Disney reconsiders making content for others under Bob Iger | Inquirer Entertainment

Disney reconsiders making content for others under Bob Iger

/ 03:25 PM March 12, 2023

FILE PHOTO: Executive Chairman of the Walt Disney Company, Bob Iger arrives at the world premiere for the film 'The King's Man' at Leicester Square in London, Britain December 6, 2021. REUTERS/Hannah McKay

FILE PHOTO: Executive Chairman of the Walt Disney Company, Bob Iger arrives at the world premiere for the film ‘The King’s Man’ at Leicester Square in London, Britain December 6, 2021. REUTERS/Hannah McKay

Walt Disney Co Chief Executive Bob Iger Thursday said the studio may resume making films and television shows for its rivals, marking a departure from recent years, when its production resources were harnessed to launch and grow its marquee Disney+ steaming service.

Iger told the Morgan Stanley Technology, Media and Telecom Conference in San Francisco that streaming services have traditionally relied on a volume of fresh content to attract subscribers. He said he hopes to embrace a more curated HBO-like approach of making a few high-quality shows built around its major brands, as he works to lift Disney+ to a profit.

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“As we look to reduce the content that we’re creating for our own platforms, there probably are opportunities to license to third parties,” Iger said. “For a while, that was something we couldn’t possibly do because we were so favoring our own streaming platforms. But if we get to a point where we need less content for these platforms, and we still have the capacity of producing that content, why not use it to grow revenue?”

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Iger also talked about the possibility of licensing content to third parties, noting that Seth MacFarlane’s animated series “Family Guy” drew viewers on Disney-owned Hulu after the shows originally aired on the Fox network.

Iger returned to Disney in November, less than a year after he retired, as the entertainment company sought to boost investor confidence and profits at its streaming media unit.

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The company announced a sweeping restructuring in February, saying it would eliminate 7,000 jobs as part of an effort to save $5.5 billion in costs and return power to Disney’s creative executives.

The plan promoted activist investor Nelson Peltz to end his quest for a board seat, saying he was happy with Iger’s restructuring.

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TAGS: Bob Iger, Disney Plus, Walt Disney Co.

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