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Bob Iger’s Return to Disney Shocks a Discontented Kingdom


But Disney has a problem that competitors don’t, which was Chapek’s biggest move during his time as chief executive.

In 2020, Mr Chapek restructured Disney to prioritize the company’s streaming services (Disney+, Hulu and ESPN+). He removed profit and loss liability from Disney TV and movie studio executives, and gave it to a patron, Kareem Danielwho is named the president of a new partsDisney Entertainment and Media Distribution.

The loss of that playing field — along with control over when and how movies and shows are released — upset longtime Disney executives, including Alan Bergman, president of Disney Studios Content. . The situation became more tense as Daniel had little experience in the broad field he was assigned to oversee. Chapek has repeatedly asserted that his deeply unpopular reorganization is in fact the opposite of the “100% agreement” of Disney executives.

Mr. Daniel’s division notably contributed $1.5 billion to a “peak” streaming loss in the recent quarter, up from $630 million a year earlier, prompting investors to surprised.

Mr. Iger fired Mr. Daniel on Monday. In a note to employees, Mr. Iger said a new corporate structure is underway that “empowers our creative teams and streamlines costs.”

Mr. Iger faces other challenges.

A frenzied competition has raged around sports broadcasting rights, with Apple, Amazon and others pushing up prices, which has hurt ESPN’s profits. Sports betting is seen by some investors as a new form of streaming — a total solution for rapid growth — but fully accepting that business could damage the family-friendly Disney brand. family.

Cartoons, Disney’s heartbeat, start to struggle, with Pixar’s “Lightyear” bombing in June and “Strange World” is expected to disappoint at the Thanksgiving box office.

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