Disney CEO Bob Iger Continues To Preach Creativity
One of the major complaints during Bob Chapek’s tenure as CEO was the emphasis that Disney’s new organizational structure put on business and profit over creativity.
The marginalization of Disney’s creative talent was seen as one of Chapek’s major mistakes.
When Bob Iger reassumed control of the company last November, the returning CEO vowed to put more control back in the hands of Disney’s creative personnel.
In a memo to Disney employees, Iger referenced his commitment to creativity, saying, “A number of you who worked with me know I’m obsessed with that… But I’m obsessed with that for a reason. It is what drives the company.”
A Structure Conductive To Creativity
Then in February 2023, Iger revealed his long-awaited company restructuring. At the time, the CEO touted the new structure as a return to Disney’s creative values.
“Our company is fueled by storytelling and creativity,” he said. “Virtually every dollar we earn … emanates from something we created.”
He further went on to explain that the new company structure, which broke Disney up into three divisions, was “aimed at returning greater authority to our creative leaders.”
Business and Creativity
Now nearly six months into his return tour, Bob Iger sat down with TIME Magazine to reflect on his vision for Disney. Once again, creativity, combined with accountability, was at the core of his vision.
When it comes to managing Disney, Iger wants to make sure that his creative people understand the business and vice versa.
“There’s nothing I’m more sure about than the decision that we made and the need to tie accountability. And to some extent, a degree of control—over the business side of our business with the creative side of our business.”
“If you are the manager of creativity, then it is absolutely necessary that you have complete accountability for the results of the creativity that you’re managing, not just in terms of revenue generation, but in terms of how much you spend on what you create, how much you spend to bring it to market—not just distribution costs, but marketing costs. One of the things that is most important for those managing creativity is a very, very defined, and very, very tangible feedback loop,” he said.
The Key To Disney’s Future
When it comes to Disney franchises having an elongated future and the company facing the next 100 years, Iger once again believes that creativity and storytelling are key.
“The answer is really to continue to fuel it with great creativity, particularly storytelling. And to not underinvest, actually, in those. And to respect the past, but also be completely capable of and willing to be relevant by some degree of modernization; understanding that the world has changed and while certain stories stand the test of time, others don’t. You have to be incredibly adept at being able to read the read the room, so to speak, or the world, in order to maintain brand relevance, character relevance, franchise relevance.”
Sticking To His Guns
With that being said, Disney is facing a large debt load as a company. The CEO has formerly spoken out about his goal to cut $5.5 billion dollars in debt. The question is, can Disney remain a creative force while managing a tightened budget? Iger thinks so.
“If you look at the reductions that we’re making. They’re designed to invest the right amount of money in great creativity. The more efficient you are at running a company, the more you can spend on what is the most necessary. In this case, it’s quality and creativity.”
In the end, Bob Iger is hitching his horse to Disney’s creative ability. His legacy may be defined by how well Disney can balance its financial woes with its creative power.
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