Even when COVID-19 finally, happily and at long last becomes a thing of the past, the distribution shifts it helped usher in across the movie business may be here to stay, Walt Disney Company CEO Bob Chapek said on Wednesday."We know that we're in a time of flux," Chapek told analysts on a conference call shortly after the company reported its quarterly results. "COVID will be in the rear-view mirror, God willing, [in 2022], but changing consumer behavior is a...
The Walt Disney Company
Bob
Chapek
CEO
A vet of Disney¡¯s home video and parks divisions since 1993, Chapek has had a wild ride since being handed the keys to the Magic Kingdom in February 2020 after longtime Disney CEO Bob Iger transitioned to executive chairman for the last leg of his contract. The following month, the pandemic shuttered Disney parks worldwide and pushed the pause button on movie releases. When the world emerged from lockdown in 2021, the business Chapek was tasked to run had been fundamentally altered, with an emphasis on streaming over theatrical distribution (resulting in a lawsuit by star Scarlett Johansson over ¡°Black Widow¡± profits) and theme parks still compromised by the coronavirus. But as long as Disney+ is thriving, Chapek has a place to hang his hat.