Disney’s CEO Bob Iger is Positive about the Future of the Walt Disney Company in a New Interview

Disney’s CEO, Bob Iger had an interview with CNBC this morning. See what he has to say about the future of the Disney parks and his thoughts about the company.

Bob Iger

Disney’s CEO, Bob Iger returned to the Walt Disney Company in November 2022. After his return was announced, he shared that he expected to be with the company for two years because that was what his contract said. Many probably felt this was short term, but his contract has been extended.

The Walt Disney Company announced that his contract has been extended through December 31, 2026, after voting unanimously. The Board of Directors noted that Iger’s extension provides continuity of leadership during the company’s ongoing transformation, and allows more time to execute a transition plan for CEO succession, which remains a priority for the Board.

Disney Parks and Resorts

Today, Iger spoke with CNBC about the Walt Disney Company. He shared his thoughts about the future of the company and other topics such as theme parks and entertainment.

He began the interview by saying that he has “huge optimism” for the company’s theme parks and resorts and also shared that there are opportunities to speed up growth in that segment.

Disney has recently made a lot of news relating to park attendance, specifically attendance on the recent 4th of July holiday. Crowds were much lower than expected in recent years. Historically, the holiday is known to have high crowds and attendance, but this was not the case for 2023.

When asked about this topic that was mentioned in a Wall Street Journal article, he said, “The article was “not accurate” and “focused on crowds on July 4th.” When asked about the recent lawsuit with Florida governor, DeSantis, Iger shared that it has had no impact on crowds at Walt Disney World.

Pricing

What about pricing at the theme parks? We have seen prices increase for just about everything. Tickets, dining, Disney Genie+ and even Annual Passes have all seen huge price increases within the past couple of years at all of their theme parks.

Iger shared the following thoughts on pricing for Disney, “pricing at theme parks is not a concern”. He continued to share that he has no long-term concerns about the parks business.

Entertainment

Entertainment has also seemed to take a hit within the company. Disney saw a few flops with motion pictures that have been released, including Strange World and Elemental, though this film recently had a huge turnaround at the Box Office.

“There have been some disappointments. We would have liked some of our recent releases to perform better,”

Disney CEO, Robert Iger

Iger even went on to say that “There have been some creative misses.” and that Pixar films going straight to Disney+ made some feel lose the urgency of seeing any new Pixar films in the theater.

Disney’s next fiscal third quarter earnings call is scheduled for August 9th. Stay tuned for any more updates or news for Disney!

Did you watch the interview with Disney’s CEO, Bob Iger on CNBC? What are your thoughts on it? Let us know in the comments below or share this post with a friend.

Source: CNBC