So about Bob Chapek…
May I have your attention, please? May I have your attention, please? Will the real Bob please stand up? Bob Chapek, no, wait, Bob Iger.. wait, did I get that right? Yep, I did! Two and half years into his tenure Bob Chapek is out already, and Bob Iger is back.
This, all of a sudden, change has thrown me a funny wrench. I had already started drafting what I wanted to put out there about Bob Chapek, what he had done so far, and what I thought he could do better (and let’s be honest, this was not a short list). However, now none of that really matters because he is out. So with that being said, I will leave just one note about Chapek before I jump into what I think Iger needs to do since he is back. Chapek, to me, was what Disney would have been, having been run by Roy without Walt. All numbers and no fun (creativity, innovation, other similar words, etc., you get the picture). If you want the real newsy stuff (which I am not), check out this article.
OK, so Iger then. I was a fan of Iger during his tenure. Some people had issues with him and with people he has in charge or locations for studio productions; however, the concept of a perfect human or CEO, does not exist. He had great vision and got us MCU and Star Wars under one umbrella. He also got FOX, which I think is a good place to start… Chapek basically didn’t do anything with the FOX franchise except, you know, pay down debt. I hope that whatever Iger had in his brain, he lays out for the board and whomever he chooses as his successor. I assume there was more to the purchase than just getting the Mutants into the MCU.
Parks..parks, parks, parks… This is where I have high hopes for the next two years and that whoever Iger picks understands the value and importance of the parks. Disney guests, at the moment, are less than thrilled with what is going on with the parks, between price increases, no annual passes, and of course, rides breaking down left and right (this actually did happen to me when we went to Disneyland in October). The parks are the money maker for Disney, and Disney has competition with Universal opening its new park in 2025. They need to invest back into parks, helping existing rides function properly, getting rid of the reservation system, and figuring out how to get some new IP into the parks. When I say new IP, I do not mean what they are doing to Splash Mountain, an existing IP overlay on a current ride. What I mean is more like Tron or Mickey and Minne’s Runaway Train. New rides with new experiences create new memories. I don’t think the prices will go down, but if you pump some money in, it may at least feel more appropriate. OK, end the park rant.
Lastly, there is Disney+. This was Iger’s to start with, and I think it has legs; I watch it all the time. However, I think Iger could go more the route of Apple or Amazon and focus on producing a smaller number of high-quality shows for the service. Let the rest be the other content they own to fill up the year. Like Apple and Amazon, it allows Disney to focus on getting the primary sources of revenue from Parks and the Studios and then have smaller sources from the streaming branch. Just a quick note, as of writing this, the Hulu deal isn’t done yet; if that does, I think Disney and Iger need to figure out a one-app solution.
Ok, so wrapping up… Iger is back in, and he needs to do a lot with the parks, pull back on the Disney+ spending a bit, and figure out who will take his place when his two years are up. Good Luck, Iger!!