Disney CEO Bob Iger announced last year that the once-great Disney studio continued to struggle financially and creatively, laying off 7,000 employees and suffering an unprecedented series of box office failures. Because of his experience, he more than doubled his own compensation.
Bob Iger's total compensation for the fiscal year ending in September was $31.6 million, up from $15 million in 2022, according to a recent Disney SEC report. filing.
His 2023 salary includes a base salary of $865,385, stock compensation of $16.1 million, stock option compensation of $10 million, performance-based compensation of $2.1 million, and other compensation of $2.48 million.
Iger's raise comes after Disney experienced another bad year.
The company plans to lay off 7,000 employees worldwide and cut an additional $2 billion in headcount.
Disney's streaming service lost billions of dollars as the company splurged on content that was difficult to connect with viewers. And while the losses aren't as bad as they once were, Disney, like other legacy studios, has struggled to monetize streaming.
Disney+'s domestic subscriber growth has stagnated, an ominous sign for a streaming service that's only been around for a few years. As a result, prices have increased significantly.
Disney also experienced an unprecedented series of box office failures in 2023. Marvels, Indiana Jones 5, The Little Mermaid, Wish, Ant-Man 3, Haunted Mansionmore.
Iger also discussed the company's dispute with Florida Gov. Ron DeSantis (R) over parental rights in education laws that protect public school students from the indoctrination of radical transgender ideology and other forms of LGBTQ activism. It intensified the political war.
He has also presided over the company's continued embrace of gay and transgender messages to children.
Disney stock is currently languishing near three-year lows, with little room for upside in the short term.
Three years ago, the stock was trading near $200. It is currently hovering around $90.
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