At the end of last year, former Disney CEO Bob Iger stepped away from the company, leading to many fans, analysts and shareholders to wonder what Disney CEO Bob Chapek was going to do with the company, now he no longer had Bob Iger still involved.
There have been many criticisms of Bob Chapek’s way of running Disney. He’s well known within the theme park community, where he got branded as a cheap-skate and a bean counter, who is always trying to save money. He also spent years working at Disney’s home entertainment division and was one of the key people behind the shift from VHS over to disc formats and ushering in digital formats.
Lately, Disney stock has been suffering a hit and to try to combat the issues being raised, Disney CEO Bob Chapek recently sent out a memo to all of Disney’s cast members discussing the future of the company.
The memo mentions that Disney is focused on three core pillars.
- Focus On The Audience
Here is Chapek’s full memo:
As we begin the New Year, I want to share our mission and the strategic pillars that will be key to our success—but first, I want to start 2022 on a note of gratitude for all of you, your talent, dedication, and optimism during the most disruptive time in our company’s history.
Thanks to you, we are weathering the pandemic and emerging stronger than ever. Over the last two years, we continued to tell the world’s best stories, reorganized, and accelerated our transformation to better serve audiences and guests. We looked inward during a time of social disruption, saw how much was left to do, and made significant change. And of course, we underwent a leadership change—and I am enormously grateful for the tremendous foundation Bob Iger left us.
You achieved those things during a once-in-a-century pandemic, and I want to acknowledge those whose roles require them to be in the office or one of our parks, as well as those working from home while managing at-home learning and gaps in childcare. I also appreciate your patience as we begin reopening our offices. Our long-term goal is to provide greater flexibility, and your leaders will be in touch as plans evolve.
It’s ironic that this disruption is happening as we prepare to celebrate our company’s 100th anniversary. For nearly a century, we have defined and redefined entertainment, created countless lifelong memories, and delighted fans and families around the world. It’s a legacy that is simply unrivalled—and a welcome responsibility for us to build upon.
And so I believe our mission for this year is clear: set the stage for our second century, and ensure Disney’s next 100 years are as successful as our first. To do that, we will focus on three pillars.
First, storytelling excellence. What makes Disney so unique is that the stories we tell mean something to people. They inspire, give hope, bring us together, illuminate the world around us, and create memories. That is Disney magic, and we must continue to set the creative bar higher and higher. To that end—and in addition to all my other creative meetings—I am establishing a new standing monthly meeting with our senior creative leaders to discuss the opportunities we face as a storytelling enterprise. This will encourage collaboration, sharing of best practices, and stimulate cross-studio ideation.
Second, innovation. Since Steamboat Willie, we have been the world’s foremost innovative storytellers. That must continue as technology evolves, giving our creative teams new canvases like the metaverse on which to paint. We should be especially innovative as we seek to bring stories to life in new ways—particularly if they enhance what many call our “franchise ecosystem,” which is one of the things that sets us apart.
And third, relentless focus on our audience. We are a big company with many constituents and stakeholders, all of whom have a place in our decision-making. But at the end of the day, our most important guide—our North Star—is the consumer. Right now, their behavior tells us and our industry that the way they want to experience entertainment is changing—and changing fast thanks to technology and the pandemic. We must evolve with our audience, not work against them. And so we will put them at the center of every decision we make.
When you look at the entertainment landscape, I believe Disney stands alone. We have the world’s most creative storytelling engine along with the world’s most beloved brands and franchises—which we can bring to life in ways no one else can. We have a portfolio of distribution platforms across the world—including powerful streaming services—with the ability to reach audiences anywhere, anytime. We have the #1 news organization and the most trusted brand in sports. We bring people together and make magical memories that last a lifetime at our parks and on our cruise ships. We have a unique ability to impact culture and connect with people on deeply personal levels. And we have you—the best team in the business.
I couldn’t think of a better combination, and I could not be more optimistic about our future. I look forward to setting the stage for our next century with all of you, and to making the unique brand of magic that only Disney can.
Ever since Bob Chapek took control as the CEO of Disney, he has been very focused on building up Disney’s streaming services and this memo continues to showcase the importance of how Disney+, along with Star+ and Hulu can reach their audience.
One key aspect of this memo, is Bob Chapek’s commitment to listening to consumers, especially to how habits are changing due to technology, which will no doubt have an impact on how quickly films arrive on Disney+ and much more.
There has been lots of speculation that Disney was looking to sell ESPN, but this memo also reconfirms Disney’s commitment to ESPN.
What do you think of Bob Chapek’s memo?