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Bob Chapek’s Master Plan Is Doubling Down on Hulu

Bob Chapek
Photo by Gerardo Mora/Getty Images
Dylan Byers
November 19, 2021

Later tonight, Bob Iger will host a dinner party at his Brentwood home to say thanks and so long to friends and colleagues, one of the many stops on a farewell tour that began when he stepped down as chief executive of Disney in February 2020 and will finally end when he steps down as executive chairman and leaves the company at the end of January 2022. (Yes, Iger is staying on one month longer than Disney previously announced, per sources familiar with the timeline.)

C.E.O. Bob Chapek, who has seized the reins at Disney a little faster and more aggressively than Iger may have liked, will also be in attendance, along with his direct reports. Depending on the tone and tenor of the evening, and the seating chart, it’s conceivable that the conversation could turn to the question currently transfixing Chapek and his colleagues: how to grow Disney+. The streamer, which had a robust launch and rapid rise thanks to its inescapable appeal for families and Marvel/Star Wars superfans, is now starting to plateau at around 118 million subscribers, only 72 million or so of whom are paying full freight. Forty percent of subscriptions come from Disney+ Hotstar in India, which has dragged Disney’s average revenue per subscriber down to just $4.12.