The Walt Disney Co. (NYSE: DIS) CEO Bob Chapek set out a three-pillar strategy for the company’s 2022 goals.
What Happened: In a staff memo obtained by Variety, Chapek identified “storytelling excellence,” “innovation” and “relentless focus on our audience” as the foundation for the year.
In regard to “storytelling excellence,” Chapek highlighted how the company’s content has the ability to “inspire, give hope, bring us together, illuminate the world around us, and create memories.” New to 2022, Chapek added, will be a “standing monthly meeting with our senior creative leaders to discuss the opportunities we face as a storytelling enterprise. This will encourage collaboration, sharing of best practices, and stimulate cross-studio ideation.”
Chapek defined Disney-style innovation as a tradition dating back to Walt Disney’s groundbreaking 1928 animated short film “Steamboat Willie” and stretching ahead into the still-uncharted metaverse.
“We should be especially innovative as we seek to bring stories to life in new ways—particularly if they enhance what many call our ‘franchise ecosystem,’ which is one of the things that sets us apart,” he noted.
Related Link: How Will Disney Be Impacted Now That A.A. Milne’s ‘Winnie-The-Pooh’ Is In The Public Domain?
What Else Happened: Chapek also detailed the pillar related to the “relentless focus on our audience” by reminding the company’s workforce that they ultimately answer to the consumer, whom he identified as “our North Star.”
“Right now, their behavior tells us and our industry that the way they want to experience entertainment is changing – and changing fast thanks to technology and the pandemic,” he said. “We must evolve with our audience, not work against them. And so we will put them at the center of every decision we make.”
Chapek also reminded the Disney team that the company’s 100th anniversary is approaching – the company’s first iteration, Disney Brothers Cartoon Studio, opened for business in October 1923.
“I believe our mission for this year is clear: set the stage for our second century, and ensure Disney’s next 100 years are as successful as our first,” Chapek added.
Related Link: Meet LinaBell, The Most Popular Disney Character You’ve Never Seen (Unless You’re In China)
Photo: Bob Chapek, courtesy of The Walt Disney Co.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.