As the Walt Disney Company marks its 100th anniversary, CEO Bob Iger faces challenges in reversing the slide of the company's stock that's trading near 9-year lows.
As the Walt Disney Company marks its 100th anniversary on Monday with events at its theme parks and through its media channels, efforts by CEO Bob Iger to turn around the entertainment giant are facing headwinds. Iger, who in November 2022 returned to the role of Disney CEO that he previously held from 2005 to early 2020, is considering options that could take the company in new strategic directions.
The future of Disney’s media assets is under review, with Iger telling CNBC over the summer that broadcast station ABC and cable channels like ESPN "may not be core to Disney" and could be offloaded.
Disney is also making changes to its streaming platforms which have generated losses despite significant investment. Last week, the company implemented previously announced price hikes for the ad-free versions of Disney+ and Hulu while keeping prices for the standalone, ad-supported plans at $7.99 a month. Iger said on an earnings call in August that the ad market for streaming services is "picking up.
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