Iger Stepping Down, Chapek Replaces

[Nick]

I'm not 100% convinced Chapek's contract is getting renewed. Disney can find another stooge with Iger's "guidance" to lead the way forward.

The board just gave a vote of approval though, so it's looking likely i'd say.

Disney Board Backs CEO Bob Chapek Even as Contract Remains Big Question

"In this important time of business growth and transformation, we are committed to keeping Disney on the successful path it is on today," Disney board chair Susan Arnold wrote.

www.hollywoodreporter.com

 

[Parkscope Joe]

More like Catherine Powell, but yeah.

Problem is, for as “poorly as the company is being run” WDW is poised to make ungodly amounts of money this year, literally making 2019 look like peanuts, and that’s what the board cares about. Hopefully it’s only a two year extension so when the hangover from whatever this is being called hits, revenge travel or something, the board will decide to move on.

If someone can’t get a job where they’re both way happier and also making a ton more money than Mickey is willing to pay with the way the job market is right now, Chapek ain’t the problem.

I do wonder how long the good times will roll, you can't keep raising prices and adding upcharges forever. Can't keep adding Genie+ programs and such.

As for jobs, I'm talking in a more broad sense. You can still be satisfied and compensated well and still be ashamed with the news and such. You can still believe in what Disney stands for yet be momentarily disillusioned. "Don't like it quit" is pretty simplistic.

The board just gave a vote of approval though, so it's looking likely i'd say.

Disney Board Backs CEO Bob Chapek Even as Contract Remains Big Question

"In this important time of business growth and transformation, we are committed to keeping Disney on the successful path it is on today," Disney board chair Susan Arnold wrote.

www.hollywoodreporter.com

I don't think this means much, the board will say they back him until they don't. Activision's board said they backed Bobby Kotick even as they were looking to sell to Microsoft and Bobby would leave.

 

[Mad Dog]

The dreaded "Vote of Confidence".....especially for sports coaches and managers. :grin: .....Seriously though, I don't see Disney axing Chapek in the very near term. But I don't think he'll be there long term like Iger was.

 

[shiekra38]

Chapek's numbers are good

We'll see how long they last with inflation and people choosing essentials over non, but I don't think that's going to last longer than '23

Disney's strangehold on the American and International psyche is still alive and well

But we all know how quickly things can change

I do wonder if Chapek will be looking towards a Josh D'Amaro type to take over down the road

 

[tyro]

As much I hate Chapek, If Disney + ends up winning the streaming wars and actually proves it to be a viable and profitable business, he will stay in power for a long time. Disney + is the future of their cash flow, not the parks in the stockholders eyes.

 

[Nick]

As much I hate Chapek, If Disney + ends up winning the streaming wars and actually proves it to be a viable and profitable business, he will stay in power for a long time. Disney + is the future of their cash flow, not the parks in the stockholders eyes.

Disney+ is about to lose a decent amount of subscribers in India though. Likely millions headed off of Disney+ to go to Viacom18, Paramount's service in India.

The reason behind this is that Disney inherited Cricket broadcasting rights when they bought Fox and the rights were just up for renewal and Disney lost out in the bidding war to Viacom 18. Cricket is extremely popular in India and many people only subscribe to Disney+ to watch the sport.

The positive in that is they now don't have to pay the extraordinarily expensive rights for Cricket for that to be the only thing people are watching on Disney+. The negative is that Wall Street is going to freak the hell out if there's any subscriber loss (which i'm not exactly sure will happen since they've launched so many places over the past month, but you never know).

 

[tyro]

Overall, I think it’s almost expected for Disney + to

Disney+ is about to lose a decent amount of subscribers in India though. Likely millions headed off of Disney+ to go to Viacom18, Paramount's service in India.

The reason behind this is that Disney inherited Cricket broadcasting rights when they bought Fox and the rights were just up for renewal and Disney lost out in the bidding war to Viacom 18. Cricket is extremely popular in India and many people only subscribe to Disney+ to watch the sport.

The positive in that is they now don't have to pay the extraordinarily expensive rights for Cricket for that to be the only thing people are watching on Disney+. The negative is that Wall Street is going to freak the hell out if there's any subscriber loss (which i'm not exactly sure will happen since they've launched so many places over the past month, but you never know).

I think it’s almost expected or acceptable for Disney Plus to lose subscribers, thanks for Netflix earlier this year, however it needs to be a very small amount lost in comparison to Netflix.

Yes international markets are important, but I’m sure there is a way for Disney to take out the India markets when they report the numbers to hide the losses somehow, almost like a US is up 16% world wide is down 2% and highlight how those customers lost were not actually profitable.

 

[quinnmac000]

Disney+ is about to lose a decent amount of subscribers in India though. Likely millions headed off of Disney+ to go to Viacom18, Paramount's service in India.

The reason behind this is that Disney inherited Cricket broadcasting rights when they bought Fox and the rights were just up for renewal and Disney lost out in the bidding war to Viacom 18. Cricket is extremely popular in India and many people only subscribe to Disney+ to watch the sport.

The positive in that is they now don't have to pay the extraordinarily expensive rights for Cricket for that to be the only thing people are watching on Disney+. The negative is that Wall Street is going to freak the hell out if there's any subscriber loss (which i'm not exactly sure will happen since they've launched so many places over the past month, but you never know).

India is just a numbers game....Disney+ in India is also like 2 dollars USD to access all that content. India is a number game not a money making game.

 

[MrBlonde]

Embattled Disney CEO Bob Chapek Gets Contract Extension

Disney's board has voted to extend Bob Chapek's contract by three years.

variety.com

3 more years of Chapek as they extended his contract. I hope they get rid of him afterwards because the only thing saving him is financials.

 

[tielo]

Embattled Disney CEO Bob Chapek Gets Contract Extension

Disney's board has voted to extend Bob Chapek's contract by three years.

variety.com

3 more years of Chapek as they extended his contract. I hope they get rid of him afterwards because the only thing saving him is financials.

At the end of the day even the investors seem to think this is a bad idea.
So I guess the other good news is that Kathleen Kennedy keeps on running Lucasfilm (in the ground).

 

[rageofthegods]

Expected this, but it doesn't make it any less disappointing.

 

[queenmetroid]

I've said this many times before, but for the most part, we are to blame for Chapek (and I'll be the first to point the finger at myself).

Do you have Disney+? I do.
Do you have a AP Magic Key to one or more parks? I do.
Do you see Disney movies in theaters? I do. (Well, technically former Fox content, but still.)

I dislike Chapek, but I haven't done anything to change it. Disney has proven that they are functionally immune from criticism or backlash at this point because people consume their content regardless of their actions. It took an Act of God (the pandemic) to even threaten them. Even a string of box office failures probably wouldn't really course correct because they'd have to misfire in the MCU, Star Wars, Disney Studios, Fox, and Pixar.

So while I'm disappointed, I have no right to be.

 

[Jerroddragon]

I've said this many times before, but for the most part, we are to blame for Chapek (and I'll be the first to point the finger at myself).

Do you have Disney+? I do.
Do you have a AP Magic Key to one or more parks? I do.
Do you see Disney movies in theaters? I do. (Well, technically former Fox content, but still.)

I dislike Chapek, but I haven't done anything to change it. Disney has proven that they are functionally immune from criticism or backlash at this point because people consume their content regardless of their actions. It took an Act of God (the pandemic) to even threaten them. Even a string of box office failures probably wouldn't really course correct because they'd have to misfire in the MCU, Star Wars, Disney Studios, Fox, and Pixar.

So while I'm disappointed, I have no right to be.

Agreed

The parks are a mess but everyone keeps going, they have zero reasons to keep rides working well if you will show up either way

 

[shiekra38]

Agreed

The parks are a mess but everyone keeps going, they have zero reasons to keep rides working well if you will show up either way

If only they had a ton of overpayed "presidents" and "chairpeople" over the parks division that could help out

 

[Jerroddragon]

If only they had a ton of overpayed "presidents" and "chairpeople" over the parks division that could help out

But why do it?

sadly when you are top Dog people just do what and people pay
Literally people are going on those stupid star war’s “cruises” and telling people they liked it That’s it, Game over.

to me the parks are packed and people are liking the over priced Star Wars hotel, basically they can go as cheap as they want and no one cares

 

[tielo]

The experiment continue, how far can they squeeze the quality and quantity of the guest experiences while raising the prices. Probably until a point be company is beyond saving, love it!

 

[Jerroddragon]

The experiment continue, how far can they squeeze the quality and quantity of the guest experiences while raising the prices. Probably until a point be company is beyond saving, love it!

Disney is too old and has too much nostalgia for that to ever happen

Could it grow smaller? Sure but they literally have theme parks with millions of people who love them and Star Wars, marvel, Pixar and classic Disney.

With Disney plus so cheap as well they will continue to gain more fans and almost never be able to die at this point

 

[HandsomePete]

The company boxed itself into a corner when it hit a point where the two internal candidates to replace Iger were Chapek and Kevin Mayer - the latter being smarter but an ***hole with no parks experience and the former being clumsy but checked the experience boxes.

The reality is that it’s a mess of a company to run, so it’s really hard to find someone who isn’t going to take an entire three-year contract to get up to speed. Maybe Spence, grasping at straws there, but it’s really outgrown having a creative at the top.

 

[Nick]

 

[Parkscope Joe]

I'll go one step further: the failure of succession planning for such a large company is an abject failure of the BoD and Iger. From delaying his retirement time and time again, to letting go nearly half a dozen replacements, and then to think he'll be able to play in the sandbox when Chapek gets the blame. It's INSANE.

I do think though that there are a lot of publications going after Chapek because he isn't playing the game like Iger did. He isn't schmoozing or playing Hollywood, and I think these articles show it. What I worry about is the stuff they're talking about less - internal fissures, Yes Men, a creative drain, and customer frustration.