MasterClass Paid A TON of Money To Recreate Bob Iger’s Office
A lot was made earlier this month about Bob Iger’s unwillingness to give up his office when Bob Chapek succeded him as CEO of The Walt Disney Company.
While that power play revolved around Iger’s love of his afternoon shower, we have another office story on our hands. If you thought one report on Bob Iger’s office was all you would get this year, you were sadly mistaken.
As it turns out, the educational media company MasterClass paid $100,000 to build a replica of Iger’s office in a conference room. Here is the story.
MasterClass Flew High During the Pandemic
If you don’t remember, MasterClass saw a surge in popularity during the COVID-19 pandemic, as users were able to watch online video classes taught by celebrities and experts from their own homes.
Over the 13 months following May 2020, MasterClass raised $335 million from investors including Fidelity, and was even able to attract the likes of Stephen Curry, Neil DeGrasse Tyson, and former President Bill Clinton to teach a class. They also hired Bob Iger.
According to The Information, MasterClass spent $850,000 on a class that saw Iger teach business strategy and leadership. That cost did not include the money spent hiring the Disney CEO.
Recreating Iger’s Office
While MasterClass initially wanted to film Iger in his office at Disney’s headquarters, the space was deemed unfit for a set.
The company then decided to spend $100,000 building a replica of Iger’s office in a conference room at the Disney Complex. Disney, to their credit, allowed MasterClass to use the room rent-free.
Hard Times For MasterClass
As the COVID-19 pandemic ended and people began to venture outside of their homes, MasterClass has fallen on harder times.
In the last 18 months, the company has halved its workforce to around 300 people over the last 18 months.
In a statement to Insider, a MasterClass spokesperson said:
“Like others, we have been focused on reducing costs and driving efficiencies within our business. These actions have made MasterClass stronger — financially and strategically. Costs are down and our teams continue to innovate in content and formats. Today, we’re seeing strong new subscriber growth, and engagement and are beating our plan on both.”
If I had a nickel for every story involving Bob Iger’s office that came out this year, I would have two nickels. While that isn’t a lot, it is kind of weird that it happened twice.