Posts tagged with "Disney CEO Bob Iger"

Advertisers say they do not plan to return to X after Musk’s comments

December 4, 2023

Advertisers said on Thursday, November 30, that they did not plan to reopen their wallets anytime soon with X, the social media company formerly known as Twitter, after its owner, Elon Musk, insulted brands using an expletive and told them not to spend on the platform, reports The New York Times.

At least half a dozen marketing agencies said the brands they represent were standing firm against advertising on X, while others said they had advised advertisers to stop posting anything on the platform. Some temporary spending pauses that advertisers have enacted in recent weeks against X are likely to turn into permanent freezes, they added—noting that Musk’s comments giving them no incentive to return.

Advertisers are “not coming back” to X, said Lou Paskalis, the founder and chief executive of AJL Advisory, a marketing consultancy. “There is no advertising value that would offset the reputational risk of going back on the platform.”

Musk has repeatedly criticized and alienated advertisers since buying Twitter last year. At one point, he threatened a “thermonuclear name & shame” against advertisers who paused their spending because they were concerned about his plans to loosen content moderation rules on X.

In recent weeks, more than 200 advertisers had halted their spending on X after Musk endorsed an antisemitic conspiracy theory and researchers called attention to instances of ads appearing alongside pro-Nazi posts on the platform. The company, which has made most of its revenue from advertising, is at risk of losing up to $75 million this quarter as brands back away.

The situation was compounded on Wednesday when Musk made incendiary comments against advertisers at the DealBook Summit in New York. In a wide-ranging interview at the event, Musk apologized for the antisemitic post, calling it “one of the most foolish” he had ever published, but also said that advertisers were trying to “blackmail” him. He singled out Bob Iger, Disney’s CEO, who also attended the DealBook Summit.

“Don’t advertise,” Musk then said, using an expletive multiple times to emphasize his point.

Hours later, Linda Yaccarino, X’s chief executive, tried to mitigate the damage. In a post on X, she shifted attention to Musk’s apology for associating himself with antisemitism and appealed to advertisers to return.

“X is enabling an information independence that is uncomfortable for some people,” Yaccarino wrote. “X is standing at a unique and amazing intersection of Free Speech and Main Street—and the X community is powerful and here to welcome you.”

A representative for X did not respond to a request for comment.

Among the brands that have been big spenders on X and that have recently halted their campaigns are Apple, Disney, and IBM. Other brands have remained, including the National Football League and The New York Times’ sports site, The Athletic.

At the DealBook event on Wednesday, Musk acknowledged that an extended advertiser boycott could bankrupt X. But the public would blame the failure on brands, he said, not on him.

“I will certainly not pander,” he said.

Research contact: @nytimes

Private jets are descending on Sun Valley as the ‘summer camp for billionaires’ kicks off

July 13, 2023

Private jets have already begun piling up outside the small town of Sun Valley, Idaho, as some of the world’s most powerful people—among them, Bill Gates, Jeff Bezos, Bob Iger, Oprah, and Mark Zuckerberg—head to Allen & Co’s annual conference, also known as “summer camp for billionaires.”

Business Insider reports that the Friedman Memorial Airport has already begun experiencing delays from the traffic ahead of the event, which is set to kick off on Wednesday, July 11 and go through Friday, July 14. As of Tuesday afternoon, the airport was experiencing inbound-flight delays averaging about 1 hour and 55 minutes, the flight-tracking website FlightAware reported. Flights departing from the airport don’t appear to be affected.

A spokesperson for the airport did not respond to a request for comment ahead of publication. The Federal Aviation Administration declined to comment because the agency says it does not manage the airport.

Since Tuesday morning, more than 40 private jets have flown through the nearby Friedman Memorial Airport ahead of the conference, with at least another 100 scheduled to arrive throughout the day, FlightAware said. Some planes associated with companies such as Nike already have landed in Sun Valley. Disney CEO Bob Iger was also pictured arriving at the event Tuesday.

The New York Times reported that more than 300 flights passed through the airport last year. For reference, the airport accommodates about 40 planes on a typical day. In 2021, the airport was so swamped with private jets that the FAA delayed incoming flights until traffic dropped.

Most of the incoming flights are operated by NetJets—a private-charter company that is the world’s biggest by fleet size and operates Embraer Phenoms and Cessna Citations alongside the giant $75 million Bombardier Global 7500.

It’s common for deep-pocket flyers to use private operators such as NetJets because it’s harder to track their location. Apple CEO Tim Cook—who is on the guest list for Sun Valley 2023—has been flying on charters instead of the company’s corporate planes since 2017.

Apple previously said the policy was implemented “in the interests of security and efficiency based on our global profile and the highly visible nature of … Cook’s role as CEO.”

The world’s richest man, Bernard Arnault, has been avoiding the public eye after selling his private jet in October because of security concerns. It’s unclear whether the LVMH Moët Hennessy Louis Vuitton CEO will attend this year’s summit.

Chris Pomeroy, the director of Friedman Memorial Airport, told the Times last year that he had spent months preparing for the conference in Sun Valley—a town with a population of 1,800. If he’s not careful, he said the event could cause major backups at the airport.

Pomeroy said there had been times when jets were forced to circle over the airport or park on the tarmac for more than an hour while waiting for the runway to open up.

The event has previously been the backdrop for several major business deals, including Jeff Bezos’ purchase of The Washington Post and Disney‘s $19 billion ABC acquisition. Executives spend time at the summit taking part in tennis matches, golf outings, whitewater rafting, and sessions on subjects including creativity and the climate crisis.

This year’s guest list for the event reportedly includes several major players. Google CEO Sundar Pichai and OpenAI CEO Sam Altman are expected to attend the event alongside Jeff Bezosaccording to Bloomberg. Meta CEO Mark Zuckerberg and the Microsoft cofounder Bill Gates are also on the guest list, Variety reports.

Research contact: @BusinessInsider

Streaming bundle of Disney+, Hulu, and ESPN+ will cost $12.99/month

August 9, 2019

Walt Disney CEO Robert Iger wants to ensure that” The Happiest Place on Earth” for U.S. entertainment viewers is the spot in front of their  television screens: He just announced that the company’s new .content-streaming service will include Disney Plus, and ESPN Plus, as well as Hulu—and will cost just $12.99 per month.

The service will be available starting November 12, according to a report by CBS News.

That’s almost twice the monthly fee that Disney projected in April, when the company said the Disney Plus alone would cost $6.99 per month, or well below the $12.99 monthly fee charged by Netflix for its most popular streaming plan. But because Hulu and ESPN Plus cost about $6 and $5 per month, respectively, the bundle of three services represents a $5 monthly savings—and the price is a “wash” when compared with the most popular plan offered by Netflix. 

By bundling the three services, Disney is taking aim at Netflix and Amazon Prime Video with a combination of family-friendly content, new TV shows and sports broadcasts, CBS News notes.. Netflix’s premium plan is $15.99 per month, while its most popular plan is $12.99 per month. Amazon Prime Video is available to consumers who pay $119 per year for Amazon’s Prime service.

The goal, Iger said on a Tuesday, August 7, conference call with investors and media, is to “have general entertainment, we’ll call it Hulu, more family-like entertainment, which is Disney+, and sports.”

He added, “And that bundle that we’re creating, that $12.99 bundle, where you can buy all three offers consumers tremendous volume, tremendous quality, and tremendous variety for a good price.”

Disney has said its 2019 movies and all films released afterwards will be streamed only on Disney Plus. That includes “Captain Marvel,” which came out earlier this year; “Avengers: Endgame,” which debuts in late April; and the upcoming “Toy Story 4; as well as the ” live-action movies, “The Lion King” and “Aladdin;” and “Star Wars Episode IX.”

Research content: @Disney