The Anecdote For Transition Stress Is A Bit Of Fantasy

Michael Hedges March 10, 2021 Follow on Twitter

Transitions are stressful. Whether in the personal, social or professional spheres change alters needs, wants and fears. Most all of us have taken note of this. Nobody wants more anxiety when we are endlessly told how much stress we are under. We want to look beyond it all. Some people address this better than others. This is a good thing.

Walt Disney Company executive chairman Bob Iger is making 2021 his final year. At the annual shareholder’s conference call (March 9) he said it will be his last and he’ll be moving on after 47 years. “I will leave at the end of December with a strong sense of pride and a deep sense of appreciation for the very special place Disney holds in the hearts of people all over the world,” he said, quoted by Orlando broadcaster WKMG. With that he passed the microphone (virtually) to chief executive Bob Chapek, who continued the presentation. Politics watchers, largely in the UK, keep suggesting Mr. Iger will eventually become US Ambassador to the UK.

A year ago Mr. Iger gave the shareholders a similar statement; Mr. Chapek would be chief executive at the end of the year. That was February 2020, the beginning of a very difficult year. Plans changed and Mr. Iger decided to retain “operational control” due to the coronavirus pandemic. Mr. Chapek, who was elevated from chairman of Disney Parks and Resorts, had enough on his hands keeping together the theme parks and related businesses, absolutely essential to the Disney brand.

Another reason Mr. Iger was hesitant to bust out of Disney last year, widely reported, was dismay at the roll-out of streaming video service Disney Plus, a complex project in good times, launched three months earlier in November 2019. Streaming video was already the rage among consumers, production houses and, of course, investors as lock-downs upended routines. Disney Plus now has 100 million subscribers around the world, said Mr. Chapek to the virtually assembled shareholders, reported CNET (March 9). Media watchers noted, first, Disney Plus has less than half as many subscribers as Netflix. Second, Disney Plus got to the 100 million mark in 16 months while that benchmark took 13 years for Netflix.

Disney Plus has cemented itself, at this moment, in the top tier of streaming video services worldwide. Identities - personalities - being essential for branding, Disney Plus is OK for families while Netflix is wild and crazy. Discovery Plus is Muzak, largely background sound and pictures. Peacock, the NBCUniversal streaming product, is going after sports, with considerable competition. After that, it’s just a battle to get any kind of attention. Disney continues to push film and series production, largely geared to Disney Plus. Simple logic with that: subscribers always want something new along with their old favorites.

Mr. Chapek told the shareholder the iconic California and Florida theme parks will open this spring. Disney cruises could return in the fall. Not all customer-facing businesses are on that fast-track. It’s closing 60 of its 300 North American retail outlets. The ShopDisney e-commerce business will be getting a marketing push.

Last week RTL Group acquired Disney’s 50% share of free-to-air Super RTL, another indication of a focus on streaming and not broadcasting. Disney had been slowly withdrawing from the joint venture with RTL Group for several years, which accelerated with the appearance of the Disney channel in Germany. Super RTL is considered a family channel, meaning safe for kids. Super RTL operates in Germany and Austria so competition authorities in both will be passing judgement on the deal. Media watchers in Poland have been talking up the possibility of Disney acquiring Discovery’s TVN assets.

In 2023 The Walt Disney Company will celebrate its centenary. This October the Walt Disney World (Orlando) theme park will celebrate its 50th and continue the party until 2023. There will be many visual treats, all streamed live.

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