Bob Iger Explains Disney’s New Path
On a day not too long ago, Bob Iger, the CEO of The Walt Disney Company, served a cold dish of revenge on two powerful individuals.
Billionaire Isaac Perlmutter had requested layoffs to increase Disney’s revenue potential.
Photo:Cosmicbooknews.com
The former Marvel owner got his wish…when Iger picked Perlmutter and his friends as several victims of layoffs. Karma is real.
Similarly, Iger pulled a fast one on Florida governor Ron DeSantis, who learned that his attempt to neuter the Reedy Creek Improvement District had utterly failed.
Photo: Fox35Orlando.com
What we’ve since learned is how Iger spent that morning. He was doing a Time photoshoot and interview as one of the publication’s 100 most influential people.
Ron DeSantis and Isaac Perlmutter didn’t earn a spot on this list, something for which both men are acutely aware.
During his interview, Iger revealed more about his leadership process and what’s next for Disney.
Photo: TIME
MickeyBlog’s Justin Hermes has already reported on several highlights from the meeting, including that he would agree to meet with DeSantis.
Here are some other takeaways from the Disney’s CEO explanation of the company’s new direction. You’re gonna like it!
The Political Masterstroke
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Time Magazine hasn’t hidden its stance on Iger’s undesired battle with Florida’s governor.
Instead, the publisher has posted articles with clickbait headlines like “Bob Iger Outsmarting Ron DeSantis Is a Master Class in Taking on Bullies.”
The interviewer even encourages Iger to claim victory, asking the pointed question, “Did you checkmate Ron DeSantis?”
Statements like this make me extremely nervous.
The analogy I’ve used lately is that Disney just saw the angriest man at a party, walked over, and kicked him in the junk.
Image: Disney
There’s an adage about wounded animals being dangerous. It applies to Florida governors as well.
DeSantis strategically planned his book tour around the premise of “There’s a new sheriff in town.” He expected a victory lap.
Image: Disney
Instead, headlines across the country have taunted him as losing a fight with Mickey Mouse. That battle remains unsettled despite what anyone believes.
Ultimately, a court will decide who wins. Until then, the perception is definitely that Mickey Mouse wrecked Florida’s governor.
Image: Disney
To his credit, Iger refused to take the bait. Instead, Disney’s CEO offered the following summary:
“Our sole goal in Florida is to continue creating that value for all those constituencies. All we want is a relationship with the state that enables us to continue to do that.”
Image: Disney
Iger added that he would meet with DeSantis if Disney’s leader believed they could find common ground.
As MickeyBlog’s Justin Hermes aptly summarized, “A calm, rational, meeting between DeSantis and Iger seems too good to be true in today’s political environment.”
Disney CEO Bob Iger, Minnie Mouse, and Katy Perry at the ceremony
Still, Iger took the higher ground here by stating that Disney wanted to remain an excellent citizen of Florida and work with the local government.
His answer here ties into a second takeaway…
Ike Perlmutter and Disney’s Path Forward
Former Marvel CEO Ike Perlmutter (AP Photo/Susan Walsh)
As a reminder, Disney recently fired Ike Perlmutter. That’s not me saying that. The former Marvel owner made this claim in a rare public interview.
Perlmutter, a notorious recluse, wanted the world to know that Iger hadn’t laid him off. Instead, the billionaire believed Disney’s CEO fired him.
That’s a super-weird thing to want the public to know, but Iger again didn’t use his Time interview to gloat.
Photo: AP
The reporter questioned whether Disney’s CEO spoke with Perlmutter about the layoff. Iger stated, “I’d rather not get into details about this one.”
However, the interview pushed back by asking whether Disney had punished Perlmutter for starting a proxy battle via Nelson Peltz.
Creator: Mike Blake | Credit: REUTERS
Iger deftly avoided this acknowledgment, but he also gave himself away a bit. “This decision would have been made regardless of that.”
Folks, I’ll translate that for you. It’s Iger saying, “We were always gonna cut the cord on Perlmutter…but the latest nonsense sped up the timeline.”
Image: Disney
Why would Iger feel the need to eliminate such a successful entrepreneur, the very person who sold Marvel to Disney?
The answer stems from Iger’s newfound purpose. While he was away from the company, the entrepreneur recognized all the mistakes his successor was making.
Photo: AdWeek
Perhaps the distance allowed Iger to view Disney in a new light. Whatever the explanation, Iger has moved with purpose and resolve during his return.
Frankly, we’re watching a master class on how to reorganize an entire business to get it back on track.
Photo: orlandothemeparkzone.com
According to Iger, Disney “needed stability, needed to establish a set of priorities, and focus on them.”
Iger accepted that Chapek’s promotion had unintentionally created a leadership void at the top of Disney’s food chain. He’s fixing that.
What’s the Plan Now?
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How does a company the size of Disney with a century of history readjust on the fly?
Iger suggests that you attain success “by deciding what the opportunities are and then organizing your people and your company to go after them.”
Photo: Disney
The unspoken thought was that Disney suffered from a lack of focus under Chapek, probably because the former CEO was always facing some crisis.
The pandemic caused Disney officials plenty enough problems. Chapek’s tendency to create new ones exacerbated the situation.
Iger is resetting Disney while learning from recent mistakes, including some of his own.
Photo: Lucasfilm
When Disney acquired Lucasfilm, Iger sought to pay for the purchase quickly. He pushed film executives to produce a Star Wars movie per year.
When Solo: A Star Wars Story bombed, Iger appreciated the problem. He’d prioritized quantity over quality.
History repeated itself with Marvel, as Disney+ needed tons of new content to entice subscribers.
Photo: Marvel/Empire
By making more Marvel titles, Disney accidentally saturated the product.
In Iger’s words, the company’s new path highlights Iger’s admission of past transgressions. The CEO believes that the current budget cuts come with a hidden benefit.
Image: Disney
“…curation is a good thing, because it probably forces more discipline on us in terms of quality. The more you make, typically, you dilute quality. And we’re looking to do the opposite.”
Iger later adds that Disney will create fewer stories while ensuring that they’re better.
The early tactic of Disney+ was throwing everything against the wall and seeing what stuck.
Image: Disney
Now, Iger expected more “discipline,” “focus,” and “a sense of urgency.”
Meanwhile, Disney’s “new” approach represents a return to the past.
The Evolution of Story at Disney
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Friends, if you’d ever served time in prison – and I sincerely hope you haven’t – imagine how good the food would taste once you returned home.
I mention this because it’s the feeling I have after three years of chronicling Bob Chapek’s tenure. Bob Iger nourishes me with his polish and genius.
After going through something unfortunate, we’re all thrilled that Iger has ridden in on a white horse to save Disney.
Image: Disney
For his part, Iger seems motivated by the ticking clock on his two-year tenure. He’s more decisive than I’ve seen him since 2005/2006.
Most important to Disney’s leader is the company’s return to basics. Specifically, Disney ascended 100 years ago due to its ability to tell stories.
Now, Iger seeks to reinvigorate the company by doing the same. In his words, Disney must:
(Photo by Jerod Harris/Getty Images for Vox Media)
“…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.”
What he’s saying there should matter to all Disney fans. When Disney retells old stories, it’ll update them to make them more relevant to modern audiences.
Photo: @hallebailey on Instagram
When Disney remakes or reboots its classic tales like Snow White and the Seven Dwarfs and The Little Mermaid, they’ll future new ideas by design.
Similarly, Disney should leave some stories behind because they’re relics. You can guess which film he means there.
(Joshua Sudock/Disneyland Resort)
In short, Iger wants Disney to enter its second century by walking the same path that Walt Disney laid in 1923. He wants Disney to tell the best stories.
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Featured image: Disney
