Disney CEO Bob Iger received a total compensation of nearly $31.6 million in 2023, despite overseeing significant financial losses for the company.
This amount is more than double his previous year’s earnings.
The losses stemmed from several box office failures, resulting in Disney losing approximately $965 million from three films and a streaming series.
“The best argument you can make is that they lost close to a billion dollars when, in reality, you’re looking at probably somewhere closer to $1.2 to $1.8 billion dollars in financial losses, especially as we get closer to what the actual budgets for these movies were,” box office analyst OMB Reviews said.
“Basically, the news of Disney for this past year is this: None of their movies made money and the only one that conceivably made any money barely made any and hardly made enough to pay for any other projects going forward,” they said. “Guardians of the Galaxy Vol. 3” made merely $4 million in profit.
“Being the No. 1 studio globally for seven consecutive years out of the last eight is pretty remarkable by any measure and is something of which we are all incredibly proud,” Disney senior vice president of studio distribution Tony Chambers said.
Although Disney earned about $4.83 billion in global box office earnings, its profits were low, and the company faced financial struggles, including layoffs and a decline in Disney+ subscribers.
Iger’s substantial compensation was met with disapproval from some Disney employees.
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