During an interview on CNBC’s “Squawk Box,” Disney CEO Bob Iger expressed his concerns about the ongoing strikes by writers and actors in Hollywood, stating that their expectations are unrealistic.
Bob Iger emphasized that this is the worst time to add further disruption to the industry, given the challenges of recovering from the COVID-19 pandemic. He acknowledged the desire of labor organizations to secure fair compensation for their members but highlighted that the writers’ and actors’ expectations are not aligned with the business reality. He said, “There’s a level of expectation that they have, that is just not realistic. And they are adding to the set of the challenges that this business is already facing that is, quite frankly, very disruptive.”
Regarding the potential SAG-AFTRA strike, which would halt scripted film and TV production, Iger warned of the significant damage it could cause to the entire industry. He stressed that there would be collateral damage suffered by those in supportive services and even regional economies due to the size of the business.
“It will have a very, very damaging affect on the whole business, and unfortunately, there’s huge collateral damage in the industry to people who are supportive services, and I could go on and on. It will affect the economy of different regions, even, because of the sheer size of the business. It’s a shame, it is really a shame.” Iger expressed on Squawk Box.
These comments follow the recent announcement that Iger will stay on as Disney CEO through 2026, extending his tenure beyond the initially planned departure at the end of next year. Overall, Iger’s remarks reflect his concern about the strikes, cautioning the unions to consider the realistic business environment and the potential damaging consequences for the industry as a whole.
