapped up every word.
Also, new technology could revolutionize Disney theme parks in a couple of years. And Winnie the Pooh could belong to the world soon.
Here are the fascinating Disney Headlines for January 5th, 2021.
Goodbye, Bob #1
The Two Bobs have run The Walt Disney Company for the past two years. In February of 2020, Bob Chapek earned the title of CEO.
However, Chapek’s boss remained the same. He still worked for Bob Iger, the previous CEO and Chairman of the Board and Executive Chairman.
Then, on New Year’s Day, the situation changed. After a long goodbye, Iger returned from Disney. He’d worked there since 1996.
Here’s the final tweet Iger posted as a Disney employee:
This is the end of my 47 1/2 yr ABC @Disney journey and it was “the ride of a lifetime.” Enormous thanks to my colleagues & fellow cast members & special thanks to my wife Willow & my 4 children: Katie, Amanda, Max & Will. I couldn’t have done this without your love & support. pic.twitter.com/n74x4FLqx0
— Robert Iger (@RobertIger) December 31, 2021
Yes, he’s shilling an interview he did with Variety in that second image. You can read it here.
The leadership change at Disney feels cataclysmic, as Iger stakes a claim as the greatest living CEO.
That’s not me saying that. On the contrary, major business publications have argued in Iger’s favor.
Obviously, interest runs high with his retirement. As a result, Iger has performed several outgoing interviews, leading to significant headlines.
The most notable one is something I’ve previously mentioned. Iger believes that Apple would have purchased Disney if not for the death of Steve Jobs.
However, we learned several other interesting tidbits. For example, Iger deems his proudest moments as CEO as the success of Black Panther and the opening of Shanghai Disneyland.
Iger almost reflexively adds Pixar soon afterward, followed by Marvel, which he doesn’t sound as emphatic about.
Whatever happened with Jobs and Iger has undeniably imprinted on his psyche. The two CEOs bonded much more than anybody on the outside realized.
Before Iger left, he also tweeted this lovely sentiment to cast members:
Just spent 3 days @WaltDisneyWorld & was reminded (yet again) what makes me so proud of @disney…our cast members! Thanks for taking care of me all these years. Thanks for your talent, your commitment & the gratitude you expressed. I am deeply grateful to all of you!
— Robert Iger (@RobertIger) December 30, 2021
Behind the scenes, Iger’s legacy is as a master politician. Everything he did on the way out the door reinforces this perception.
You’re in Charge, Bob #2
The side topic regarding Iger’s retirement is that Chapek has control now.
During the pandemic, Iger famously made headlines for suggesting that he, not Chapek, was calling the shots.
You can imagine how Chapek felt when he read these comments. Nobody wants their boss to dismiss them like that.
So, people are trying to get a read on what Chapek will do now that he’s no longer under Iger’s thumb.
As I’ve mentioned before, many of the unpopular 2021 decisions at Disney weren’t Chapek’s call. Instead, those plans were in motion under Iger.
Now, consider that when Iger got the job, he made a quick splash move in acquiring Pixar.
Chapek likely doesn’t have the financial resources to do that right now. After all, Disney’s still paying for its Fox acquisition.
What’s the Plan Now?
What will Chapek do? That’s the subject of much Wall Street speculation right now. One person who chimed in on the record is FX Chairman John Landgraf.
The executive described his former boss this way:
“There’s no vacuum when Bob Iger is present. He fills all of the available space. He is a creative force and personality.”
Landgraf describes Chapek’s job to date as:
“Bob [Chapek] intentionally hung back and dealt with all of these complicated logistical challenges, COVID, and all of that.”
In other words, Chapek has done the dirty work while Iger has completed all the creative projects already in motion.
Landgraf concludes with words about Chapek that will please any Disney fan:
“I think he’s done all the right things to pick up the baton from Bob Iger and set this company up for success for the next decade.”
Those aren’t the comments that Chapek’s detractors want to hear. However, the head of FX Networks is sometimes referred to as the “Mayor of TV.”
If he didn’t like Chapek, he could leave tomorrow and work anywhere he wants. The fact that the new CEO has earned his respect is telling.
Disney v. the Public Domain
You may have read the story that Disney is losing the copyright to Winnie the Pooh. That’s a half-truth.
The original A.A. Milne stories will likely enter the public domain in 2022. Disney has owned the rights to the characters from Winnie the Pooh since 1961.
This move has proven insanely lucrative, as Disney’s profits from Winnie the Pooh have approached those of Mickey Mouse.
Some analysts believe that Disney earns as much as $6 billion annually from the characters of Hundred Acre Wood.
I suspect it’s closer to half that amount, which is still $3 billion. So, Disney obviously doesn’t want to lose Winnie the Pooh et al. And it won’t.
Even if the stories become part of the public domain, people cannot use the Disney-fied versions of the characters. Those are proprietary and not in the public domain.
As such, we may witness lots of Disney lawsuits involving Winnie the Pooh over the next few years.
In addition, Disney lawyers are at least toying with the notion of suing to extend exclusive rights to Milne’s characters.
Disney wouldn’t even take this step exclusively for Winnie the Pooh.
The company would do so with an eye on 2024, the year when Steamboat Willie could enter the public domain.
In fact, the doomsday scenario occurs in 2025. That’s when Mickey Mouse theoretically becomes a public domain character.
Disney successfully sued to extend its rights once already.
To this date, some lawyers call the Copyright Term Extension Right by a different name: the Mickey Mouse Protection Act.
So, this story has just gotten started, at least for Disney fans.
Other Disney Headlines
Have you ever used a Virtual World Simulator? Of course, you haven’t because Disney only recently patented the technology!
What does this augmented reality (AR) tech do? Basically, it allows you to notice AR elements while visiting the parks.
However, you don’t need to wear a virtual reality headset, pull out your smartphone, or do anything else.
This technology employs 3-D projections to augment the reality of Disney theme parks, akin to how the light shows work at Cinderella Castle.
The underlying premise is that the tech will “continuously track the ever-changing point of view of a visitor moving through a real-world venue like a theme park attraction.”
Presuming that this tactic works as expected, cartoon characters could join you during your Disney park visits!
This idea sure sounds like phase one of Disney’s metaverse. Expect a gradual rollout by 2024, possibly even earlier.
After all, Universal Studios has already implemented somewhat similar tech on two rides. So, we’re not that far away from widespread adoption of the practice.
While we’re on the subject of Disney tech, I want to share this remarkable story about Frozen.
The special effects from this movie proved so impressive that they helped to solve a mystery from 1959! Elsa’s just that good, folks!