Disney's Studio Acquisition Days Are Over For Now, According To Bob Chapek
It seems that Disney is finally taking a breather from having complete domination of the entertainment industry. The company has become infamous for acquiring numerous film studios to be a part of its operations, including Pixar, Marvel Studios, Lucasfilm, and 21st Century Fox. And this doesn't even include its numerous television and streaming acquisitions, including ESPN, Freeform, FX, Hulu, and National Geographic. As a result, the company is home to some of the most well-established brands and franchises in the world, including "Avatar," the Marvel Cinematic Universe, "The Simpsons," "Star Wars," and "X-Men."
The overwhelming number of properties owned by the company is unprecedented in the entertainment world, something that has been a source of concern. Several critics worry that with the high number of franchises owned, Disney could have further control over the box office and release dates (via The Wellesley News). However, recent developments indicate that the company is finally taking its foot off the gas pedal.
Disney is in a good place of stability
CEO Bob Chapek has expressed that the Walt Disney Company is not seeking to acquire any new film studios or television networks at the moment (via Variety). "We have the best creative teams, the best brands and franchises in the world. We're quite happy to have the output level across our channels without having to be a buyer in the open marketplace," Chapek stated at the WSJ Tech Live conference. "Our plan is to have all our content creation self-contained."
Chapek, who previously held the position of Chairman of Disney Parks, Experiences and Products, stepped in as CEO following Bob Iger's departure from the role in February 2020 (via The Walt Disney Company). Immediately following his promotion, Disney went through numerous hardships, mainly due to the COVID-19 pandemic, including the temporary closure of all its theme parks and the delay of many of its film productions. The company even closed the 20th Century Fox animation division Blue Sky Studios in April 2021 (via Deadline).
However, with the pandemic lightening up, Chapek said at the WSJ Tech Live conference that Disney's productions have found a level of stability. "Now we can very thoughtfully plan the amount of content we need for each channel," he added.