In 2021, Disney brought in approximately $16.55 billion in profit.
In 2020, the company’s losses were around 2.9 billion dollars.
Walt Disney is the most valuable company in the media sector.
This year Disney has generated various controversies for everything that surrounds the entertainment company in the world. Recently a report from former Disney boss Bob Iger is still unhappy with the way the house of Mickey Mouse handled his departure and called naming current CEO Bob Chapek one of his “worst business decisions.”
These new statements come after Disney extended Bob Chapek’s contract for three years last June, winning with a unanimous vote in the company’s executive board.
Disney is one of the most important brands in the world of entertainment and, according to data from the annual report of the company, in 2021 it entered approximately 16 thousand 550 million dollars thanks to the different parks and vacation complexes that it has around the world.
According to said report, this figure represented a decrease of around 485 million dollars, with respect to the figure recorded during the previous year; however, to this figure are added those obtained in the film industry, where in the last fiscal year, the company generated revenues of approximately 67.4 billion US dollars.
In accordance with The study of The World’s Biggest Public Companies, Walt Disney is the most valuable company in the media sector, Well, it leads based on market value, in 2021, with 339.9 billion dollars; leaving Comcast in second place, with 252.4 million dollars; and third to Netflix, with 242.2 billion dollars, among other entertainment companies.
What the former Disney boss said about Bob Chapek
The report shared by New York Post detailed that Bob Iger, who resigned as CEO of Disney in early 2020, just before the Covid-19 pandemic, he regretted his last decision.
“He said he was tired of me haranguing him about the succession and said, ‘Well, you guys have someone else running the business,'” a former Disney executive said of Iger’s initial decision to resign and appoint Chapek to succeed him. ; Also, he added that “He had a lot of regrets as soon as Covid hit.”
Recall that the succession plan between the two figures required Chapek to report to both Iger and the Disney board, but their relationship quickly soured.
The two executives reportedly disagreed on several key elements of Disney’s business, including how the company should be structured internally, its handling of political issues and its response to the pandemic.
The report also mentions that the dysfunction was so significant that Iger and Chapek had their own advisory teams that occasionally competed.
This information is not the first on the discontent between both figures, since since his arrival at the managerial position he has been involved in various controversies, such as the company’s failed response to the bill Florida’s “Don’t Say Gay” or the shocking ouster of Disney TV content chief Peter Rice and the installation of Dana Walden.
As he was also severely criticized for the lack of tact he had to deal with issues such as the salary of actress Scarlett Johansson, who starred in “Black Widow”. Given this, these Chapek controversies have cost the world’s largest media conglomerate dearly, which has suffered a drop of more than 30 percent of its shares so far this year, a figure that has more impact in the context of a recovery due to the losses left by the health crisis, which register a net amount of 4 thousand 721 million dollars for the third fiscal quarter of 2020 alone.
Disney managers are not the only ones in the industry who have caused controversy due to their comments or behavior that completely affected their brands, As an example is the CEO of Tesla, Elon Musk, who continues to cause conversation in public opinion.
These new statements open a new chapter in the controversies that Disney has unleashed this year in the world, especially in the entertainment industry, where Iger’s legacy is still present before some employees of the mouse company.
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