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Bob Chapek confirmed for 3 years at the head of Disney

2022-06-29T06:56:23.169Z


At Disney for nearly 30 years, the 63-year-old became number one in February 2020. Bob Chapek, boss of the Walt Disney Co. is unanimously renewed by his board of directors for a three-year contract. It's a victory for this 63-year-old man, at Disney for almost 30 years, who became number one in February 2020. Normally, the news would go almost unnoticed. However, nothing is normal at Disney for a few years. Read alsoTrapped in a cultural fight: the dilemma of Netflix, Disney &


Bob Chapek, boss of the Walt Disney Co. is unanimously renewed by his board of directors for a three-year contract.

It's a victory for this 63-year-old man, at Disney for almost 30 years, who became number one in February 2020. Normally, the news would go almost unnoticed.

However, nothing is normal at Disney for a few years.

Read alsoTrapped in a cultural fight: the dilemma of Netflix, Disney & Co


In the spring, some saw the boss of the world leader in communications weakened enough to be replaced.

Rumors of a temporary return of Bob Iger, his suave and popular Hollywood predecessor, were circulating.


Bob Chapek, who no longer speaks to Bob Iger, has finally survived the turmoil that made Disney the scapegoat of the Republican right, to publicly oppose, albeit belatedly, a Florida law.

The latter prohibits teaching children under the age of 9-10 the theory that children can choose their gender and are not born male or female.


Bob Chapek was particularly criticized for not having satisfied anyone in this matter.

Neither the LGBTQ activists, powerful within the company, nor the conservatives in Florida and elsewhere.

Many trials



The case is far from settled because the law is still in force in a state where Disney employs more than 70,000 people.

Governor DeSantis, who is running for the White House and denouncing Disney as a "

woke

" company, has even obtained the tax and regulatory privileges that Disney has enjoyed since 1967 in the development of an area south of Orlando where six of its theme parks, to be abolished in June 2023.

Read alsoHow Netflix diversifies its income by copying the Disney model



At the same time, Bob Chapek had to face other ordeals, very followed in the world of the media.

For example, he had to resolve a costly dispute with Scarlett Johansson, who considered herself robbed of 50 million dollars by the online release, and not in cinemas then closed due to confinement, of her film “

Black Widow

”.



The new boss of Disney arrived at his post just as the covid pandemic and the confinements began.

The latter closed Disney cinemas and theme parks practically overnight and for several long months.

They have also interrupted the filming of films, series, television programs produced by Disney.

Without forgetting that the meetings usually broadcast by ESPN, the sports channel of the communication giant, have also been suspended.

A big bet



Bob Chapek had to make unpopular decisions, dictated by exceptional circumstances.

Conversely, the end of the confinements served him a lot.

In the first quarter, the reopened Disney theme parks generated record profits.

It was from the management of this very lucrative pole that he was promoted to number 1 in early 2020.

Read alsoNetflix and Disney+ are shaking the French advertising market



However, since the beginning of the year the Disney share price has plunged by more than 38%.

Wall Street doubts the ability of the video-on-demand platform, Disney +, which has 138 million subscribers today, to reach 230 to 260 million and generate profits by September 2024.



But it

is Bob Chapek's big bet: to make Disney a giant that primarily distributes its productions directly to the public, on the internet, and much less on television channels whose audience is shrinking or in cinemas where only the super- productions.

His bet is all the more difficult to achieve since all of Disney's rivals are also aiming for this objective with their own video-on-demand platforms and that the "

streaming " market

» gives serious signs of saturation.

Source: lefigaro

All life articles on 2022-06-29

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