From Pixar to Marvel to Lucasfilm, Disney’s Bob Iger defied expectations, acquiring world-renowned brands and meshing them seamlessly with the House of Mouse.
In Part 2 of our epic conversation with Iger, Disney’s executive chair and former CEO, we delve into the next phase of the process, how he helped build a diverse, sustainable ecosystem for Disney companies in the China market, and how all the lessons learned played out in the massive acquisition of 20th Century Fox.
I think it’s important to surround yourself with great people. I’ve been very fortunate in my career to have worked with some of the most talented people in the world.
Managing acquired brands
Building a diverse and sustainable ecosystem, where different species (or employees) thrive and work together towards a shared goal, can help businesses achieve lasting success in times of change and conflict.
Manage acquired brands separately while bringing them together when it adds value, without impacting consumer perception. Theme parks are vital in Disney’s ecosystem for creating live, immersive experiences that deepen brand love.
I think it’s important to never give up on your dreams. If you have a dream, you should go for it. I also think it’s important to have fun. If you’re not having fun, you’re probably not doing the right thing.
New markets for Disney
To access the Chinese market, Disney recognized the importance of creating a theme park in China as a means of establishing a presence and growing its movie presence. They also partnered with the Chinese government to navigate the complex process of building in China.
Incorporating local culture, building strong partnerships, and embracing technology are key to success for businesses entering new markets.
It takes a little guts, particularly to say to someone like George Lucas, “Do you want to sell your baby?
Collaboration during crisis
By bringing all their brands together in one ecosystem and excluding mature content, Disney ensures every touch point brings delight. Their strong streaming strategy reflects their success as a parent company, creating a sustainable environment for generations to come.
In the face of a crisis, collaboration and diversification can help a company weather the storm. Acquisitions and a culture of innovation have allowed Disney to adapt and thrive in challenging times.
The power of birds to inspire business strategy
Birds are the closest living relatives of dinosaurs, and they can be just as fierce and competitive. They fight over food and territory, and smaller birds may fall prey to other bird species or introduced predators like cats. However, when a habitat is threatened, different bird species will come together to fend off threats and protect their shared ecosystem.
Just like in business, building a diverse and sustainable ecosystem can help weather the storm of change and conflict. By creating a habitat that allows different species (or employees) to thrive and work together towards a shared goal, we can achieve lasting success.
