Bob Iger took over the role of Walt Disney Company (NYSE:DIS) CEO nearly one year ago. Since then, he watched the company have several setbacks, including its shares hitting nine-year lows.
Speaking at a recent event, Iger answered questions on a number of topics.
Iger on Box Office Bombs: Disney has had multiple movies underperform at the box office in 2023, which was one of the topics of discussion during Iger’s appearance at the NYT DealBook Summit 2023.
The 72-year-old CEO gave a reason why the recently released Marvel movie “The Marvels” may have come up short at the box office.
“The Marvels was shot during Covid, and there wasn’t enough supervision on set,” Iger said, as shared by The Verge.
Iger admitted that the increasing output for the Disney+ streaming platform was a “definite mistake.” It led to diluted quality for several franchises, he explained.
“We need to get more realistic,” Iger said of what theatrical movies will look like in the future with the rise of streaming viewership.
Iger also said the company may have made too many sequels. In the future, a sequel will only get greenlit if “we think the story that the creators want to tell is worth telling,” he said.
Iger on Elon Musk, Advertising on X: Disney was one of several companies to pull advertising on social media platform Twitter, now known as X. Iger shared his comments on the decision and Twitter owner Elon Musk Wednesday.
“I have a lot of respect for Elon and what he has accomplished,” Iger said, as shared by The Hollywood Reporter. “We know that Elon is larger than life in many respects, and that his name is very much connected to the companies he founded or owns.”
Iger said that it is “perfectly reasonable” for CEOs to share their thoughts and opinions on world events, but it can sometimes be a negative.
“By him taking the position he took in a public manner, we felt that the association was not necessarily a positive one for us.”
Iger said he doesn’t know how long the advertising ban on Twitter will last.
Walking Back on Asset Sales: Iger previously shared that Disney could look to sell off some assets to focus on growth initiatives. Those comments appeared to be walked back at Wednesday’s event, as reported by Deadline.
Disney’s linear TV networks are “not for sale,” Iger insists. The claim seemingly puts…
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