Disney is not looking to acquire any content companies, CEO Bob Chapek said.

By | October 27, 2022

Disney is not currently in the market to buy another studio or network, CEO Bob Chapek said.

“We have great innovation teams, great products and franchises,” Chapek said Wednesday at the WSJ Tech Live 2022 conference. We are very happy to have a score on our channels without being a buyer in the open market.

Disney’s biggest content acquisition is under former CEO Bob Iger. In the year In 2019, Congress closed a $71 billion deal for 21st Century Fox properties, after earlier acquisitions of Marvel, Pixar and Lucasfilm.

At this point, Chapek said, “Our plan is to have all of our content creation self-contained.

After Disney’s production capabilities were backed up during Covid, the company is now at a point where it can ‘finally reach’ some level of stability in terms of producing content with the right content, Chapek said. “Now we can carefully plan the amount of content we want for each channel,” he said.

Disney’s CEO was interviewed by Wall Street Journal editor-in-chief Matt Murray, who questioned the perception among some consumers that Disney is “too vigilant.” Chapek replied, “We want to reflect the world we live in – the world is a rich, diverse place and we want our content to reflect that. He continued, “This is also good from a business point of view, because it appeals to a larger base. We want Disney to stand for bringing people together.

Murray also questioned Chapek, who learned from the controversy over Florida’s “don’t talk gay” bill. Disney was initially mum on the Florida law, which sought to ban classroom discussion of sexual orientation or gender identity until third grade. After an uproar among workers, Disney came out against the law, prompting Florida Governor Ron DeSantis to retaliate by signing a bill to eliminate Disney’s self-governing taxing district in Orlando.

I think it’s a lesson we always know [was] It’s all about the actors,” Chapek said. Murray questioned whether that meant Chapek misjudged how his staff would react. Chapek said, “I mean in terms of making them feel like they’re a part of The Walt Disney Company and can relate, we’re reminded of how important their feelings are in these matters. Products produced by The Walt Disney Company.

Asked about ESPN, which Third Point activist investor Daniel Loeb urged the company to spin off recently before backing out, Chapek reiterated his intention to own ESPN, which he called a “power brand.”

“It’s for the sports fan. of The power brand is out there, Chapek added, adding, “There are dozens of companies that want to have that.”

As for Disney+’s place in the streaming wars, Chapek said he believes streaming will be one of the must-have services and that “not everything in the marketplace today” will survive. “This is critical mass business. Scale is really important to thrive,” he said.

As he has done in the past, Chapek talked little about Disney’s plan to roll out a membership program that would bring together customer data from Disney+ with the company’s businesses, like its theme parks. “We aspire to use Disney+ as more than just a movie service,” he said, adding that it will provide customers with a “personalized experience that allows them to have a holistic relationship with the company.”

Chapek replaced Bob Iger as Disney’s CEO in February 2020. Disney’s board earlier this summer renewed Chapek’s contract through July 2025.

Disney is scheduled to report earnings for the September 2022 quarter, the company’s fiscal Q4 2022, on Tuesday, Nov. 8, after the market closes.

Category: tv

Leave a Reply

Your email address will not be published. Required fields are marked *