Register

    The World Of Disney Is Evolving

    By SHOOTUpdated:No Comments2608 Views
    In this Thursday, June 16, 2016, file photo, Disney CEO Bob Iger poses for selfies with visitors on the opening day of the Disney Resort in Shanghai, China. (AP Photo/Ng Han Guan, File)

    By Mae Anderson, Technology Writer

    NEW YORK (AP) --

    Disney has been on a tear the past few years, thanks to popular channels like ESPN, its "Star Wars" and Marvel superhero franchises, and improving results at its global parks.

    Now comes the hard part.

    CEO Robert Iger's contract runs out next year, creating management uncertainty just as Disney needs to keep its lucrative television offerings relevant in a world increasingly dominated by streaming services.

    The company faces "a time of transition" as consumers abandon expensive cable subscriptions, said Morgan Stanley analyst Benjamin Swinburne. That shift threatens Disney mainstays such as ABC and ESPN.

    Here's a look at Disney's evolving realities.

    LIVE TV NOT SO HEALTHY
    ESPN has been one of Disney's crown jewels, but with cable viewership on the decline, its ratings have been under pressure.

    Disney revenue and profit both fell in the October-December quarter, hurt by a decline at ESPN and tough comparisons to a year ago, when it released "Star Wars: The Force Awakens." Profit dropped 14 percent to $2.48 billion on revenue that declined 3 percent to $14.78 billion.

    Cable network revenue fell 2 percent to $4.4 billion, hurt by lower ESPN revenue. Disney blamed the ESPN results on higher programming costs and lower advertising revenue, partially offset by affiliate revenue growth.

    STREAMING AHEAD
    So Disney has been working hard to adapt to the new realities of online TV watching.

    Its channels — ABC, The Disney Channel, ESPN and others — are all part of less expensive "skinny" channel bundles on streaming services such as Sling TV, Sony PlayStation Vue, and DirecTV now.

    Disney also took a $1 billion stake in BAMTech , which provides streaming for Major League Baseball. Disney plans to use that technology for an ESPN streaming service, set to launch this year, which will offer live game streaming and programming not offered on regular ESPN.

    Disney might also one day offer a standalone streaming version of ESPN, much the way HBO has with its $15-a-month-service HBO Now.

    In a conference call with analysts, Iger said Disney won't rush to offer the ESPN standalone service, in part because the company still makes a lot of money from cable and satellite fees. But he said ultimately it is Disney's "powerful intent to go out there aggressively with digital offerings directed to consumers for ESPN" and other Disney offerings.

    Nomura analyst Anthony DiClemente suggests Disney first wants to see how Hulu's live TV service, expected in the next few months, fares. Disney owns 30 percent of Hulu, and will benefit from any subscriber growth the live TV service sparks.

    IGER'S FUTURE
    Disney is also contending with the looming end of Iger's contract, which expires in June 2018. Since taking the top role in 2005, Iger has acquired Star Wars owner LucasFilm, Pixar and Marvel and driven improvements in Disney's consumer products and parks division, most recently with the opening of Shanghai Disneyland , which opened in 2016.

    Speculation has been swirling whether Iger will extend his contract in June. There's no obvious successor at Disney; one heir apparent, COO Tom Staggs, left last year.

    Iger, 65, seemed amenable to extending his contract during a conference call with analysts. "If it's in the best interest of the company for me to extend my term, I'm open to that," he said.

    Category:News
    Tags:DisneyRobert Iger



    Hwang Dong-hyuk On Season 2 of “Squid Game,” Wrapping Production on Season 3; What’s Next?

    Thursday, December 26, 2024

    Viewers may gasp, cringe or cry out watching characters die on Netflix's "Squid Game," but those simulated deaths have a different effect on its creator, writer and director. Instead, Hwang Dong-hyuk feels happiness seeing them go.

    The show has a huge cast and Hwang says it was "really difficult" to manage everyone on set.

    As characters would die, Hwang recalls saying to the actors on their last day, "'Oh no! How sad! I won't see you tomorrow,' but I was always smiling inside."

    "Squid Game" season two premieres Thursday. It once again stars Lee Jung-jae and centers around a secret competition in South Korea that targets people in debt and the winner gets a big cash prize. What they don't know is that losing the game is deadly.

    Hwang originally conceived of the show 15 years ago as a two-hour film but it failed to gain traction with financiers or even interested actors. He put it aside and worked on other films instead. He then had the idea to make it a TV series instead and took the project to Netflix. There, it could reach a wide audience.

    "I never in my wildest dream thought it was going to be this huge," said Hwang, who spoke about the show and what comes next. Answers have been edited for clarity and length.

    Q: What have you learned from "Squid Game"?

    HWANG: I learned that I shouldn't give up. If you love something and if you want to create something, it might not work now, but the time might come later. Or that idea could be the source of inspiration for something else.

    Q: You've already finished filming season three of "Squid Game." Have you thought about what your next project will be?

    HWANG: I'm afraid to talk... Read More

    MySHOOT Profiles


    Add A Comment