Disney is an undeniable entertainment heavyweight. While filming, Iger came across a studio operations supervisor at ABC Sports. Movies such as The Little Mermaid, The Lion King, and The Beauty and the Beast from Eisner’s early years were well-represented, as well as characters from Disney-Pixar movies such as Toy Story and Finding Nemo. The passion it takes to create something is powerful and most creatures are understandably sensitive when their vision or execution is questioned, You need to have a clear understanding of the big picture or else the small details won’t matter, He didn’t want to be in the business of playing it safe, but to, He believes his strength is his ability to urge creative people to do their best work and take chances, while also helping them rebound from failure, At meetings outside of his own company, he tries to, It is a small gesture but he remembers how important it is to. Giving the keys to Eisner’s deputy didn’t precisely indicate a new day. If Disney was going to succeed, it required their assistance. Basically giving out the same things for the same customers, by contrast, was a way for stagnation. In the spirit of full transparency, this blog utilizes affiliate links as an Amazon Associate. In The Ride of a Lifetime (2019), Robert Iger charts his career from the backrooms of an American TV network to CEO of Disney. Bob believed him and said that his 23-year-old nephew was in search of a job. Troublingly, there wasn’t any Disney character from the former decade. On the 31st of August, 2009, Disney publicized it was buying Marvel for only over $4 billion. Again, such a great book on leadership. We’ve selected this book for our library and are currently trying to secure summary rights or finishing the summary. As Iger said to him that day, a lot of the characters that have really helped in his career were from him. Under his management, the company changed its fortunes and started the climb to the high position it has presently. © 2021 Copyright Good Book Summaries [Daily Updated], link to The Bullet Journal Method by Ryder Carroll [Book Summary - Review], link to The Seven Spiritual Laws of Success by Deepak Chopra [Book Summary - Review]. That same year, a small media company that is known as Capital Cities Communications – Cap Cities in short –acquired the network for $3.5 billion. Its value is nearly five times what it was when Iger took over, and he is recognized as one of the most innovative and successful CEOs of our era. Jobs, who liked radical ideas, didn’t want to wait to listen to Iger’s idea. In January of 1996, the two companies combined in a deal worth $19.5 billion. I think Disney now more so since they’ve gotten so much bigger and a global influence in the past couple decades. Every morning, ABC camera crews searched Calgary thoroughly for human interest stories to air rather than the canceled Olympic events. He believed that leadership is about humility – a few things, are less confidence-inspiring than a leader feigning understanding. Disney movies make billions of dollars and get the imaginations of millions of viewers. The Seven Spiritual Laws of Success by Deepak Chopra [Book Summary - Review]. However, it was the latter who had an extreme impact on Iger. This may still take some time, but we’re glad to notify you when it’s ready. Sections 101. In The Ride of a Lifetime, Robert Iger chronicles how innovation was the key to his many successes. With that frame of mind, I can’t imagine I’ll regret any of my big decisions moving forward. Firstly, Disney has to dedicate more of its time and capital to making memorable movies and characters. At no extra cost to you, these help support the cost of maintaining this blog. “Ask the questions you need to ask, admit without apology what you don’t understand, and do the … By removing its TV shows and movies from other streaming services such as Netflix, Disney is basically losing hundreds of millions of dollars in annual license fees. Tom Murphy and Dan Burke had formed an open, decentralized structure at ABC. He started as a bottom-level crew member on television sets and eventually became CEO of Disney for 15 years. Early 2006, a deal had been agreed on. QuickRead presents a summary of "The Ride of a Lifetime" by Robert Iger: Disney is one of the top five largest media companies on earth. When it was produced in 2018, critics were uncertain if a superhero movie set in a fictional African country with black leads would stir a mass audience. Let’s say Disney decided to pay that much cash, Jobs was never going to sell it. I really appreciate all of the life lessons and principles needed to be an effect leader and CEO, and I guess just for life in general. Iger had his work outline for him when he got his new job as president of ABC Entertainment in Los Angeles. However, in creative fields, a company is often highly dependent on the talents of a few individuals and, without those individuals, future prospects would look bleak. His spot had been left empty until the merger when Eisner employed Michael Ovitz, the founder of top Hollywood talent agency CAA. This is the life story of former Disney CEO, Bob Iger. In 2001, the September 11 invasions made the stock market drop and required Disney’s largest shareholder, the Bass family, to leave 135 million shares worth $2 billion. Also, I wanted to find a book that was more narrative so that my month isn’t just all learning-type books. You must be attentive, learn, absorb, listen to other people’s problems, and help find solutions, Good leadership is about helping others be prepared to possibly step in to your shoes if needed. Toy Story, the first fully digitally animated feature film, was produced in 1995. Definite that Jobs was going to laugh at him, Iger told him immediately. For a lot of people, it was a perplexing choice. Disney bought it for $1 billion for a 33% stake in BAMTech. Summary. A classic of English literature, written with incisive wit and superb character delineation, it centers on the turbulent relationship between Elizabeth Bennet and Fitzwilliam Darcy. Just like Burke and Cap Cities’ chairman, Tom Murphy, he was happy to entrust decisions to those surrounding him. Iger’s career started with an accidental encounter. That was not a choice; however, but Iger had another suggestion– buying Pixar outright. Iger stated that anything below that wasn’t only going to cut it. His new boss Swanson was kind, energetic, and infectiously optimistic – in a nutshell, a great boss. A few weeks after, Disney’s shareholders rebelled. What is the sticking point? That caused bad decisions. The Ride Of A Lifetime Summary The Ride Of A Lifetime shares the inspirational story of Robert Iger, including his journey to becoming the CEO of Disney and how his vision, strategy, and leadership guided the company through a time when it’s future was uncertain. It was part of ABC’s greatest successful shows in years. It was an enlightening, although a negative lesson in leadership for Iger. Marvel had financially struggled for ages; however, it had a treasure trove of comic book characters perfectly appropriate for Disney’s movie, TV, theme-park, and merchandise operations. It was a hit and earned more than $400 million globally. Competition was more intense than ever, and technology was changing faster than at any time in the company’s history. However, in all circumstances, there are some certain points you should... Good Book Summary is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com. In March 2005, Disney’s board assembled to make its choice. The Ride Of A Lifetime Summary. Fortunately, he had an edge– Scott Miller, a Los Angeles-based political consultant, and brand manager, an old connection from Iger’s time at ABC. He became the CEO. Who doesn’t want to be successful? It became the #1 New York Times bestseller after its release. Now, he believed, he might be pushed before he got the opportunity to jump. 15+ year Disney executive Robert Iger gives his account of his journey to becoming the CEO and assisting in some of the biggest changes in the history of a company responsible for so much of our culture today. ( Log Out /  The new owners instantly removed the incentives formerly enjoyed by the ABC Sports workers. Except consumers could access Disney’s content in more user-friendly, mobile, and digital manners, the corporation would struggle to stay important. But, ultimately, this choice marks nothing less than the wholesale reinvention of Disney. There, each choice had to be run by Strategic Planning, a division full of Harvard and Stanford MBAs. Iger saw it as a distribution platform … In a company like Disney, if you don’t do the work, the people around you detect that right away and their respect for you disappears, In managing oneself and those below you, can’t let ambition get too far ahead of opportunity, They shouldn’t let the job they want distract from the job they have, At its essence, good leadership isn’t about being indispensable, Decisions become easier for them in the context of a larger plan, Leveraging and doubling down on technology, Don’t let your ego get in the way of making the best possible decision, Longshots aren’t usually as long as they seem, In a creative business, you aren’t buying physical goods or assets, you’re buying people, He had a really great relationship with Steve Jobs and was one of the most unexpected joys during his time as CEO, He consulted with Steve a lot as a friend (who was also Disney’s largest shareholder), He knew the decision to move towards more inclusivity and diversity in their films was the right step and advocated for it, The blowout success of Black Panther and Captain Marvel proved that the old truisms in Hollywood about movies were not true, There may be no product they’ve created that they’re more proud of than Black Panther, He’s never received so many notes and calls about anything he’s ever been associated with in his entire career, Famous actors and celebrities and even president Obama commented on how important that film was for society, Projecting your anxiety onto your team is counterproductive, There is a subtle difference between communicating you share their stress and communicating that you need them to deliver in order to alleviate your own stress, In each of the large acquisitions by Disney, there was a personal component that needed to be handled with authenticity, Management by press release is the concept where making a public statement showing your conviction also galvanizes and signals commitment to your employees, Many of the practices and structures within the company need to adapt too, Tradition generates so much friction every step of the way, Everything depends on upholding that principle, After the purchase of 21st century fox, his template of the 3 pillars he laid out before becoming CEO came true, They focused on quality branded content, technology, and becoming a global company, Even when a CEO is working effectively and productively, it’s important for a company to, He had great mentors and trusted his instincts, Wherever you are along the path, you’re the same person you’ve always been, Put people in roles that require more of them than they know they have in them, Ask the questions you need to ask, admit without apology what you don’t understand, and do the work to, Managing creativity is an art, not a science, If you want innovation, you need to grant permission to fail, You can do a lot for the morale of the people around you and the people around them just by, A little goes a long way, and the absence of it can be very costly, Hold onto your awareness of yourself, even if the world tells you how important and powerful you are, He learned that it was important to be comfortable with failure and give others permission to fail. A series of box-office hits such as The Little Mermaid and The Lion King plus Eisner’s extension of Disney’s theme parks and resorts had provided the company improvement in the late eighties. At present, it’s increased to a 75% stake. That was a task that had Iger’s name on it. I read the book Creativity. That was mainly down to the original work of its technological and creative heads like John Lasseter and Ed Catmull. Many of these principles aren’t really new to me, meaning I’ve heard them in some way or another in various other memoirs and books on leadership. In September of 1999, Eisner organized a meeting with Iger. November 20, 2020November 17, 2020Luke RowleyBiography, Business, Career, Entrepreneurship, Leadership, Management, Motivation & Inspiration, Success, Work. , I appreciate every donation as it goes directly to the maintenance costs of my blog and creation of new content. Things were already bad enough and they were soon to get worse. We are all shaped by a mixture of two elements, that is, nature and nurture. Choosing to remain at ABC was the best decision he ever made. https://goodbooksummary.s3.us-east-2.amazonaws.com/The+Ride+of+a+Lifetime+by+Robert+Iger+Book+Summary.pdf, https://goodbooksummary.s3.us-east-2.amazonaws.com/The+Ride+of+a+Lifetime+by+Robert+Iger+Book+Summary.epub, I'm a software engineer. Jobs was cold-hearted and the deal he has Iger was similarly one-sided: in return for surrendering the sequel rights to the whole Disney-Pixar collaborations, Disney would get a measly 10% stake in Pixar. To a 75 % stake in BAMTech just got the approval after the had! Capital to making memorable movies and characters Disney was in problem and streaming services were the and... Competition was more intense than ever, and they have the best library of audiobooks reverse that! 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