Will the swapping of Bobs help Disney come back from its massive debt?
Last week, recent reports alleged that Disney unceremoniously dispatched Bob Chapek as CEO in an attempt to make Disney+ appear more profitable by shifting the budgets of various projects. Sources with ties to the company tell the Hollywood Reporter that many of the board members had been building to the point of discontent and were considering replacing Chapek in June 2022.
The decision to remove Chapek was one based on numbers. The Wall Street Journal reports that “people familiar with the matter” shared that the performance of Disney+ was not as investors expected, and people were losing money.
While some shows intended to be billed, and are billed, as Disney+ originals were aired on other networks like Disney Channel to save on production and marketing costs for the streaming service, Chief Financial Officer Christine McCarthy, who was reportedly one of the voices behind Chapek’s removal, was “concerned about this strategy.”
McCarthy had a right to be concerned.
Author: Alyssa Miller
This article comes from No Film School and can be read on the original site.
