Disney has had quite the year.
Not only have there been many changes in the theme parks, but Disney has had to deal with several controversies. On top of that, there was a surprising switch in CEOs when Bob Iger returned and Bob Chapek stepped back. We’ve been watching all of the changes unfold since, but now experts predict some major changes for Disney in 2023.
CNBC asked many media and entertainment executives and experts to give a surprising or significant prediction for 2023. Many of these predictions included Disney, which is what we’re going to be looking at now.
Current CFO Christine McCarthy
As more details emerged about why Chapek left the company, we learned that Disney CFO Christine McCarthy was one of the executives who no longer believed in Chapek’s ability to lead. The so-called “King-Killer” is now being called one of the top-contenders to be the next CEO.
Despite all of this, one expert predicts that McCarthy will actually leave The Walt Disney Company. McCarthy was reportedly part of Chapek’s inner circle for several years before advocating for his removal this year. According to the expert, Iger may view that with suspicion and cause him to choose a different successor.
McCarthy’s current contract is set to end in mid-2024, but she could leave before it is up. It is also possible she could extend her contract — we’ll just have to wait and see.
Bob Iger’s Contract
Bob Iger returned to accomplish a few things for the Walt Disney Company with one of the most important being finding a successor. However, one expert predicts that Iger will extend his contract and remain CEO for several more years.
Iger, now 71 years old, originally stepped back so he could retire, but he has still been vocal about Disney’s moves and other issues. His current contract is set to end on December 31st, 2024 giving him two years to find a successor. If he needs more time to correct his mistake and pick another CEO, he may extend that contract.
Netflix Merge
Another major prediction is that Netflix will merge with another company. Although Disney+ has not made as much revenue as Disney would have hoped, Netflix has been struggling and reported the biggest loss of subscribers in 10 years.
While one executive predicted Netflix would merge with Paramount Global, another said Netflix could merge with Disney as “Iger’s signature move upon returning as CEO.
Although this merge is unlikely, it would be one of the biggest deals in history. Disney has a market valuation of around $165 billion and Netflix’s market capitalization is around $130 billion — together this would make a streaming giant that could dominate the streaming industry.
Former Disney Executive Return
Since Iger returned, many Disney executives have left the company. However, several Disney executives also left the company when Iger stepped down from CEO in 2020. One of these was Kevin Mayer who went on to be CEO of TikTok for a limited time — now, one expert is saying he could return to Disney.
According to this expert, Iger has he opportunity to bring back Mayer if he named him the next Disney CEO and acquired Candle Media, which was created by Mayer and other former Disney employee Tom Staggs.
Iger is known for several major acquisitions he made for Disney during his first time as CEO like Pixar, Marvel, and LucasFilm. Candle Media also has some content that would merge well with Disney+. Iger’s main focus is not acquisition at this time, but it could be a possibility during the next couple of years.
None of these predictions have been confirmed just yet, so we’ll have to wait and see if they come true. It is important to note that in last year’s same predictions from CNBC, an expert predicted that Iger would return to Disney. We’ll be keeping you up-to-date on the latest changes with The Walt Disney Company, so stay tuned to AllEars for more.
What Bob Iger Can Do That Bob Chapek Couldn’t
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What changes do you want to see from Disney in 2023? Tell us in the comments.
Lower prices, better discounts for military personnel, bring the dining plan back. I realize Disney is a business, but you need to start caring more about your customers and from what I have heard, your employees. Fast pass should also return, without out the high price and all of the rules.