“Keys to the Kingdom”: What Bob Iger’s Return means for the Disney Company
by Bella O.
Château de la Belle au Bois Dormant, the castle in Disneyland Paris (Pixabay)
Picture this: the year is 2004, and after almost losing Euro Disneyland (now known as Disneyland Paris Resort) to the French government, building three cheaply made “half-day” parks, and a failing film studio, the Disney Company was at a rough spot.
Sounds too crazy to be true, right? In late 2004, after holding their annual company meeting, 43% of Disney shareholders voted CEO at the time Michael Eisner out of his position. While anyone would have found such a harsh way to end their career and even embarrassing, Michael Eisner accepted and retired in September of 2004 after a long and stressful career. Now there was the question of who would fill in his shoes. The Disney Company was losing money, Pixar was looking for a new film distributor since their deal with Disney had ended, and had made three theme parks in a row that some believed were made to make money, not spread joy and happiness as all of their previous past parks had. So, who would they choose for the next Disney CEO? On March 13th, 2005, the Disney Company announced that former chairman and president of Walt Disney International Robert Allen Iger would be the new Disney CEO, though Michael Eisner was still considered to be the CEO until September of 2005. Over the next few years, Bob Iger would help to rebuild their half-day parks, buy Pixar, and help the company get back to where it had been before going overboard with Eisner. For a while, things looked good for the Disney company. Then, in 2020, Iger announced his retirement, and the board of directors made Bob Chapek, a chairman for Disney Parks, Experiences, and Products, the new CEO. How would Chapek change the Disney Company: for the better, or for the worse?
In June of 2022, Bob Chapek signed a contract that gave him a three-year extension as CEO of the Walt Disney Company. However, in November of 2022, Chapek was “kicked out” of the Walt Disney Company. He had done very little with the theme parks, but had messed with the movie studio. Over his two and a half years as CEO, Disney had released the live action version of the 1998 hit Mulan, the highly anticipated but overall disappointing Lightyear, and Encanto, just to name a few. Overall, these movies were discouraging, boring, or too odd to be taken seriously. While, yes, the CEO has a part in creating movies and working on the theme parks, it is important to note that Bob Chapek took over just as the Covid-19 pandemic had begun, and that he wasn’t the only person working on the movies. Most of the Disney Company's money comes from the parks, and at that time all of them were closed due to the pandemic. It could be possible that they released these movies because they were worried about the pandemic, or how much money they’d lose because of the closed theme parks, though we don’t know for sure. What we do know, though, is that on November 20th, 2022, Bob Chapek was replaced by his previous boss, Bob Iger, who took back his place as CEO of the Disney Company. But even though Chapek was gone, Iger was in the same place he’d been in before. The company, mainly the film studio, needed fixing. Will Iger fix it again?
Iger is known to some as a “buyer”, others as a money hungry CEO, and to others as the savior of the company. Honestly, all of these are true. As I said before, Iger purchased Pixar, but he didn’t stop there. Throughout the years he’s also bought Lucasfilm, Marvel, 20th Century Studios, and the rights to the movie Avatar. Essentially, he’s bought the competition. Bob Iger also built two theme parks, Hong Kong Disneyland and Shanghai Disney Resort, Disney’s newest theme park, and added new themed lands into already existing theme parks including Galaxy’s Edge in Disneyland and Walt Disney World’s Hollywood Studios (previously known as Disney’s MGM Studios). As for Bob Iger being money hungry, he apparently only raises the prices of tickets and souvenirs when he absolutely needs to. In a recent interview, he said that he wanted to make Disneyland an experience for all guests, locals or tourists, though some think otherwise. Some programs, such as Genie+ and Lightning Lane, seem more for tourists than anyone else, and the prices of tickets are slowly rising, too. Even if he is money hungry, like Chapek apparently was, it can be debated that it’s evened out by the fact that he did most likely save the company in the early 2000’s.
So, what steps are Iger taking to rebuild the company again? Well, the main thing to fix is the film studio. With the parks reopened now, money’s not much of an issue at the moment, however, less and less people are subscribing to Disney+, Disney’s streaming service. Iger is looking to raise popularity and stop people from subscribing to watch the latest season of a show or watch a new Disney movie. Instead, he hopes to make long time subscribers by advertising the newest shows and movies, as well as some older movies that were popular. Recently, they aired the first episode of season three of The Mandalorian on a few different channels available on cable. By doing this, Iger hopes that more people will subscribe to watch the rest of the show, and continue keeping the streaming service to watch older movies and shows, as well as new releases.
The Disney+ Logo
It seems that just having Iger as CEO is getting the filmmaker's creative gears turning. Recently, Iger announced the sequels to three blockbuster movies, Zootopia, Frozen, and the ever popular Toy Story. There’s not much information on these three sequels so far since they were just announced a little while ago, though we should be able to expect more information as their release dates get closer.
While Iger did reluctantly agree to return to his position as CEO of the company, we shouldn’t be expecting him to stay with the company much longer. At the age of seventy-two, it’s not hard to see why he retired in the first place. Being the CEO of any company would be stressful. Now think about how big the Disney Company is, and how large their legacy is. Disney is popular worldwide, with twelve theme parks around the globe, including Paris, Florida, and Tokyo, as well as more than sixty animated films with Disney Animation Studios alone. Iger announced soon after his return as CEO that he’s only here to get the company back on its feet and then he’ll retire for good. We can expect Bob Iger to be around for another two years, at least, with very minimal changes to the parks and a few new movies.
In the words of Walt Disney “Disneyland will never be completed. It will continue to grow as long as there is imagination left in the world.” The same appears to be true for the rest of the Disney Company, too.













