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The pandemic called into question all the stability that was known around business around the world. In this way, the entertainment industry was no exception to the rule. Despite being an extremely profitable area and coming on the rise, the health crisis led to the collapse of large companies due to the side effects suffered in terms of content production, distribution and audience. The streaming platforms had a great season, but the offer in the studios had to be reduced due to the restrictions to record. Walt Disney Company, despite being the most powerful company in the medium, it was no exception.
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the creative aspect
At that time and until now, studio executives have rushed the creation of titles for their major franchises such as Marvel Studios, Pixar, Lucasfilm and Nat Geo and to be able to recover the million-dollar investments they have made.
However, not everything has been able to compensate. On the contrary, more and more the company has gained detractors. His fans have been decimated in the face of waves of conservative communities.
Associations of parents, churches and moral groups have condemned the inclusion that Disney seeks to give in all its productions. In this way, the creative part has been the first aspect to suffer and that has obviously been reflected in the coffers of the conglomerate.
the financial problem
On the other hand, financial matters are not going in the best way for the emporium chaired until recently by Bob Chapek. The high volume of production against the low remuneration could force La casa del ratón to have to sell its titles to the competition.
That is, films or series such as Star Wars, the Marvel Cinematic Universe or National Geographic documentaries could reach other digital catalogs or even other channels that are part of the competition.
“Disney is under pressure to improve its financial performance and change its broadcast strategy. Last year, the company posted its worst stock results in decades. After Disney reported a $1.5 billion loss on its online video business in the third quarter, the board fired CEO Bob Chapek, replacing him with Bob Iger, who had previously held that position for 15 years. Among his many challenges, Iger must also face a power struggle from activist Nelson Peltz, who is seeking a seat on Disney’s board and pushing for better performance, ”says the Bloomberg media outlet.
While the specific determinations that Disney will have to execute have not been confirmed, a contingency plan is expected to be released shortly.
Also, it would not be strange that they have to blow some heads in addition to Chapek’s in the company’s leadership. It is worth remembering here the intention recently to hire Ben Affleck as Creative Director.
Fuente: Bloomberg
