3 Positive Changes Bob Iger Has Made to The Disney Company
Introduction
Bob Iger is an American business man who is the current chief executive officer of The Walt Disney Company. Iger was originally appointed CEO of Disney in 2005 but sadly in 2021 he officially retired from the Company having served over fifteen years. Iger was known as being an incredibly loved and respected CEO by Disney guests and visitors, he was seen as a true believer in the magic and wanting to create the best experience possible.
After Iger’s retirement his successor Bob Chapek took over as CEO for Disney but guests and cast members soon realised the company was under new management. Chapek worked through a difficult period where drastic decisions had to be made during the word-wide pandemic but sadly, Chapek made decisions to prioritise Disney pictures rather than nurturing and taking care of the theme parks. This meant Walt Disney World and other Disney parks suffered from business like changes, which negatively affected guest enjoyment and experience when visiting the parks. Chapek turned Disney from a magical family vacation into an exceedingly corporate and overtly complicated experience.
This year, 2023, will mark the 100th Anniversary celebration of The Walt Disney Company, a celebration of a century of storytelling and magic. Walt Disney believed the parks were an extension of Disney cinema, a chance to step inside the movies and find a new way to enjoy Disney. Chapek neglected Disney parks during his time as CEO but we are now seeing some changes which prove Bob Iger believes Disney park guests are just as important than those who visit the theatres.
Bob Iger has only been re-elected as CEO of The Walt Disney Company since November 2022, meaning in this short period of time he has made some very exciting and promising changes to the company. Here are some of the changes he has made which have had positive feedback from guests. Iger returned free on-site parking for guests at Disney World Resorts, he returned free on-ride photographs to guests using the Genie + app and he re-evaluated the park pass reservation system for Annual Pass holders. These changes have impressed guests and cast members alike and set the ball rolling for Iger’s reign.
Although the changes mentioned above are monumental for Disney parks, it is important to reflect on some of the other positive changes Iger has made and plans to make.
The Disney Trilogy
Firstly, Bob Iger has announced he will be completely restructuring the company by creating the Disney Trilogy, splitting the company into three district sections which will be nurtured by specific teams. Disney Entertainment, this sector involves all areas of media; Disney + and Disney Movies. The next section of the company is ESPN, this is the umbrella category for all things sports. Finally, the third part of the company is Disney Parks and Products. This final section looks after consumer products, parks, resorts and the cruise line. By separating the company into three distinct sectors, Iger’s ideal plan is to allow full control of each moving part. Meaning, he can assign a strong team to concentrate solely on their sector of the company, he will be applying a lot of attention towards Disney Entertainment. The Entertainment sector had a tragic year in 2022 after the Disney + steaming platform lost a recorded $4.2 billion, his attention will defiantly be bias towards making up those losses and continuing to gain subscribers.
The Disney trilogy is a positive change for eager Disney guests and consumers as each sector of the company will be managed and taken care of closely, not that it wasn’t before but now it will be more than ever. Fans and guests can now monitor changes to their preferred section of the company and keep a close eye on any changes to their favourite movie releases or Disney park updates. This restructuring is a positive insight and shows us the new goals and achievements Iger plans to develop, this will make the company organised and drive for success in the coming years to reverse the negative impact of Chapek’s decision making.
Going Back to the Office
Secondly, Iger is a strong believer in the workplace being a comfortable, sociable and welcoming environment. Since the pandemic plenty of employees all over the world call their home their office but Iger wants this to stop. For Disney employees who are used to working from home, they are now expected to visit the office four times a week. This hasn’t necessarily been received well by the cast members but from an outside perspective it is definitely a positive change. Iger wants and is trying to bring a sense of normality back to the company, he sent out an email on March 1st, 2023 which announced that all hybrid cast members who work from home must make the change. After physically meeting with cast members, Iger was incredibly keen on making this change as soon as possible, he believes nothing can replace the creative and personal growth of a professional workplace. Working alongside your peers and having somewhere to call your own.
This change will most definitely be looked back on as a positive decision for the company and its employees. Although, being encouraged to go back to the office isn’t initially a positive change for cast members, in the long run this will transform the company an its relationships with employees. Disney pride themselves in being classic and traditional whilst also accepting change and growth. This positive decision is definitely encouraging the tradition of an office work environment, bringing cast members back to the office, asking them to interact with fellow workers and branch back out into the world after the pandemic.
Harnessing Intellectual Properties
Bob Iger has always been regarded as a CEO who cares about the company and he definitely does but be sure to remember Iger has been brought into the company to try and save it. Disney has been gradually loosing money over the period of Chapek and the pandemic, Iger has been asked back to remind Disney’s loyal fans that they are important to the company and any decisions he makes is for the good of the business and them. Iger is here to help equal Disney’s income and outcome and after knowing that this third change will begin to make a lot of sense.
IPs stand for intellectual properties, this term when used in regard to Disney relates to their media projects and films. Disney’s IPs are their original ideas, something in which they completely own and have control over. To try and save money for the company Bob Iger has announced Disney will be concentrating on their own IPs, creating sequels for stories which may not necessarily need one but help the company rely on viewers and expect a certain payoff from the final product. For example, it has been speculated we will be seeing a sequel to Zootopia, along with another Toy Story and Frozen. These films are all Disney IPs which cost them very little to make in relation to a new or unheard of story. Re-hashing already owned content and hoping the adoring and loving fans will continue to watch, which they most definitely will. Of course, we will be seeing a few ‘new’ and original Disney and Pixar stories (Wish, Elemental, Elio) but these are not as reliable as the already established stories which almost guarantee a positive income for the company.
Although this change may seem a little lazy to Disney lovers, it is undoubtably intelligent and positive. This decision still continues to give the audiences content to indulge in. Revisiting classic stories and using reliable characters to help regain money profits from the massive Disney + loss of 2022. Harnessing their own intellectual properties and using this to create new content whilst also regaining profits for the company is an interesting and hopefully extremely positive idea for Disney overall.
Conclusion
Bob Iger is a fascinating character who brings a nostalgic and classic sense of safety for Disney fans and lovers. He is here to make the company money but he is also here to hopefully right the wrongs made after he left. The changes discussed in this article give a little insight into Iger’s plans and the hopes for Disney in the coming months and years. After announcing these improvements, Iger is finally showing Disney guests that their complaints have been heard. Disney still has a long road ahead of them when mending the relationship with their park guests but it does appear to look like Iger is taking the right steps to bring Disney back to the way it was.
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