Disney CEO ‘Confident’ in Striking New Deal With NBA

Diddy‘s alleged drug mule is reportedly avoiding heading to jail.

In July of 2023, recently returned Disney CEO Bob Iger shocked the media industry by indicating he might be open to divesting the company’s declining  linear assets. By last fall, he’d changed his mind, declaring them not for sale. On interviews and earnings calls since, he’s explained why — most recently at the MoffettNathanson media conference, and in the midst of annual upfront presentations to advertisers.

Walt Disney will cut its investment in programming for traditional television networks “pretty dramatically” as the company navigates the consumer shift to streaming, Chief Executive Bob Iger said Wednesday.Iger said linear channels such as ABC still serve as an important marketing tool and reach older viewers who are not watching series such as “Abbott Elementary” on Disney’s streaming platforms.Still, the goal is to “reduce pretty dramatically our investment in content specifically aimed at those traditional networks,” Iger said at the MoffettNathanson’s 2024 Media, Internet and Communications Conference in New York.On Disney’s theme parks business, Iger said he expected continued growth but perhaps not at the same rate as in recent years.“We’ve had double-digit revenue growth in that business for quite some time, and that’s extraordinary,” he said.

Over the past several months, on more than one occasion, we’ve heard from Disney executives about how they’re going to be cutting back a bit on streaming and put the focus on streamlining releases. That is to say, all that talk about how Disney+ was going to be the golden goose of the company was a bit premature.

Todd Spangler NY Digital Editor Disney CEO Bob Iger said that as the traditional pay-TV universe continues to shrink, the company is cutting its investment in content for linear TV networks while also amortizing that expenditure across streaming platforms. The strategy is “to reduce pretty dramatically our investment in content specifically aimed in those traditional networks,” Iger said Wednesday at MoffettNathanson’s 2024 Media, Internet and Communications Conference in New York.

After a two-year absence from the upfront stage, Jimmy Kimmel was back Tuesday to take aim at Bob Iger, P Diddy, CBS and the new Golden Bachelorette.

Jennifer Maas TV Business Writer The theme of Disney‘s 2024 upfront presentation to advertisers Tuesday was “connections” — and not just because of the running bit started by “Deadpool” star Ryan Reynolds and “It’s Always Sunny in Philadelphia” star Rob McElhenney, which involved their constant replaying of a five-second ad spot that said “Connections!” with a Disneyified logo and voiceover. No, the symbol of unity across Disney’s brands was made up of a slew of announcements from Marvel, and about such other high-wattage projects as “Star Wars,” “The Bear,” “Only Murders in the Building,” the “Wizards of Waverly Place” sequel series, “9-1-1,” Ryan Murphy’s new slate of FX titles and more franchises with intersecting talent. Disney kicked off the event when Oscar-winning “Poor Things” star Emma Stone introduced the Mouse House’s big boss, Bob Iger — a job like that would traditionally go to a top ABC star.

“I am deeply optimistic about our company, and in a world that is so in need of entertainment is a true privilege,” said Disney boss Bob Iger today in a rare appearance on stage at the start of the media giant’s upfront presentation in New York City. “To run a company that is the embodiment of creative excellence, of great and bold storytelling, of quality, and of innovation.”

Cynthia Littleton Business Editor The WNBA begins its 28th season tonight with more buzz and interest in the game from casual hoops fans than the league has enjoyed since its launch year in 1997. WNBA insiders and boosters know this is an opportunity to make the most of, especially for the tip-off tonight with a double-header of games that getting an unusually wide platformby airing on ESPN 2 and Disney+.

Brian Steinberg Senior TV Editor After nearly 35 years with CNN, longtime Washington bureau chief Sam Feist has been named CEO of C-SPAN. Feist will remain at CNN through June and take the reins of C-SPAN later in the summer, succeeding co-CEOs Rob Kennedy and Susan Swain. Founded in 1979 by a group of cable operators, C-SPAN is devoted to televising the activity in the chambers of the U.S.

Brian Steinberg Senior TV Editor Amazon Prime Video isn’t waiting for the start of next week’s “upfront” to draw attention to women’s sports. The streaming giant said it has struck a sponsorship deal with AT&T that will have the telecommunications perennial serve as the lead sponsor for 21 WNBA games shown on Prime Video, and the presenting sponsor of the halftime show that airs during the service’s National Women’s Soccer League matches.

With Paramount Global and its assets currently in play, Nexstar CEO Perry Sook was asked on a call today if the nation’s biggest broadcast might look at CBS stations.

Bob Iger, CEO2023 compensation: $31.6M/+110.7%Median employee compensation $54,010Iger pay ratio to median employee: 595 It was a contentious time for the congenitally congenial Disney chief. First, he made some ill-considered remarks at Sun Valley, a conference for media barons held in a posh resort, characterizing striking actors’ demands as “not realistic.” Those words were slammed by SAG-AFTRA head Fran Drescher, with Iger becoming exhibit A for corporate greed.

The Anaheim City Council gave final approval today to DisneylandForward, the $1.9 billion, Disney’s multi-decade expansion plan for Walt’s original park. Today’s 7-0 procedural vote came after a unanimous vote approving the project in April. The zoning and other changes laid out by the plan to take effect in 30 days.

during a quarterly earnings call on Tuesday. “The team is one that I have tremendous confidence in,” he began.

Marvel Cinematic Universe in the future, according to the CEO of Disney.Bob Iger was speaking to Wall Street analysts when he confirmed that he plans to release no more than three new Marvel films per year, as well as only two television series in the MCU.The studio head said that the plan is part of an overall strategy at Disney to focus on quality rather than quantity, with that applying particularly to their Marvel properties.“We’re slowly going to decrease volume and go to probably about two TV series a year instead of what had become four and reduce our film output from maybe four a year to two, or a maximum of three,” he said. “And we’re working hard on what that path is.”He continued that the MCU will have “a couple of good films in ’25 and then we’re heading to more Avengers, which we’re extremely excited about.”“Overall, I feel great about the slate.

Brian Steinberg Senior TV Editor Audiences may not be the only thing about TV that continues to shrink. Advertisers are expected to once again press for “rollbacks,” or declines in the rates they pay for reaching streaming and TV viewers, in early “upfront” talks with TV networks, according to five media buying executives and other people familiar with these annual discussions in which U.S. media companies try to sell the bulk of their commercial inventory ahead of their next cycle of programming.

It’s not really news to say that Disney CEO Bob Iger is going to be a bit more hands-on with Marvel Studios in the future. The executive has made several comments in the past about reducing the number of projects the studio releases, as well as making sure the films and TV series that are released are of the best quality.

Disney will add select live games and studio shows from ESPN to its flagship streaming service Disney+ by the end of 2024, CEO Bob Iger announced this morning.

Disney CEO Bob Iger said the company will limit its output of Marvel movies to “two good films” a year — three maximum — from about four and also cut the numbers of TV series spinoffs for the franchise.