Bob Iger Receives Snow White Service Award for Nearly 50 Years of Service at Disney: “Success still hinges on one thing: great storytelling”

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Bob Iger recently received a special Snow White Service award from Disney for his nearly 50 years of service. The businessman shared a photo of the award on his private social media account, expressing gratitude to his colleagues and sharing some wisdom.

Success still hinges on one thing: great storytelling,” says Iger, who joined ABC in 1974. Though he received the service award, he hasn’t technically been at Disney for 50 years yet. Iger joined the company in 1974 and served in various roles before becoming CEO in 2005, a position he held until 2020. He stepped down as CEO in 2020 but remained as executive chairman until late 2021 to oversee the transition to Bob Chapek. Iger officially retired in 2021 and was succeeded by Susan Arnold. However, Disney reinstated him in late 2022 to replace Chapek, about whom Iger had reportedly voiced concerns behind the scenes.

One of Bob Iger’s most notable achievements as CEO was his strategy of acquiring high-value entertainment companies to enhance Disney’s portfolio. Under his leadership, Disney acquired Pixar, Marvel, Lucasfilm, and 21st Century Fox, which have become some of the company’s strongest assets. At the time, no one could have predicted how massively successful the Marvel Cinematic Universe (MCU) would become.

Iger’s award comes amid worrying reports of significant financial losses for Disney’s streaming service, Disney+. Additionally, the profitability of the MCU is declining, with recent films like ‘The Marvels’ and ‘Ant-Man & The Wasp: Quantumania’ underperforming at the box office.

As we got into the streaming business in a very, very aggressive way, we tried to tell too many stories. Basically we invested too much, way ahead of possible returns. It’s what led to streaming ending up as a $4 billion loss. It was clear to me that our structure was not working, because we were removing accountability from those that were basically investing the most capital was a mistake.

Bob Iger

Disney found itself among the box-office disappointments in 2023, ending the year without a billion-dollar movie, which is rare for the media giant. In response, Bob Iger announced that Marvel Studios will limit their creative output over the next few years, with plans for 2-3 live-action movies and 2 shows annually.

However, halfway through 2024, Disney already has a profitable hit with ‘Inside Out 2’ and a potential billion-dollar blockbuster with the R-rated ‘Deadpool & Wolverine.’

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