News Chapek FIRED, Iger New CEO

[Sirwalterraleigh]

I think Iger was a good-to-excellent CEO for the Disney corporation. I don't think he was an especially good CEO for Disney theme parks.

Those are two very separate things. Since this is essentially a theme park board, when people are down on Iger I assume they're solely focused on the parks.

Good point

??? The biggest price increases in the companies history were mid-Iger era. Recent %increases for tickets and hotels have been downright skimpy compared to those from ~10 years ago.

Another excellent point

That’s fair but I think he was a much better CEO for the parks than the average person does. He clearly by the end of his tenure though had developed a mentality of cutting the small things to funnel more money to big things, and I don’t think that is good. Chapek has doubled down on that.

That’s because he started worrying about his “legacy”…the parks are the most identifiable longterm accolade for a Disney ceo…

some just realize it sooner than others.

Where is the Walt Disney and his vision and leadership that made this a magical place? Disney may have lost that never to be recovered again.

That died in the 1980s…when companies stopped feeling the need to kiss your butt for money you gave them long ago

 

[Sirwalterraleigh]

The best development for parks would be if they were taken private. Then “break even” to rich men that don’t need any more would allow for near unlimited Capital to build and invest

 

[GimpYancIent]

While prices rose under Iger, he was smart enough to know not to push them like they have done recently. Chapek took the late investment into WDW and ran with it.

it’s a shame Iger went with Shanghai Disneyland rather than further investment in the existing parks but hey, he wanted something that was ‘his’

B.I. believed and probably still does that SD was a brilliant move. Disgusting.

 

[HauntedPirate]

One number: An AP was $434 in late 2006 (second price increase that year) after Iger became CEO. $654 in 2015, when $lappie became head of P&R. $1300 in 2021. No additional benefits.

 

[Sirwalterraleigh]

One number: An AP was $434 in late 2006 (second price increase that year) after Iger became CEO. $654 in 2015, when $lappie became head of P&R. $1300 in 2021. No additional benefits.

Less…If you’re honest.

 

[JoeCamel]

OLC’s contract terms with Disney and their corporate culture being rooted in 60s/70s Disney management philosophies is why that resort is the way it is.

They’re reportedly not interested in expanding much beyond what they have in Urayasu.

They should franchise their management philosophy, a couple of theme parks could benefit if they bought

 

[HauntedPirate]

Less…If you’re honest.

I didn’t want to be negative.

 

[Cesar R M]

There is such thing as a "poor use of money". I can spend thousands on furniture and appliances, but that doesn't matter much if I didn't spend the money for a house to put it in.

Technically, almost every purchase of Iger has given Disney a ton of money. Marvel for example.
That they destroyed afterwards its another thing..

 

[Cesar R M]

I guess I just don’t see that.

DCA = money well spent.
Galaxy’s edge(s) = money well spent.
Pandora = money well spent.
Shanghai = money well spent
DL Paris improvements = money well spent
Hong Kong DL improvements = money well spent

Not saying I’d have done everything the same but it’s not like he’s leaving us with bad parks like Eisner did with DCA, HS, AK, DL Paris, and HKDL that all needed billion dollar investments by the next CEO to survive. Epcot is the only park that will need major investments and is already a work in progress

Arent some of these improvements not even in the hands of Disneys in the first place? and more like the Oriental company or China's?

 

[MagicHappens1971]

Arent some of these improvements not even in the hands of Disneys in the first place? and more like the Oriental company or China's?

OLC only owns & operates Tokyo Disney Resort. Disney May not own the majority shares of HKDL or Shanghai, but they operate both resorts.

 

[GimpYancIent]

Arent some of these improvements not even in the hands of Disneys in the first place? and more like the Oriental company or China's?

As far as SD goes the Oriental Co. (i.e. the Chinese Gov.) exercises its majority shareholder of SD power strongly and liberally. Fair to say it's a Chinese government front company owned park with a Disney overlay.

 

[Sirwalterraleigh]

I didn’t want to be negative.

 

[Sirwalterraleigh]

Arent some of these improvements not even in the hands of Disneys in the first place? and more like the Oriental company or China's?

Practically speaking…the Japanese parks just use Disneys licensing and WDI…it’s a great arrangement for both.

the Chinese parks are in China…they aren’t really “told what to do”…it’s been in the news since 1948

 

[Sir_Cliff]

Eisner was already starting to change course by the time he left. Even Cars Land has its origins in the Eisner era.

I guess we'll never know whether things would have swung back around had he stayed. By the time he left, though, the company as a whole was looking quite shaky and having difficulty adapting to changing trends and new technology. What I did prefer about late-Eisner over Iger was that Eisner could be convinced to sign-off on an attraction or land if the idea seemed good even if it had no link to IP. Iger seemed reticent for them to build even attractions based on IPs if the IP didn't have high merchandising and sequel potential.

 

[Sirwalterraleigh]

I guess we'll never know whether things would have swung back around had he stayed. By the time he left, though, the company as a whole was looking quite shaky and having difficulty adapting to changing trends and new technology. What I did prefer about late-Eisner over Iger was that Eisner could be convinced to sign-off on an attraction or land if the idea seemed good even if it had no link to IP. Iger seemed reticent for them to build even attractions based on IPs if the IP didn't have high merchandising and sequel potential.

Eisner was there too long…that is without a doubt. He also was in a transition period as you described and didn’t know how to convert everything from brick and mortal to digital entertainment…no doubt.

but Bob did exactly what Eisner was taken out for: degrading the “soul” of the product and leaving it in management disarray.

 

[Sir_Cliff]

Eisner was there too long…that is without a doubt. He also was in a transition period as you described and didn’t know how to convert everything from brick and mortal to digital entertainment…no doubt.

but Bob did exactly what Eisner was taken out for: degrading the “soul” of the product and leaving it in management disarray.

I agree and it is curious that Disney found itself again in a situation where there was no obvious successor after that being a frequent complaint during the late-Eisner years. In terms of legacy, it was an interesting move getting out before being pushed and handing over to Chapek. If Chapek screws up, Iger comes out of the whole scenario looking like he just had too much faith in his successor's potential (he loves too much!) rather than an empire builder who drove out strong rivals.

As for how Iger left the company, part of me wonders whether he actually managed to turn Disney into one of the few traditional (public) entertainment companies that can weather late capitalism. Perhaps you have to either be so big and own everything that you become virtually indispensable to the entertainment landscape, or identify and occupy a particular niche and hope to hang on for the longterm. The rest may eventually be swallowed up or continue to function as an arm of larger companies, such as Apple or Amazon. Who knows, but it was striking that during the pandemic the parks and resorts could all shut down and cinemas closed for an extended period and the company kind of just marched on without any major crisis.

 

[RSoxNo1]

Less…If you’re honest.

At some point they included PhotoPass, that of course is now an additional $99.

 

[pdude81]

I agree and it is curious that Disney found itself again in a situation where there was no obvious successor after that being a frequent complaint during the late-Eisner years. In terms of legacy, it was an interesting move getting out before being pushed and handing over to Chapek. If Chapek screws up, Iger comes out of the whole scenario looking like he just had too much faith in his successor's potential (he loves too much!) rather than an empire builder who drove out strong rivals.

As for how Iger left the company, part of me wonders whether he actually managed to turn Disney into one of the few traditional (public) entertainment companies that can weather late capitalism. Perhaps you have to either be so big and own everything that you become virtually indispensable to the entertainment landscape, or identify and occupy a particular niche and hope to hang on for the longterm. The rest may eventually be swallowed up or continue to function as an arm of larger companies, such as Apple or Amazon. Who knows, but it was striking that during the pandemic the parks and resorts could all shut down and cinemas closed for an extended period and the company kind of just marched on without any major crisis.

They had very good timing on the launch of a family friendly streaming service before everybody got sent home for a year. Diversification is very important in your portfolio!

 

[Sirwalterraleigh]

At some point they included PhotoPass, that of course is now an additional $99.

For quite a while…

which is classic business “incentive” strategy…you throw in something with little actual cost for a perceived “value” to encourage repeat business

but no…not good enough for Bob

 

[HauntedPirate]

For quite a while…

which is classic business “incentive” strategy…you throw in something with little actual cost for a perceived “value” to encourage repeat business

but no…not good enough for Bob

Bob: “Must. Monetize. Everything. Nothing given away. Unprecedented demand!!!”