Bob Iger, CEO of Disney, recently expressed that the company has overly emphasized messaging in its movies, detracting from the quality of storytelling. This acknowledgement was part of a broader discussion at the New York Times DealBook Summit in New York City, where Iger spoke alongside NYT Columnist Andrew Ross Sorkin.
Iger emphasized the need for Disney to prioritize entertainment over messaging. He noted that during his absence in 2022, the company’s focus shifted too much towards messaging. Iger, who oversaw creative aspects in 2020 and 2021, plans to reduce the number of Disney films to enhance their quality. He stressed that engaging storytelling should be Disney’s foremost goal, a sentiment he has reiterated to his creative teams and partners.
Disney’s storytelling approach, which has historically blended positive morals, faced criticism from Republican politicians like Florida Gov. Ron DeSantis and Sen. Ted Cruz, particularly for the inclusion of LGBTQ+ characters in recent movies like “Lightyear,” “Strange World,” and “Elemental.” Despite these controversies, Iger is committed to returning Disney to its roots of captivating storytelling.
In response to recent underperformances at the box office, notably with films like “The Marvels” and “Wish,” Disney is under pressure to improve its business and increase its stock value. This situation has prompted Nelson Peltz’s Trian Fund Management to propose new directors to Disney’s board, signaling a lack of investor confidence and the need for strategic adjustments.
As part of these changes, Disney has introduced two new board members, James Gorman, former CEO of Morgan Stanley, and Jeremy Darroch, former CEO of Sky. This move comes as Disney prepares for a possible proxy battle, with board member Francis A. deSouza not seeking re-election at the upcoming annual meeting.
See first source: CNBC
FAQ
Q: What did Bob Iger say about Disney’s movies?
A: Bob Iger, Disney’s CEO, acknowledged that the company has been too focused on messaging in its movies, which has affected the quality of storytelling.
Q: Where did Iger discuss this issue?
A: Iger discussed this during the New York Times DealBook Summit in New York City, speaking alongside NYT Columnist Andrew Ross Sorkin.
Q: What is Disney’s new priority under Iger’s leadership?
A: Under Iger’s leadership, Disney is prioritizing entertainment and engaging storytelling over messaging in its movies.
Q: Did Iger mention any specific changes in Disney’s film production?
A: Yes, Iger plans to reduce the number of films Disney produces to focus on improving their quality.
Q: How did political figures react to Disney’s storytelling approach?
A: Disney faced criticism from Republican politicians like Florida Gov. Ron DeSantis and Sen. Ted Cruz for including LGBTQ+ characters in recent movies such as “Lightyear,” “Strange World,” and “Elemental.”
Q: What are Disney’s current business challenges?
A: Disney is facing business challenges due to underperforming box office results and a need to improve its stock value.
Q: What actions has Trian Fund Management taken regarding Disney?
A: Nelson Peltz’s Trian Fund Management has proposed nominating new directors to Disney’s board in response to recent business challenges and a perceived need for strategic adjustments.
Q: Who are the new board members recently named by Disney?
A: Disney named James Gorman, former CEO of Morgan Stanley, and Jeremy Darroch, former CEO of Sky, as new board members.
Q: Is there a change in Disney’s board composition for the upcoming annual meeting?
A: Yes, current board member Francis A. deSouza will not seek re-election at Disney’s upcoming annual meeting.
Featured Image Credit: Photo by Younho Choo; Unsplash – Thank you!
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