Yahoo Finance Disney boss Bob Iger tipped to be Biden's UK ambassador
Disney's online streaming service Disney+ has gained 100m paying subscribers in just 16 months, passing a milestone that took Netflix 10 years.
Chief executive Bob Chapek told shareholders yesterday that the media giant planned to launch more than 100 new films and TV shows this year, hailing the "enormous success" of its streaming arm, which now has half as many subscribers as Netflix.
In the same meeting, longtime boss and current executive chairman Bob Iger confirmed that he would leave the company in December after 26 years, fuelling speculation that he will become the next US ambassador to the UK.
President Joe Biden's press secretary Jenn Psaki refused to deny that Mr Iger was in the running yesterday, telling reporters that Mr Biden had "not made any decisions".
Mr Iger, who stepped down as Disney's chief executive last February after leading Disney's global empire since 2005, was previously tipped by the Wall Street Journal as a potential ambassador to China.
#WhiteHouse Press Secretary @jrpsaki was just asked if #Disney Exec Chair & former #CEO @RobertIger will be named US Ambassador to the UK...
"@Potus has not made any decisions"
So does that mean he is being considered? 🤔$dis— Susan Li (@SusanLiTV) March 9, 2021
Mr Chapek said: “The enormous success of Disney+ — which has now surpassed 100 million subscribers — has inspired us to be even more ambitious, and to significantly increase our investment in the development of high-quality content.
“Our direct-to-consumer business is the company’s top priority, and our robust pipeline of content will continue to fuel its growth.”
He also paid tribute to Mr Iger, saying: “I want to take a moment to express my deep appreciation for his leadership and mentorship… Bob has led this company to amazing heights over the years and I look forward to continuing his incredible legacy.”
Mr Iger praised his successor in turn, saying he would leave with “a strong sense of pride” and saying he was confident that Mr Iger would adhere to the same principles.
A move into politics would not be unprecedented for Mr Iger, who has said that he seriously considered running for president in the 2020 US election. He was a major fundraiser for Hillary Clinton and advised Donald Trump before resigning over climate policy.
In December, he told Bloomberg that he would consider a role in Mr Biden's administration, saying: “Giving back in some fashion, serving our country in some fashion, is certainly something that I would consider seriously.
“But a lot of it would depend on what it is, what the opportunity is, and whether I thought it would be something that I would both be stimulated by and be good at.”
The 69-year-old New Yorker has long been slated to leave the company at the end of 2021, having repeatedly attempted to step down as chief executive before his fifth attempt succeeded last year. He had previously been head of the TV network ABC, bought by Disney in 1995.
He is widely credited with turning Disney into the sprawling media hegemon that is today, overseeing its acquisition of Pixar, the Marvel superhero franchise, the Star Wars universe and 21st Century Fox.
Online streaming was his last and most successful big bet, with Disney+ launching only five months before the US locked down. Mr Iger had to resign from Apple's board of directors to avoid a conflict of interest with its similar Apple TV+ service.
