Disney CEO stops chasing subscribers

Disney wants to focus less on chasing subscribers in the future. Instead, CEO Bob Iger announced that he wanted to increase the company’s profitability. Above all, the organization should be redesigned for this purpose. Despite the new course, Iger wants to maintain the austerity measures of his predecessor.

After returning to his post from retirement, former Disney CEO Robert “Bob” Iger recently announced that making the company’s streaming business profitable is his top priority. That comes from a report by the news agency Reuters out.

Disney no longer wants to hunt subscribers

In a town hall meeting at the company’s Burbank, California, site, Iger said Wall Street investors are also now more focused on the streaming service’s yield. The increase in subscribers is initially on the back burner.

The measure of success has changed. Instead of chasing customers with aggressive marketing and content spending, Disney needs to start chasing profitability, Iger said.

Iger wants to change organizational structure at Disney

The group joins a number of media companies trying to expand their streaming services without sacrificing their film or television businesses. According to a report by CNBC Iger plans to redesign the organizational structure.

No home office for employees anymore?

This also includes the way employees work. Iger reportedly doesn’t want to make any dramatic announcements about Disney’s work-from-home policies. However, he is of the opinion that creative companies work best when the employees are together personally.

In addition, Disney is not planning any major acquisitions in the near future. Iger is satisfied with the current status.

Disney presented disappointing quarterly figures

Bob Chapek surprisingly resigned from his post as CEO recently. To fill the position, longtime CEO Iger has returned from retirement.

The board asked him to set the strategic direction for renewed growth. Recently, the company had to struggle with disappointing quarterly figures and relatively high costs. Additionally, Disney stock is down nearly 38 percent in 2022.

Iger maintains hiring freeze

Shortly before his resignation, ex-CEO Chapek announced austerity measures including layoffs and a hiring freeze. Iger wants to keep it while he reviews the company’s cost structure.

In order to achieve profitability, Disney needs to take a very, very close look at its cost structure across all of its businesses, the CEO also said.

Iger is responsible for the group’s comprehensive entry into the streaming business and the launch of Disney Plus.

Also interesting: