Disney CEO Bob Iger Takes Diplomatic Approach Amid Writer and Actor Strikes
Disney CEO Bob Iger has adopted a more diplomatic stance regarding the ongoing strikes by writers and actors, following earlier remarks that labeled their demands as “not realistic.” During the company’s quarterly earnings call, Iger expressed his deep respect and appreciation for the creative community, emphasizing the importance of their contributions to the company’s success. He expressed a fervent hope for a speedy resolution to the issues that have kept them apart in recent months and pledged personal commitment to achieving this result.
The strikes have had a significant impact on Disney’s financials, with the company reporting a $512 million streaming loss for its direct-to-consumer unit and a $2.4 billion impairment charge due to the removal of numerous film and TV shows from its streaming services. As a result, Disney has revised down its estimate for total spending on programming this year.
Iger’s initial remarks, made during a conference at Sun Valley’s Allen & Company mogul conference on July 13, drew criticism and sparked backlash from the striking writers and actors. His comments were seen as undermining their demands and added to the already tense atmosphere surrounding the strikes.
The entertainment industry’s top executives have adopted a cautious approach in their interactions with investors, acknowledging the seriousness of the situation and expressing hope for a resolution. Paramount Global CEO Bob Bakish expressed sadness over the failure to reach an agreement, while Warner Bros. Discovery chief David Zaslav pledged a good-faith effort to make a deal with the striking unions. Netflix co-CEO Ted Sarandos, whose Los Angeles offices have been a major picketing location, shared a personal story about his father’s experience as a union electrician.
Meanwhile, super agent Ari Emanuel, whose agency Endeavor is not part of the Alliance of Motion Picture and Television Producers (AMPTP), stood apart from his fellow moguls. While acknowledging the impact of the strikes on his business, Emanuel declared his continued support for his clients and a push for a resolution.
One notable absence in the discourse surrounding the strikes is Comcast CEO Brian Roberts, who has remained silent on the matter since May. NBCUniversal President Michael Cavanagh reiterated a commitment to reaching a fair deal with the guilds as soon as possible during a recent earnings call.
As the strikes continue to disrupt the entertainment industry, hopes remain high for a resolution that satisfies both the creative community and the studios. The coming weeks and months will be crucial in determining the outcome of these negotiations.