The CEO of one of the world’s largest entertainment conglomerates—Bob Iger—has declared a new era is on the horizon for The Walt Disney Company after a particularly rough 2023.

This year hasn’t been an easy one for Disney. The year began with the dust settling around Bob Iger’s return to the Mouse House and the unceremonious ousting of Bob Chapek at the end of 2022. In the wake of Chapek’s dismissal, there were a lot of messes to clean up, and Mr. Iger has clearly been incredibly busy behind the scenes with his cleanup job.

After months of working hard on the task at hand, Bob Iger declared the start of a “new era” for Disney during the recent earnings call.

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7000 Person-Layoffs and $5.5 Billion Cost Cutting Ushers in New Era for Disney

During the fourth quarter earnings call that took place on November 8, 2023, Disney CEO Bob Iger informed listeners that the company was entering a new “era of building” after the last few painful months of restructuring and reorganization.

As Disney Fanatics would know, the last year has been incredibly challenging and difficult for Disney. The Mouse House saw a massive shake-up with some of the highest-level executives leaving the company, starting with Bob Chapek’s trusted allies like Kareem Daniel, who were asked to leave. Months after the initial “exodus,” even former CFO Christine McCarthy left.

Many wondered what the future of The Walt Disney Company held, considering how different the company looked now compared to one year prior. For a few months in between, employees even reported there was a “sense of foreboding.” However, it seems like CEO Bob Iger is optimistic that the difficult part is over.

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“While we still have work to do…our progress has allowed us to move beyond this period of fixing and begin building our business again,” Mr. Iger said.

As BBC reported, the company’s stock price has dropped immensely since it hit its peak in 2021. Even today, the Walt Disney Company remains the target of activist investors who are impatient for improvement.

Incidentally, Disney posted better-than-expected profits this quarter. Streaming business losses continue to narrow, the company shared, and they have even cut costs more than they expected.

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“We have a solid foundation of creative excellence and innovation built over the past century, which has only been reinforced by the important restructuring and cost-efficiency work we’ve done this year, and we’re on track to achieve roughly $7.5 billion in cost reductions,” Bob Iger commented.

He added, “Combined with our portfolio of valuable businesses, brands, and assets—and the way we manage them together—Disney has a strong hand that differentiates us from others in our industry.”

Of course, only time will tell how Disney is going to continue from here. However, many fans remain hopeful that this “new era” means that we’re going to see some great things from the company that has set the standard for entertainment for a whole century now.

What do you think of Bob Iger’s comments? What do you want to see in this new era of building?