Bob Iger shared his pessimistic outlook on the future of cinema and traditional television in an interview at the Code conference in Los Angeles on Wednesday.
But the former Disney CEO, who was particularly bullish on the growing number of streaming services accepting Madison Avenue, including Disney+, predicted that not all of the current market entrants would survive long term.
“Advertising will thrive in the streaming world,” Iger told moderator Kara Swisher from the Beverly Hilton stage. I think it’s a smart move because it gives you options.”
Iger has taken a bleak view of the movie business in theaters, revealing that he doesn’t believe “movies will ever return to pre-pandemic levels.”
He even says the success of massive streaming shows like “House of the Dragon” and “The Mandalorian” has made him rethink some of the myths he once believed to be true. I’m saying
“The film industry argued that it couldn’t create a cultural impact without people going to cinemas all over the world on the same weekend,” he said. “I don’t agree anymore. I probably made that argument at some point.
Another idea that forced him to rethink, he admitted, is that Apple TV+ is likely to be as successful as ever. “I was on the board of directors when Apple decided to get into the TV and movie streaming business,” he said.
Iger remains bullish on Disney as the company has leaned heavily toward streaming and its reliance on its rapidly declining traditional media business has been buffered by success with its theme parks. He was less optimistic about the fate of other unnamed conglomerates that were less diversified. says Mr.
Iger was neither asked nor commented on the reported tensions between him and his successor Bob Chapek.
Iger said he spent most of his post-retirement time advising a string of startups he’s invested in, and working on a sequel to his first book due in 2024. . He even sits in political offices and on the boards of large corporations.
In late 2004 and early 2005, Iger was pressed about the circumstances surrounding his promotion to Disney’s CEO. He disputed the characterization that his predecessor, former Disney CEO Michael Eisner, “kneeled” him on his way to the top job. He said he now has a good relationship with Eisner.
Iger detailed his cheating on Disney’s acquisition of Twitter in 2017. He characterized the social as potentially coming very close to unity, until making last-minute reservations about the rudeness and hate he saw running rampant on his platform. In a comment reflecting billionaire Elon Musk’s pursuit of Twitter and the current controversy over the prevalence of bots on the platform, he said Disney’s assessment of Twitter’s user numbers was “a significant portion of It is not real.” He declined to specify a percentage, but made it clear that it did not reach a majority.
When Swisher asked for his opinion on Musk’s actions on Twitter, “Maybe he saw what I saw. I answered. But he doesn’t seem to be that type. I mean it in a complementary sense. ”
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