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Amid Disney fan backlash and a divisive reputation, it seems that being the CEO of the Walt Disney Company pays off in the end.
Bob Chapek has certainly had an interesting entry into his new role as CEO of The Walt Disney Company.
With a petition going viral last year aiming to persuade the Walt Disney Company to fire Chapek, the Disney head has become quite a continued topic of discussion among Disney Guests.
Now, Disney CEO Bob Chapek’s paycheck for 2021 has been revealed, and his total compensation has seen quite the increase.
Credit: Collider
With so many cuts and changes being made to Magic Kingdom, EPCOT, Disney’s Hollywood Studios, and Disney’s Animal Kingdom, many Disney fans have been debating recently Chapek’s approach to the quality of the Park experience.
With ticket prices increasing, food portions decreasing, and Disney’s FastPass being replaced by the paid-for Disney Genie+ service, Disney Guests have become quite vocal with their opinions on Chapek, and Chairperson of Walt Disney Parks and Resorts Josh D’Amaro.
Chapek revealed in an interview recently that he dislikes this “cost-cutter” reputation he has gained as Disney CEO, but that “cost-cutting” and data-focused approach has certainly helped his bank balance.
Deadline revealed that Disney CEO Bob Chapek saw his total compensation more than double in fiscal 2021 compared with 2020, to $32.5 million, while Bob Iger made a whopping $45.9 million.
Credit: D23
One noteworthy reason for the dramatic jumps for all top executive paychecks from 2020 to 2021 is that they did not receive bonuses in 2020 due to the pandemic. Deadline adds:
Chapek’s pay puts him significantly below the level of many other media executives. Of his total compensation, $10.2 million came in the form of a stock award and $14.3 million via the company’s non-equity incentive plan.
Chapek took over from Bob Iger in February 2020, starting just before the pandemic. His decisions so far in the Disney Company have included laying off 28,000 Cast Members, a focus on Disney+, the closures of Walt Disney World, Disneyland Resort, Disney Cruise Line, and Disney Parks across the globe, as well as a high-profile lawsuit with Black Widow (2021) star Scarlett Johansson.
In a recent Cast Member memo, Bob Chapek explained his three goals for 2022: “storytelling excellence,” “innovation” and “relentless focus on our audience.”
Credit: Disney Tips
His focus on innovation saw the launch of the divisive Disney Genie+ service in both Disneyland and Walt Disney World. On October 19, Disney Genie officially launched on the My Disney Experience app in Disney World, along with Disney Genie+ and Lightning Lane access, the new paid iteration of what was previously the FastPass service.
With the launch of the new digital service Disney Genie, however, Disney Guests are debating whether this new tool, along with other technology and apps, stops Guests from being fully engaged in the Park experience. It does, however, add more revenue to Disney’s pockets.
Credit: Disney
Before he was CEO, Bob Chapek was Chairman of Disney Parks, Experiences and Products, leading Disney’s travel and leisure businesses such as Disney Cruise Line, Adventures by Disney, and Disney Vacation Club.
While Chairman of Disney Parks and Resorts, Chapek oversaw the opening of Shanghai Disney Resort and the launch of Star Wars: Galaxy’s Edge at Walt Disney World and the Disneyland Resort.
We’ll have to see what 2022 brings for Disney in terms of revenue success, but with big Marvel Studios movies like Benedict Cumberbatch’s Doctor Strange in the Multiverse of Madness (2022), as well as the opening of TRON coaster at Magic Kingdom and Guardians of the Galaxy: Cosmic Rewind at EPCOT, it seems Disney will probably be seeing some cash spikes this year.
