Disney’s Bob Iger Blasts ‘Disturbing’ Strike Demands From Hollywood Writers And Actors: They’re Not ‘Realistic’
Disney CEO Bob Iger spoke boldly about “disturbing” strikes from the writers guild with a possible strike by the actors guild on the horizon, calling their demands “not realistic.”
The exchange took place on the Thursday edition of CNBC’s Squawk Box — where Iger spoke with David Faber about the strikes and the future of Disney.
Faber asked about Iger’s expectations for how the strikes could impact the industry as a whole. The WGA has been on strike since May 2 with the actors guild expected to strike as soon as this week.
“I think it’s very disturbing to me. We’ve talked about disruptive forces on this business and all the challenges that we’re facing in 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,” Iger said.
“I understand any labor organization’s desire to work on the behalf of its members to get the most compensation to be compensated fairly based on the value that they deliver,” Iger added, noting the deal that was struck with the directors guild not long ago.
Iger pointed to unrealistic expectations as the reason behind the delay.
“There’s a level of expectation that they have that is just not realistic, and they are adding to a set of challenges that this business is already facing that is quite frankly, very disruptive,” Iger said.
When asked why they are being “unrealistic,” Iger said he could not answer the question.
“I respect their right and their desire to get as much as they possibly can in compensation for their people. 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 it with 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, you know, being realistic is imperative here,” Iger insisted.
When asked what will happen in the interim, Iger forecasted that the strike could be damaging to the entire entertainment economy.
“It will have a very, very damaging effect on the whole business. And unfortunately there’s huge collateral damage in the industry to people who are support services. I could go on and on. It will affect the economy of different regions even because there’s the sheer size of the business. It’s a shame. It is really a shame,” Iger said.
Watch above via CNBC’s Squawk Box.
