The Intelligence from The Economist Ploy story: a defenestration at Disney
Nov 22, 2022
Join Tom Wainwright, Technology and Media Editor for The Economist, as he unpacks Disney's corporate drama with Bob Chapek's ousting and Bob Iger's return. The conversation dives into the streaming wars, highlighting Disney's struggles against rivals like Paramount Plus and Peacock. Wainwright also explores the societal challenges faced by Zimbabwe's teen mothers seeking education amid stigmas and financial hurdles. Plus, fascinating insights into pigs' remarkable reconciliation behaviors reveal their intelligence and social dynamics!
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Chapek's Downfall and Iger's Return
- Disney CEO Bob Chapek was ousted after a series of missteps, including a dispute with Scarlett Johansson over streaming and a poorly handled political situation in Florida.
- His predecessor, Bob Iger, known for acquiring Star Wars and Marvel, has returned after a 15-year successful run.
Shifting Hollywood Economics
- Disney's struggles aren't solely due to leadership but reflect a larger shift in Hollywood economics, from theatrical and cable revenue to less profitable streaming.
- New competitors like Apple and Amazon, with vast budgets, further complicate the landscape.
The Streaming Wars and Consumer Choice
- Consumers benefit from the streaming wars, as they can easily switch between services to access specific content.
- This flexibility pressures studios to continually spend on content, making it challenging to achieve cable-era profitability.