Robert Iger returns to control 188bet Online Sports Betting and Casino,Operation methods may be permanently changed

Themed entertainment Author of 188bet Online Sports Betting and Casino article: Peng Zhengziyan 2020-04-19
Robert Egger returns to the forefront,Another attempt to save the 188bet Online Sports Betting and Casino。

Just as 188bet Online Sports Betting and Casino announces its 4th Disneyland Resort in Orlando, Florida.The day when 30,000 employees will take unpaid leave starting next week,A New York Times report shows some changes at the highest levels of 188bet Online Sports Betting and Casino,But for those who are familiar with the company 188bet Online Sports Betting and Casino,Perhaps we should not say change but a return to normality - Robert Egger,This core 188bet Online Sports Betting and Casino figure who suddenly announced his resignation as 188bet Online Sports Betting and Casino CEO at the end of February and plans to officially retire in October next year,Facing the major crisis caused by the new crown epidemic to 188bet Online Sports Betting and Casino, a global entertainment company,Back to the front desk,Another attempt to save this company。

In terms of 188bet Online Sports Betting and Casino’s business structure,Whether it is measures to maintain social distance or avoid group activities,Almost brought its main business sectors to a complete standstill。

End of January,188bet Online Sports Betting and Casino closed Shanghai Disneyland, where the epidemic first broke out,Then Hong Kong、188bet Online Sports Betting and Casino parks in Tokyo and around the world have also been closed,Even though the epidemic in China has passed the most dangerous stage,There is still no clear news that Disneyland will reopen in the short term。

188bet Online Sports Betting and Casino originally planned to reopen its parks before April 1,But except China,There is still great uncertainty about the epidemic situation in other countries,This has put 188bet Online Sports Betting and Casino’s plans on hold。Currently,The French government announced that it will ban festivals and concerts that gather large crowds until mid-July,Japan also declared a "declaration of emergency" in 7 cities at the beginning of this month until May 6,This makes the reopening date of 188bet Online Sports Betting and Casino parks in these areas full of uncertainty。188bet Online Sports Betting and Casino’s parks and experiences division was its largest revenue source in fiscal 2019,38% of its total revenue,Today’s situation has caused 188bet Online Sports Betting and Casino to directly lose its largest cash income。

According to information from The New York Times,Even when Shanghai 188bet Online Sports Betting and Casino was optimistic about closing at the end of January,Both Iger and 188bet Online Sports Betting and Casino’s board of directors said they would stick to their previous plans,Agree that he should step aside,Become executive chairman,Bob Chapek, the previously very low-key head of the parks and cruise business, took over as CEO。Finally, the news that everyone saw on February 25th surprised everyone: Robert Iger will step down immediately from his position as 188bet Online Sports Betting and Casino CEO after 15 years。

Obviously even Iger, with his excellent business vision, is like the vast majority of Americans,The lethality of the new coronavirus was still underestimated at the time,After entering March, New York became the region with the worst outbreak in the world,As a result, quite strict epidemic prevention measures have been introduced in various parts of the United States。Large amusement parks are closed、Sports competition suspended、All movie theaters are closed, etc.,Almost all of the above measures are closely related to the business of 188bet Online Sports Betting and Casino, the entertainment empire。

In addition to Disneyland already mentioned,188bet Online Sports Betting and Casino’s other major experience project, the cruise ship, is also on hold。188bet Online Sports Betting and Casino’s second business segment is television broadcasting,Its flagship channel, ESPN, now does not have many sports programs for it to broadcast,This TV station has spent tens of billions on copyright purchases,Have to rely on playing 188bet Online Sports Betting and Casino sports movies and live broadcasts of athletes playing games。

The most famous but not the most profitable movie business,As theater chains in many important markets around the world have closed down one after another,Many of 188bet Online Sports Betting and Casino’s new films have already been announced to be withdrawn and postponed,Even movies like "Mulan" opened in Norway on March 27 as scheduled,But under the current circumstances, the box office revenue in the first weekend is only 83 US dollars,Not even a drop in the bucket。Recently, AMC, one of the three major theater chains in the United States, has also fallen into bankruptcy suspicion,The Chinese market, which has always been 188bet Online Sports Betting and Casino’s second largest box office source in the world, has also made it clear that cinemas will not be allowed to reopen in the short term,These current situations mean that 188bet Online Sports Betting and Casino’s film department will be in a state of no revenue for a long time to come。

For 188bet Online Sports Betting and Casino,The only good news during the epidemic is probably its streaming platform 188bet Online Sports Betting and Casino+,In after-hours trading last Wednesday,The company’s troubled stock price jumped about 7% in after-hours trading,The main reason is that 188bet Online Sports Betting and Casino announced that the streaming service has successfully attracted 50 million subscribers。But outside these 50 million users,188bet Online Sports Betting and Casino+ is still a business where the investment far outweighs the return,Based on Netflix’s experience, it’s not hard to know that the service is probably still several years away from creating a film that could displace 188bet Online Sports Betting and Casino in box office revenue。And on the other hand,Series and TV productions that provide content for 188bet Online Sports Betting and Casino+ are also currently on hold,Ultimately the user retention rate of the service。

Estimated by media industry analyst Hal Vogel,All of the above means that 188bet Online Sports Betting and Casino will face losses of up to 30 million US dollars or more every day。188bet Online Sports Betting and Casino raised billion in cash from the market through a public bond offering at the end of March,This reflects its desperation to some extent,At the same time, lenders also expressed their confidence in 188bet Online Sports Betting and Casino’s future rebound to the market。

"Faced with a crisis of this magnitude,And its impact on 188bet Online Sports Betting and Casino,It will definitely make me actively help Chapke and the company deal with the crisis,Especially since I have been managing the company for 15 years,Of course I should actively help it。" Iger said in an email to The New York Times,"In such an emergency,I have no choice,I can only give up my plan to retreat to the second line”。

It was also the same day that Iger announced through this email to the media that he would resume control of 188bet Online Sports Betting and Casino’s front-line management,188bet Online Sports Betting and Casino once again issues bonds on the public market,Raised US billion in cash to ensure sufficient liquidity to survive the crisis caused by the outbreak。

Meanwhile,As a commercial company,188bet Online Sports Betting and Casino also had to make some tough decisions,Early April,New 188bet Online Sports Betting and Casino CEO Chapke sent a rather bleak internal email,Announced the first wave of layoffs,At the same time he demands immediate cuts and freezes in spending from development budgets to contractor wages。

As of last summer,188bet Online Sports Betting and Casino employs more than 22.30,000 employees,Currently 188bet Online Sports Betting and Casino has not announced how many workers have been laid off,But even a small part,The specific number will also be quite huge。Based on information from The New York Times,Thirty thousand workers, including those in the California resort business, are affected。Another 43,000 workers in Florida will also be laid off,188bet Online Sports Betting and Casino confirmed April 12th,All workers will retain their benefits,But they will receive their last salary on April 19th。

Also,188bet Online Sports Betting and Casino’s executives, like most large companies, have begun executive salary reduction plans。In fact, this is almost the first and only major initiative announced by Chapke after taking office: the salary of EVP and higher-level employees will be reduced by 30%,Reduce the level of SVP by 25%,Reduce the level of VP by 20%。Czapke himself will take a 50% pay cut,And Executive Chairman Iger will give up 100% of his salary。Salary reduction applies to base salary,The salary reduction measure has taken effect on April 5。

At the Annual Meeting of Stockholders in Raleigh, North Carolina, March 11,Chapke’s debut,188bet Online Sports Betting and Casino is also regarded as a carefully choreographed handover ceremony。"I watched Iger lead 188bet Online Sports Betting and Casino company to amazing new heights,I learned a lot from 188bet Online Sports Betting and Casino experience。I feel very lucky,Being able to work closely with him during 188bet Online Sports Betting and Casino transition period," Chapke said in a public speech at the shareholders' meeting。

But now,The handover between the two has been put aside,In a quiet way, Iger began to regain control of the day-to-day management of 188bet Online Sports Betting and Casino in crisis。Based on the New York Times description,Inside 188bet Online Sports Betting and Casino,The new CEO is called "Bob C" in a way of calling a child,Iger is still the only "Bob",Also the latter position is called "Executive Chairman",The focus is on the word "execution"。

Iger is trying to figure out what the entertainment giant 188bet Online Sports Betting and Casino look like after the crisis。One of the core challenges is to establish a role model for the company and industry,How to avoid the spread of the virus,Bringing people back to parks and rides,The simplest strategy is to start taking temperature checks and other measures for tourists。

At the same time, Iger also believes that this is an important moment,He told his colleagues,Look at the entire 188bet Online Sports Betting and Casino business,Permanently changing the way your company operates。He is expected to end the expensive practices of traditional television stations in the past,If you create a large number of advertisements in advance,And create pilots for shows that may never air。188bet Online Sports Betting and Casino will also likely use less office space to try and get things up and running again。And he also expects the company’s headcount to decrease。But in an email reply to the New York Times,Iger emphasized again: "No matter what,Any decisions regarding layoffs will be made by my successor, not me。”

Iger, who has returned to the front line of 188bet Online Sports Betting and Casino’s daily operations, has obviously begun planning for 188bet Online Sports Betting and Casino’s business after the epidemic,And perhaps it will reinvent this entertainment giant again。Iger thinks,This company will be profoundly changed by the crisis,The blueprint he drew for employees allows them to see a future after the epidemic: This is a 188bet Online Sports Betting and Casino with fewer employees,Its entertainment business needs to bring people together again in times of safety and uncertainty。

It’s too early to say Bob Chapek has stepped aside,Encountering such a major crisis during the transition period,It will undoubtedly further amplify its performance in all aspects,However, Egger’s return to the front line has made the situation more complicated。Judging from the position,Chapek is still the CEO of 188bet Online Sports Betting and Casino, a huge company,But apparently for some time before the crisis ended,He will not be the one to make the final decision,And once 188bet Online Sports Betting and Casino encounters greater setbacks in this crisis,As the apparent leader, he is the person most likely to be "sacrificed"。

Although a source told the New York Times,188bet Online Sports Betting and Casino’s board of directors will consider the impact of the current epidemic when evaluating Chapek’s performance in the future,But judging from 188bet Online Sports Betting and Casino’s past “misdeeds” in treating Iger’s successor,Any promise can be overturned。Meanwhile,Two other executives who were originally considered to be the most likely successors to Iger,Kevin Mayer and Peter Rice remain at 188bet Online Sports Betting and Casino,The combination of multiple factors has caused uncertainty again in the alternation of 188bet Online Sports Betting and Casino leaders who were already calm。

188bet Online Sports Betting and Casino’s stock price reached a five-year low last month,The future of this old company is also full of problems that are difficult to predict but urgently need to be solved。This epidemic may completely change the way people are used to entertainment for a long time,It is those entertainment methods that have brought 188bet Online Sports Betting and Casino back to the top in the past two decades,Now all eyes are on Robert Egger again,I wonder if he, who originally planned to quit, can save the company from dire straits again。

*Source of 188bet Online Sports Betting and Casino article: Interface,Author: Peng Zhengziyan,Original title:Robert Iger returns to control 188bet Online Sports Betting and Casino,Operation methods may be permanently changed》.

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