Some experts espoused their opinions that the Disney CEO’s work after returning to the helm has been beneficial to the company, and things are looking good for the Walt Disney Company (for the first time in a while).
For the past year and change, many have been going back and forth, debating whether Disney CEO Bob Iger has genuinely had a positive impact on the company since his return. In fact, not only have fans and the Disney community been doing this, but even activist investor Nelson Peltz has had his say about the matter.
However, some experts recently spoke on this subject, and according to them, Bob Iger is the man for the job, and there are already signs of an upswing.
New Report Asserts Bob Iger is “Wracking Up” Some Wins
According to an article from the Los Angeles Times, despite a rough start to his tenure, Bob Iger’s second stint at the helm of Disney finally looks brighter, echoing a sentiment Mr. Iger himself expressed during a Disney town hall last year.
During the earnings call at the beginning of the month, Mr. Iger shared a lot of exciting news that fans could look forward to, from Moana 2 coming to theaters in November to Disney acquiring the rights for Taylor Swift’s Eras Tour movie.
Shareholders also had their fair share of good news, with the company’s stock being 20% up since the beginning of the year and Disney having its best day since 2021 on Wall Street after the earnings report call.
Related: Some Believe Disney Won’t Catch a Much-Needed Break In 2024
Great news for Disney, because Mr. Iger’s success makes it incredibly difficult for activist investors such as Nelson Peltz to see success with their proposed changes to the Disney board.
“Whatever chance of success these activist investors had is being buried by 100,000 tons of Disney carbonite,” TD Cowen media analyst Doug Creutz said in an interview after the earnings. “The market likes what it sees.”
But Mr. Iger’s work is far from finished. The Walt Disney Company still has to bounce back to its 2019 avatar when the company was enjoying a lovely peak and come back from a lot of the controversy it’s been drowning in for the last few years.
Related: Bob Iger Thought He Deserved a $47.5 Million Payday. Here’s Why.
However, Mr. Iger seems to have his finger on the right pulse with his moves.
While brutal, the 8000-position elimination, along with a whole host of other cost-cutting measures, did result in Disney cutting costs by over $7.5 billion, and not only this, Disney also showed improvement in streaming service losses.
As the Los Angeles Times explained, “Financial losses in the streaming service businesses shrank to $216 million during the most recent quarter from losing more than $1 billion during the same period a year prior.”
Ultimately, it seems that Mr. Iger has his cleanup strategy from the Bob Chapek era down pat and is going full steam ahead to ensure Disney celebrates one hundred more years in the market.
It seams as though he is proceeding in the right direction, but the mountain of mistakes that was built for him to correct will take time and patience from disney fanatics and more. this year is the lowest amount i have received in dividens on my disney stock for the last 15 years, but at least it was something. STILL ALOT OF FIXING YET FOR DISNEY GUESTS !