The CEO Of The National Association of Theatre Owners Is Glad Bob Chapek Is Gone
It’s no secret that former Disney CEO Bob Chapek was not overly popular with Disney’s fanbase. But as it turns out, not all of Hollywood was thrilled with the former executive’s performance either.
In a recent interview TheWrap, CEO of the National Association of Theatre Owners John Fithian spoke about his optimism surrounding movie-goers returning to theaters.
When talking about the current state of Hollywood, Fithian believes that there has been a change in the way studios are distributing their films. As media companies shift their focus away from streaming subscriber count and back towards profitability, there has been a recommitment to the movie theater.
“Bob Chapek Was Not Our Friend”
According to the Fithian, one of the changes that helped stem the tide was the replacement of Bob Chapek with Bob Iger.
“Look, Bob Chapek was not our friend. I’ll just be honest,” Fithian said. “He did not believe in the theatrical model. It was all about Disney+ and their investors were saying it was all about Disney+. Until they looked at the money and suddenly Wall Street said, ‘Uh, theatrical is important.’”
Under Bob Chapek, Disney experimented with releasing several high-profile movies exclusively on Disney+ or simultaneously in theaters and on streaming.
Big Disney releases including Raya and the Last Dragon, Jungle Cruise, and Black Widow were all released via Disney+ Premier Access, which cost users $30.
The decision to release Black Widow on Disney+ in addition to theaters led to a lawsuit from star Scarlett Johansson that Disney eventually settled out of court.
Even after Premier Access was eliminated, Disney experimented with shortening theatrical windows in order to rush content to streaming.
Encanto for example, grossed less than $300 million worldwide during its 30-day exclusive run in theaters, before setting records for Disney on streaming.
“We do not subscribe to the belief that theatrical is the only way to build a Disney franchise,” Chapek said.
Can Disney Reclaim Its Throne?
Since Disney has returned to the box office, it has been tough sledding for the studio’s animated releases. Lightyear struggled at the box office, earning just $226 million worldwide.
Then, last November, Strange World became one of the biggest box office bombs in Disney history, costing the studio over $100 million.
With Bob Iger back at the helm, however, Disney seems committed to making their films “event releases” again. Whether or not they can regain their stronghold over movie theaters, however, remains to be seen.
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