News Bob Iger outlines the need to transform the Walt Disney Company resulting in 7000 job losses and $5.5 billion in cost savings

[networkpro]

At the risk of sounding "political" this is everything that is currently wrong w/ this country.

But political banter is highly discouraged in these forums. Your available solutions are to work within the system or outside the system to attempt change with the realization that your opinion is just one of millions.

 

[Lilofan]

actively tried to prevent black and female led films from marvel
pushed Inhumans since FOX had Xmen rights
tried a hostile takeover of Disney board
all around general di(c)head

Getting rid of your enemies is nothing new in the corporate world.

 

[BaconPancakes]

But political banter is highly discouraged in these forums. Your available solutions are to work within the system or outside the system to attempt change with the realization that your opinion is just one of millions.

Meh I'm smart enough to know that my opinion won't change a damn thing. I'm anxiously awaiting until AGI destroys capitalism in the meantime...

 

[asianway]

actively tried to prevent black and female led films from marvel
pushed Inhumans since FOX had Xmen rights
tried a hostile takeover of Disney board
all around general di(c)head

Inhumans could be awesome if done well

 

[networkpro]

Meh I'm smart enough to know that my opinion won't change a damn thing. I'm anxiously awaiting until AGI destroys capitalism in the meantime...

Can I watch you holding your breath?

 

[MisterPenguin]

Ike Perlmutter is out -

“Isaac Perlmutter, the famously frugal Marvel Entertainment chairman who unsuccessfully worked to shake up the Walt Disney Company’s board in the past year, has been laid off as part of a cost-cutting campaign.

Disney confirmed the move. Mr. Perlmutter, 80, was told by phone on Wednesday that Marvel Entertainment, a small division centered on consumer products and run separately from Marvel Studios, was redundant and would be folded into larger Disney business units, according to two Disney executives briefed on the matter, who spoke on the condition of anonymity to discuss a sensitive personnel matter.”

Full article below.

https://www.nytimes.com/2023/03/29/business/media/disney-marvel-ike-perlmutter.html

Yay! About time.

And Disney did it in an air-tight way by nixing his division.

When you eliminate a job position, and that's the cause for letting go of the people who worked it, it becomes exceedingly difficult for those who were let go to make claims they were discriminated against because of age or point of view or personal politics.

And they couldn't move him to some other comparable job in TWDC with all the other executive lay-offs.

Disney didn't need to lay out all his failures and poor performance in order to fire him. Which, they could have if they wanted to. When it came to movies and TV for Marvel, Perlmutter didn't have a good record.

Also, I never understood how Marvel could still have its own "Board" of which Perlmutter was president of (and then just a member of). Some internet searching never gave me a satisfactory answer to that.

Perlmutter played the Game of Thrones and lost.

 

[BaconPancakes]

Can I watch you holding your breath?

K

 

[Sirwalterraleigh]

Perlmutter played the Game of Thrones and lost.

Currently every Disney fan on the planet is losing…

…some are just really late to the mental cupcake party to celebrate it

 

[networkpro]

Currently every Disney fan on the planet is losing…

…some are just really late to the mental cupcake party to celebrate it

 

[el_super]

I don't have a dog in this hunt yet but I am curious just what they expect current or new employees to do to make the public go back to movie theaters.

Yeah me too. If the Marvel movies are just destined to bring in less money, they can cut back on costs. Lower the number of VX effects and go back to basics. They can still make money for years that way. It's not a problem.

Theaters will either recover over the long term or they won't. If they don't, and the longer term trend is to shift toward streaming, they are poised well to go that way.

 

[TalkingHead]

What in the world is an 80 year old still doing in the workforce?

Based on his age, gearing up for a presidential campaign?

 

[Ayla]

My Dad was 82 when he retired. People in the 80's still working is because... well... they love their job.

Perlmutter is worth upwards of $4 billion. He continues to work to hoard money, not because he loves the job.

 

[BaconPancakes]

Based on his age, gearing up for a presidential campaign?

Touche

 

[Sirwalterraleigh]

View attachment 707152

Watch it play, son

…I’ll be behind the picket line above you if you need me

 

[Sirwalterraleigh]

Theaters will either recover over the long term or they won't. If they don't, and the longer term trend is to shift toward streaming, they are poised well to go that way.

No one in business and believed theaters will survive. And it was that way long before Covid.

…lots of factors there

 

[BaconPancakes]

Why go to a theater to pay $100 for tickets and food, when you can enjoy the same experience for much cheaper in the comfort of your own home? It's a no brainer why the industry is dying.

Plus pausing the movie to take a pee is the biggest advantage.

 

[Sirwalterraleigh]

Why go to a theater to pay $100 for tickets and food, when you can enjoy the same experience for much cheaper in the comfort of your own home? It's a no brainer why the industry is dying.

I think it’s more than that…

But fundamentally you are correct.

 

[Sorcerer Mickey]

No one in business and believed theaters will survive. And it was that way long before Covid.

…lots of factors there

Theaters have been "dying" since 2003 right after attendance peaked in 2002.

 

[BaconPancakes]

I think it’s more than that…

But fundamentally you are correct.

Oh absolutely way more factors, but that's just my personal reason for not going to the movie theater as much.

 

[KeithVH]

I'm happy to go to the movies and pay the price, as long as the show is worth it. This was easy back in the day. Going to see Midway or Earthquake premiers with Sensurround (tuned subwoofers to make you feel the explosions). Seeing Jurassic Park for the first time on the big screen (and being terribly disappointed when it came on TV). Stuff like that. OTOH, I've waited to see something show up on TV 'cause I knew after watching a trailer I wouldn't want to pay theater money (way too many to list).

But I think this talk of theaters failing is premature. Remember vinyl? Not saying it's the best business investment right now but when a good movie comes along, the big screen will always be better. Now, whether Disney can address their issues to take advantage of theatrical releases is another story.