COVID Dealt Movie Theaters a 'Severe Injury That Maybe Doesn't Heal,' according to Bob Iger

COVID Dealt Movie Theaters a 'Severe Injury That Maybe Doesn't Heal,' according to Bob Iger ...

In a talk with the New York Times Kara Swisher, former Disney CEO discussed the fate of, competing with Netflix and yes, the metaverse.

Because I am not working for Disney, I am liberated, I can say anything about anyone, Iger joked during the conversation, adding that he was reluctant to simplify anyone out.

Despite being honest, he thought about the fate of movie theaters, which he believes will be permanently altered by the pandemic and the rise of services.

Iger said consumers will be "more discerning about what movies they want to see out of the home." "I dont think its the death [of theatrical ], but I think it's a severe injury that might not heal."

On the Times' Sway podcast, Iger claims that there are fewer films coming to the big screen.

Iger emphasized the rise of streaming and the desire to get Disney into the space with Disney+, but he also discussed an epiphany he had about Netflix, which at one point had the streaming rights to Disney's movies.

They were helping to build their platform on the back of our movies, and they deserve a lot of credit, Iger said. We are basically selling nuclear weapons technologies to a third-world country, and now they are using it against us.

When Rupert Murdoch contacted Iger and discussed the idea, Iger knew that the deal would be necessary to be competitive in the streaming industry.

I was thinking at the time, knowing that we were going to launch Disney+ and enter the streaming business, that if we had National Geographic and The Simpsons and Avatar and the whole library, we would have the scale to [compete], he said.

Despite their significant investment in content, he expressed his anger for large tech companies to compete.

There is no question that deep-pocketed technology companies, Apple as a great example, and Amazon as a company, have figured out that if they have great intellectual property, if they tell great stories, it will help their businesses, Iger said. I dont want to suggest they are loss-leader businesses, but they are in those businesses for other reasons.

The tech world shifts toward the next phase of the internet, such as the metaverse and Internet 3.0, but he believes that Disney has a crucial piece of the puzzle.

To survive in an Internet 3.0 world, you need to have some really exciting intellectual property, he said. I think that Internet 3.0, which will certainly be a more powerful experience, certainly more immersive and dimensional, will be a lot to that in terms of a future, call it a metaverse.

Despite his belief, he considered that the "toxic culture" on platforms like Twitter and Facebook may only degrade in that hypothetical future.

Iger said I am thinking about telling my kids that they should think about using technology tools for moderating behavior in Internet 3.0.

Bob Chapek, the CEO of The Hollywood Reporter, has leaned on data for his decision-making, though he maintains that storytelling excellence remains a pillar of the company.

In a world and business that is awash with data, it is tempting to use data to answer all of our questions, including creative questions, he said at the retreat.

Iger extended his comments to Swisher, saying that while it's possible to discover what people like about something after the fact, creative decisions must be made based on some level of motivation.

If we had tried to mine all the data that we had at the time, to determine whether or not to make a superhero movie that was about, in fact, a black cast, the data would have said didnt do that, and Black Panther never would have been made, he said.

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