This magic moment netflix9/1/2023 ![]() ![]() But even Iger’s legacy is now in question as there’s no clear growth narrative ahead on how Disney aims to restore the magic to its kingdom. Unsurprisingly, shares are struggling over the last five months. Instead, Iger is now facing a troubled company that just laid off 7,000 employees, that is pulling programming from streaming services to save on costs and the animation business is no picnic with the latest Pixar movie “Elemental” being a financial flop with the lowest opening weekend gross since Toy Story debuted in 1995. Disney Plus was supposed to be Iger’s grand move prior to his departure. ![]() ![]() Disney Is No Longer The SameĬreative output is the lifeline of Disney and Iger’s leadership has always been all about content. After a disastrous two-year tenure of his successor, Iger is back for a second reign as CEO, but the Disney he came beck to is long the same: the legacy businesses are in decline, the streaming business is losing money and as a consequence, the share price has slumped. For almost two decades, Bob Iger was the 'King of Hollywood' as he transformed the legendary entertainment company with the game-changing acquisitions of Marvel, Pixar and Lucasfilm. The first half of year has been a colossal disappointment for those who hoped for a rebound from a rocky 2022, with a slowdown in streaming subscriptions.Įven the magic of the Walt Disney Company is fading. Legacy media companies are entering dark times as costs mount, Hollywood writers are still on strike and streaming king Netflix Inc (NASDAQ: NFLX) is making a comeback. ![]()
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