According to a report from The Information, MasterClass spent $100,000 to recreate Bob Iger’s office when they filmed the CEO’s classes.
MasterClass launched Iger’s 13-lesson course in 2019, just before he originally stepped down as CEO of The Walt Disney Company. The MasterClass is a total of 2 hours and 11 minutes with the following description.
In an era of disruption, Disney CEO Bob Iger led one of the world’s most beloved brands to unprecedented success with the acquisitions of Pixar, Marvel, and Lucasfilm. Now, through case studies and lessons from 45 years in media, Bob teaches you how to evolve your business and career. Learn strategies for expanding a brand, leading with integrity, and making big moves—from risk management to the art of negotiation.
Iger told Variety at the time, “I’ve had some great teachers and have learned many lessons. With my MasterClass, I want to give back and impart what I’ve learned throughout my career.”
When the course launched, it could be accessed for a flat rate of $90, or via a $15/month MasterClass subscription. It’s now available only via a MasterClass subscription, which starts at $120 a year or 4 payments of $30.
When filming Iger’s course, MasterClass wanted to use his real office, but it didn’t work logistically as a set. So they instead opted to build a replica of the office in a conference room elsewhere on the Disney campus. One of The Information’s sources said MasterClass spent about $100,000 on just the set. Disney didn’t charge them for renting the space, but with everything else factored in, the shoot cost MasterClass about $850,000 — before paying Iger to teach the class.
MasterClass was growing rapidly at the time, and had a surge in subscriber growth during the first two years of the COVID-19 pandemic. A former employee said the average MasterClass shoot cost around $1 million to film and edit a few years ago.
Now interest in the courses hosted by A-listers is dropping off. MasterClass cut their number of employees down from 600 to 300, including much of the production team, and has begun out-sourcing most of their filming.
MasterClass spokesperson Beth Swierk said, “Like many other companies, over the past 15 months we have had to make difficult decisions related to headcount, and we have also focused on reducing costs and driving efficiencies within our business. Taken together, these actions have made MasterClass stronger—financially and strategically. Costs are down and our teams continue to innovate in content and formats.”
We don’t know if the $100,000 office set included Iger’s favorite private shower.
Bob Iger has gotten a lot of flack for his stance on the Writers Guild of America (WGA) and Screen Actors Guild (SAG) strikes. He called them “disturbing” and said that the union demands were “unreasonable.” Fran Drescher, president of the SAG, compared him to a medieval land baron. Memes and statements denouncing Iger took over social media. People felt he was out of touch. It wasn’t a good look for him.
At today’s Earnings Call, he backtracked on those statements. He said the studio’s relationship with the writers and actors is vital. Nothing is more important to the company than its relationship with the talented writers and actors in the industry.” He also vowed that he was “personally committed to doing whatever he can” to aid in coming to a resolution with both the Screen Actors Guild and the Writers Guild of America.
This attempt to smooth ruffled feathers comes on the heels of an earnings statement that is lackluster at best. Never before has there been such a loss in so many sectors of the company. It’s a dark time for the Walt Disney Company, but Iger remains confident that it will turn around.
One wonders about whether the comments from Iger are genuine, considering Disney is actively seeking to employ the very technology the strikes are fighting against. The WGA and SAG are currently striking, in part, to protect themselves and their jobs from Artificial Intelligence (AI) replacement. News broke recently that Disney is actively hiring AI programmers and platforms to perform writing and acting work.
The Walt Disney Company has found itself in some hot water with even its most devoted fans recently. Current company backlash includes Bob Iger’s out-of-touch comments about the entertainment strikes, creative decisions made on the new live-action adaptation of Snow White, and lackluster reviews of various Disney Plus projects. The director of the most recent Marvel Studios streaming series suggests “rabid” fans should lower their expectations around Disney’s content quality.
Marvel’s Secret Invasion is the latest Disney entertainment offering to garner mixed and ultimately disappointed reviews from excited fans. The series director, Ali Selim, basically blamed the negative response on fans’ high expectations. Here’s what he told Variety:
I don’t feel bad about mixed reviews. If you had unanimously good reviews, every movie would gross $10 billion, trillion dollars, right? [Projects] resonate with different people at different times for different reasons, and Marvel has a very devoted — even rabid — fan base who have expectations and when their expectations aren’t fulfilled, they move in the other direction; they give it a thumbs down.
He then questions, “Is it our job to fulfill their expectations?”
For many Disney and Marvel fans, the answer is…yes. The Walt Disney Company has set a certain standard for its content quality, and that is what customers loyal to the brand spend their hard-earned money on. If you want to make audiences happy, keep them speaking highly of your projects, and ultimately give you money, then you don’t ask them to lower their standards to make room for your mediocre content.
Selim is seemingly suggesting that Disney Plus subscribers pay the same amount for lower-quality content and praise it as if it was as good as the content that hooked them in the first place. This is while Disney Plus plans on price hikes and a supposed limit on the number of devices logged into one account.
Bob Iger mentioned a cutback on Marvel and Star Wars content, which will perhaps help with quality control, but Selim’s comments seem to highlight what may be going wrong with Disney’s current entertainment model.
“I wish Disney would stay out of politics and stick to what they do best.”
A multitude of Disney fans across the country has shared similar sentiments. As Disney has become the primary source of opposition to Florida Governor Ron DeSantis, many are pleading that the entertainment giant, The Walt Disney Company, keep its name out of public affairs. The same individuals who take this stance also have attributed many of Disney’s recent film failures and perceived low Park attendance to the company’s “woke” agenda. With some evidence that Disney has no problem being a high voice of influence in socio-political issues and hot-button topics, traditionalists have loudly called for Bob Iger, Disney’s returning CEO, to get back to the basic of what Disney does best, entertainment.
In a recent interview with CNBC, Bob Iger, who recently extended his tenure for two more years after replacing Bob Chapek as Disney’s chief executive officer, sat down with David Faber of ‘Squawk Box.’ As Disney’s fight with Ron DeSantis over the governor’s signing of Florida’s Parental Rights in Education Act has been a heavy-hitting story, Faber wasted little time bringing up the seeming feud between Disney and Florida Governor Ron DeSantis. Referencing a recent support rally outside the gates at Walt Disney World, Iger was quick to disrupt any idea that he would not address the heated debate around Disney versus DeSantis. Instead, he condemned the actions of the neo-Nazi protest calling them “horrifying.”
However, in the same sentence, Iger added that he did not want The Walt Disney Company drawn into a “culture war.” He also reinforced his desire to avoid any further conflict when asked about Disney’s First Amendment case against DeSantis that was filed in April.
“The last thing I want is for the company to be drawn into any culture wars. I’m not sure that was handled very well.”
As The Walt Disney Company has seen shares down, accompanied by the lowest holiday attendance to Walt Disney World in ten years, as well as multiple failing box office projects; Iger understands the internal issues. He recently noted that Disney would cut back on its overly saturated Marvel content. Iger also understands that the company’s outspoken approach to social issues may be part of the problem. However, Iger was clear that he is not concerned about Disney, specifically Walt Disney World’s worth in the long run, and that he feels strongly that the company has a First Amendment right to voice its views and opinions, or as some would call it, remains “woke.”
“The product has value.” Iger when discussing the worth of Walt Disney World who recently experienced notable attendance decrease.
However, Bob Iger’s repetition regarding Disney’s involvement in a culture war is significant. Iger, being the company’s leader (again), is aware of the clear lines drawn in the sand by Disney. As Walt Disney World is one of the most popular vacation destinations in the world yet sits in one of most prominent conservative strongholds in the United States, Iger remains careful about their approach to media and entertainment. Intensifying a divide between conservative-thinking families who haven’t boycotted Disney and liberal-based ideology is bad for business. Not only would this continue a downward trend in demand for Disney vacations, but the tension would boil over into the Parks themselves. We’ve potentially already see this with increased violence and adherence for rules.
Some would call a shift from boisterous opposition of state legislation, which has led to an escalation in lawsuits, cowardice, while others would call the opposite pandering. Either way, with his fear or worry regarding Disney being drawn into future cultural combat, Iger is unwilling to pick an individual side without considering the other. His fears are warranted as the company becomes more expensive while cost-of-living continues rising. As more and more people can’t afford to visit Walt Disney World, future engagment in an all-out war with Florida’s governor would not serve the best interest of the entertainment company. It’s best to step back, reevaluate, and get back to the basics. Iger’s continued emphasis on avoiding unnecessary conflict with the state of Florida and shedding their “woke” first approach could be a step in that direction for Disney.
The Walt Disney Company has announced the decision to extend CEO Bob Iger’s contract through December 31, 2026, meaning the so-called “boomerang CEO” hangs on.
Veteran Walt Disney Company employee and former Disney CEO Bob Iger retired on December 31, 2021, only to be reinstated less than 11 months later, following the removal of then-CEO Bob Chapek in November 2022. At the time of his reinstatement as CEO, Iger’s new contract was set to expire on December 31, 2023.
Since November, Iger has been tasked with righting the financial ship at the Disney Company, though another part of his responsibilities centered around assisting in the search for his successor and in mentoring that candidate before his departure. But recently, speculation about Disney keeping Iger on just a bit longer gave way to rumors about an announcement from Disney about Iger’s upcoming contract extension. (But then again, DisneyDining predicted such a move in April 2023.)
On Wednesday afternoon, Disney’s board announced that Iger’s contract has indeed been extended through December 31, 2026, adding an additional 24 months to the veteran CEO’s original plans to return to Disney in his former role. Disney’s formal announcement reads as follows:
The Walt Disney Company Board of Directors announced today that Robert A. Iger has agreed to continue to serve as Chief Executive Officer through December 31, 2026. In voting unanimously to extend Iger’s contract by two years, the independent members of the Board of Directors noted that Iger’s extension provides continuity of leadership during the company’s ongoing transformation and allows more time to execute a transition plan for CEO succession, which remains a priority for the Board.
“Time and again, Bob has shown an unparalleled ability to successfully transform Disney to drive future growth and financial returns, earning him a reputation as one of the world’s best CEOs,” said Mark G. Parker, Chairman, The Walt Disney Company. “Bob has once again set Disney on the right strategic path for ongoing value creation, and to ensure the successful completion of this transformation while also allowing ample time to position a new CEO for long-term success, the Board determined it is in the best interest of shareholders to extend his tenure, and he has agreed to our request to remain Chief Executive Officer through the end of 2026.”
Since my return to Disney just seven months ago, I’ve examined virtually every facet of our businesses to fully understand the tremendous opportunities before us, as well as the challenges we’ve been facing from the broader economic environment and the tectonic shifts in our industry. On my first day back, we began making important and sometimes difficult decisions to address some existing structural and efficiency issues, and despite the challenges, I believe Disney’s long-term future is incredibly bright,” said Iger. “But there is more to accomplish before this transformative work is complete, and because I want to ensure Disney is strongly positioned when my successor takes the helm, I have agreed to the Board’s request to remain CEO for an additional two years. The importance of the succession process cannot be overstated, and as the Board continues to evaluate a highly qualified slate of internal and external candidates, I remain intensely focused on a successful transition.”
Iger returned to the company in November of 2022 after serving as CEO and Chairman from 2005 to 2020, and then as Executive Chairman and Chairman of the Board through 2021. Since returning as CEO, he has led a significant, enterprise-wide transformation to restore creativity to the center of the company and position Disney’s streaming business for sustained growth and profitability. Throughout his time as the company’s chief executive, Iger’s strategic vision has focused on three fundamental pillars: generating the best creative content possible, fostering innovation and utilizing the latest technology, and expanding into new markets across the globe.
Widely recognized as one of the world’s most consequential business leaders, Iger has built on Disney’s rich history of unforgettable storytelling with the acquisitions of Pixar (2006), Marvel (2009), Lucasfilm (2012), and 21st Century Fox (2019); the landmark opening of Disney’s first theme park and resort in mainland China, Shanghai Disney Resort; and the release of a number of record-setting films, including Marvel’s Avengers: Endgame, Disney’s Frozen and Frozen 2, and Marvel’s groundbreaking Black Panther. Always one to embrace new technology, Iger made Disney an industry leader through its creative content offerings across multiple new platforms, including the highly successful launch of the Disney+ streaming service in November 2019.
Since my return to Disney just seven months ago, I’ve examined virtually every facet of our businesses to fully understand the tremendous opportunities before us, as well as the challenges we’ve been facing from the broader economic environment and the tectonic shifts in our industry. On my first day back, we began making important and sometimes difficult decisions to address some existing structural and efficiency issues, and despite the challenges, I believe Disney’s long-term future is incredibly bright,” said Iger. “But there is more to accomplish before this transformative work is complete, and because I want to ensure Disney is strongly positioned when my successor takes the helm, I have agreed to the Board’s request to remain CEO for an additional two years. The importance of the succession process cannot be overstated, and as the Board continues to evaluate a highly qualified slate of internal and external candidates, I remain intensely focused on a successful transition.”
Iger returned to the company in November of 2022 after serving as CEO and Chairman from 2005 to 2020, and then as Executive Chairman and Chairman of the Board through 2021. Since returning as CEO, he has led a significant, enterprise-wide transformation to restore creativity to the center of the company and position Disney’s streaming business for sustained growth and profitability. Throughout his time as the company’s chief executive, Iger’s strategic vision has focused on three fundamental pillars: generating the best creative content possible, fostering innovation and utilizing the latest technology, and expanding into new markets across the globe.
Widely recognized as one of the world’s most consequential business leaders, Iger has built on Disney’s rich history of unforgettable storytelling with the acquisitions of Pixar (2006), Marvel (2009), Lucasfilm (2012), and 21st Century Fox (2019); the landmark opening of Disney’s first theme park and resort in mainland China, Shanghai Disney Resort; and the release of a number of record-setting films, including Marvel’s Avengers: Endgame, Disney’s Frozen and Frozen 2, and Marvel’s groundbreaking Black Panther. Always one to embrace new technology, Iger made Disney an industry leader through its creative content offerings across multiple new platforms, including the highly successful launch of the Disney+ streaming service in November 2019.
