Bob Iger on Strikes: Writers/Actors 'Not Realistic,' 'Very Disturbing' (original) (raw)

In a wide-ranging interview with CNBC’s “Squawk Box” July 13, a day after he signed an extension through 2026 to his contract as Disney CEO, Bob Iger sounded off on a number of issues while attending the Allen & Co. Sun Valley Conference: the continued lack of profitability of the streaming market, ESPN’s future, his company’s lawsuit against Ron DeSantis, and whether departures from Pixar, such as John Lasseter, may have affected the quality and box office appeal of their films.

But the soundbite that may get the most attention is his comments about the writers and actors strikes, comments that stand in stark opposition to the demands of the respective guilds. The CEO even suggested that the unions are threatening the film and TV industry’s long-term post-COVID recovery.

“It’s very disturbing to me,” Iger said of the WGA having been on strike for over two months and SAG-AFTRA about to strike. “We’ve talked about disruptive forces on this business and all the challenges we’re facing, the recovery from COVID, which is ongoing. It’s not completely back. This is the worst time in the world to add to that disruption. I understand any labor organization’s desire to work on behalf of its members to get the most compensation and be compensated fairly based on the value that they deliver. We managed, as an industry, to negotiate a very good deal with the Directors Guild that reflects the value that the directors contribute to this great business. We wanted to do the same thing with the writers, and we’d like to do the same thing with the actors. 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.”

When the interviewer David Faber asked for clarification about why exactly the writers and actors are “not being realistic,” Iger said, “I can’t answer that question.”

“Again, I respect their right and their desire to get as much as they possibly can in compensation for their people,” Iger added. “I completely respect that. I’ve been around long enough to understand that dynamic and to appreciate it. But you also have to be realistic about the business environment and what this business can deliver. It is and has been a great business for all of these people and it will continue to be even through disruptive times. But being realistic is imperative here.”

“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.”