Disney CEO Bob Iger to Focus on Streaming Profitability

Disney CEO Bob Iger stated on Monday that one of his top priorities was making the company’s streaming business more valuable.

One of Iger’s major achievements before stepping down in 2020 was directing the mass media giant’s priority to its streaming service.

In his return, the reinstated CEO recognized the change in the market and instead planned to focus on achieving streaming earnings, not the subscription count.

This decision followed the recent investors’ opinion regarding the immense cost of pursuing subscription count.

Prior to the meeting, Iger declared his intention to restart the company’s organizational structure.

Then, he fired the chairman of Disney and Media and Entertainment Distribution, Kareem Daniel.

In light of Daniel’s retreat, Iger mentioned in the meeting that it would take time to implement the new structure.

However, he assured the staff that the he would rearrange with the cooperation of other executives.

Also, the CEO expects no major acquisition in the future as he is comfortable with Disney’s current assets.

Consequently, he denied the rumor regarding the potential Disney and Apple merger deal stating that it was just pure speculation.

Separately, Iger also plans to keep the hiring freeze, cost cuts, and layoffs while evaluating the company’s cost structure.

Bob Iger Addresses LGBTQ Issues

Furthermore, Iger tackled Disney’s LGBTQ issues, noting that inclusion and acceptance were part of the company’s storytelling core values.

During the meeting, he noted that they couldn’t lose the company’s storytelling values about acceptance, inclusion, and tolerance.

Besides, the CEO added that telling stories and trying to be a good citizen wasn’t political.

This statement came after Disney faced major criticisms for its handling of Florida’s Don’t Say Gay bill.

At that time, activists criticize former CEO Bob Chapek for his dull response.

Additionally, Disney received criticisms from anti-LGBTQ activists due to its inclusion of gay characters in animated films.