For the next days, he spoke about his status as a corporate hotshot. Disney was in disaster and Eisner began to panic. Pride and Prejudice, romantic novel by Jane Austen, published anonymously in three volumes in 1813. Let’s say Disney decided to pay that much cash, Jobs was never going to sell it. Albeit Disney could have afforded them, they were only really huge to swallow whole. He started as a bottom-level crew member on television sets and eventually became CEO of Disney for 15 years. I read the book Creativity. 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. The initial idea had been to release it directly to video; however, as costs spiraled, it was then agreed to show it in theaters first. Change ). Viewers all across America got to know about the Jamaican bobsleigh team and people such as Eddie “The Eagle” Edwards, an eccentric British ski-jumper who had come last in all events he participated. Iger immediately understood that his father didn’t bother about what he did with his time providing he was using it “productively” and spent it to improve himself. “Not just to the aspiring CEOs of the world, but to anyone wanting to feel less fearful, more confidently themselves, as they navigate their professional and even personal lives.”” -Audible, ~If you enjoy my summary, please consider buying me a coffee via my Ko-Fi link (click the button below) or become a recurring donor as a YBC Scholar! Again, such a great book on leadership. ABC still had a few of famous shows to its name; however, it was quickly weakening to its closest competitor – NBC. I remember reading about Pixar’s interactions with Disney right around the time they went under the Disney umbrella and also working with Steve Jobs around that time from the book Creativity, Inc. It’s also crazy to get the inside scoop on how they came to acquire Pixar, Marvel, Star Wars, and Fox, which is insane now that I realized what that actually meant for all parties involved. As an ardent reader, he had arranged the family’s bookshelves with the books of great American writers. Afterward, at the end of 2019, there will be Disney+, an on-demand streaming service that will show the entire Disney-owned content. ( Log Out /  Disney would purchase Pixar for a sum of $6.4 billion and assure Lasseter and Catmull’s creative freedom and independence. It was a hit and earned more than $400 million globally. At present, it’s increased to a 75% stake. Iger’s job was easy: go to work anytime they needed him and do anything needed to do. Disney was battling to continue in a shifting media surroundings. Do you know when a planner becomes more than a planner? Except consumers could access Disney’s content in more user-friendly, mobile, and digital manners, the corporation would struggle to stay important. After his conversation with Miller, Iger drew out three key priorities for Disney. His vision came down to three clear ideas: Recommit to the concept that quality matters, embrace technology instead of fighting it, and think bigger – think global – and turn Disney into a stronger brand in international markets. Provided that budgetary restrictions were followed, senior staff such as Iger was permitted to lead projects. “The ideas in this book strike me as universal”, Iger writes. create space in each day to let your thoughts wander, guided by your own sense of right and wrong, helping others be prepared to possibly step in, Book notes: Creative Calling by Chase Jarvis, Book notes: Why We Sleep by Matthew Walker, View yolocruzbookclub’s profile on Instagram, View marlo-yonocruz’s profile on LinkedIn, The Ride of a Lifetime: Lessons Learned from 15 years as CEO of the Walt Disney Company, The Hard Thing About Hard Things by Ben Horowitz, Book notes: The Effective Executive by Peter Drucker – Marlo Yonocruz, Book notes: Off to Be the Wizard by Scott Meyer, Book notes: The New Jim Crow by Michelle Alexander, Book notes: The Alchemist by Paulo Coelho, Book notes: Think Like a Monk by Jay Shetty, Parks: Anaheim, Orlando, Paris, Tokyo, Hong Kong. Disney movies make billions of dollars and get the imaginations of millions of viewers. 1-Page PDF Summary of The Ride of a Lifetime Bob Iger has had a long career—22 years at ABC, then 23 at Disney (after Disney acquired ABC). 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. Miller didn’t mince his words when they first saw each other. 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. All thanks to these platforms, the company will no longer be dependent on mediators such as movie theatres and distributors – rather, it will be able to provide its content directly to customers. Iger was employed just like that. This was one of them For Iger. But, ultimately, this choice marks nothing less than the wholesale reinvention of Disney. Troublingly, there wasn’t any Disney character from the former decade. Your small donation will help me with the costs to maintain my website. It makes sense based on the principles how he was able to be so successful in 40+ years in his industry and 15 years as CEO of Disney. ENHANCEMENT ACT OF 2019 (THE SECURE ACT) TITLE I: Expanding and Preserving Retirement Savings . His first work was to select the team for the 1989-1990 season. If you enjoy my content, please consider donating a small amount to my blog. Enter your email to get updates on new content, book reviews, and posts. ( Log Out /  Iger’s father graduated from Wharton, a well-known business school in Pennsylvania, Iger’s father was a clever and talented man susceptible to worrying and insecurity. Afterward, Iger realized that he had been diagnosed with manic depression. Jobs the CEO of Pixar Animation Studios as well, Disney’s most successful creative partner. It’s easy to use, cost-effective, and they have the best library of audiobooks. Desperate to get as much as possible from Disney’s deal with Pixar, he rejected to compromise with Jobs. Synopsis: The Ride of a Lifetime is an autobiography by Robert Iger, the CEO of Disney. Provided you abide by the budget and acted ethically, you were granted independence. As expected, it was such a great insight into not only his life, but how Disney has grown and evolved in the past couple of decades while he worked there. On the 8th of April, 1990, when the pilot episode of Twin Peaks aired, 35 million viewers watched it to know what all the fuss was about. The best moment came in 1988 when he was made to be in charge of ABC Sports’ coverage of the Calgary Winter Olympics in Canada. From billion dollar blockbuster movies, to beloved media franchises, to toys and games, to virtually inventing the modern theme park, it's hard to remember a time when Disney didn't dominate the entertainment industry. Subscribe to the Yolocruz Book Club email newsletter. Starting at the Bottom. Perlmutter was a difficult person; however, even he couldn’t assist but be fascinated when Jobs personally called him to guarantee for Iger’s honesty. The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of the Walt Disney Company is a 2019 book written by Robert Allen Iger or more popularly known as Bob Iger. I like reading books and writing summaries. When companies see themselves in disaster, their boards regularly look to “change agents” from outside the company to fix their difficulties. That entailed waking up at 4:30 a.m. to organize sets, direct carpenters and electricians, and run small errands. But, by the mid-nineties, the entertainment guru was in problem. As the season unfolded, the plot started to twist and viewers slowly lost interest. In the summer of 2016, Disney came close to buying Twitter. It’s also about thoughtfulness and respect, and a decency-over-dollars approach that has become the bedrock of every project and partnership Iger pursues, from a deep friendship with Steve Jobs in his final years to an abiding love of the Star Wars mythology. During the fall of 2005, Iger pulled into his driveway and made a call Jobs to request for a meeting to talk of a “crazy” idea. Iger wasn’t wrong. He told his father how thankful he was for everything he and his mother had done for him. . In this present market, consumers face a dizzying amount of options. That was a task that had Iger’s name on it. When Iger accepted, he was in charge of Disney’s media unit. Change ), You are commenting using your Google account. He was either distributing papers to help earn more income or fixing household appliances or engaging himself in the New York Times; Iger was independent and committed in everything he did. It was published on September 23, 2019, by Random House. Toy Story, the first fully digitally animated feature film, was produced in 1995. Personal recommendation: For the last 6 years, I’ve used Audible to listen to all of my favorite books. Eventually, that didn’t mean. In The Ride of a Lifetime, Robert Iger shares the lessons he’s learned while running Disney and leading its 200,000 employees, and he explores the principles that are necessary for true leadership, including: • Optimism. When it was his time to lead, Iger wouldn’t make the exact mistakes as Ovitz. Don’t worry, I’ll never send you spam or give away your info. Definite that Jobs was going to laugh at him, Iger told him immediately. He disturbed meetings to field calls, didn’t read reports, and made small attempts to hide his boredom. 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. Secondly: Disney needed to accept innovative technologies. Choosing one wouldn’t have been simple at the best of times; however, Iger was totally unexperienced. And you can easily unsubscribe at any time. And there’s lots of content to go round. Competition was more intense than ever, and technology was changing faster than at any time in the company’s history. Be in the business of creating opportunities for greatness, Managing your own time and respecting other people’s time is one of the most vital things to do as a manager. Based on the bestselling novel by master storyteller Nicholas Sparks, THE LONGEST RIDE centers on the star-crossed love affair between Luke, a former champion bull rider looking to make a comeback, and Sophia, a college student who is about to embark upon her dream job in New York City's art world. For a lot of people, it was a perplexing choice. Whoops! When 43% of them suspended their backing for Eisner, it was obvious: his position had become weak. 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. ABC Sport was different from every other department. I’ll send you my latest book overviews that include highlights, favorite quotes, and quick summaries. The Seven Spiritual Laws of Success by Deepak Chopra [Book Summary - Review]. Increase Access for Workers in Small Companies to Retirement Plans by ... lifetime income streams, including a qualified joint and survivor annuity for the participant and the Lastly, Disney needed to be a really global company and tap into developing markets such as India and China. Great branded content assists them to choose how to use their precious time and money. Robert Iger started in the media industry after an accidental meeting that got him a job at ABC, one of America’s leading TV networks. When he stated that he was resigning, President Dan Burke said to him that he should consider carefully– if he stayed around, he would ensure that Iger was promoted to senior vice president of programming. Jobs disputed that it should count towards Disney’s five-movie promise; however, Eisner said it shouldn’t because it was a sequel. In September of 1999, Eisner organized a meeting with Iger. Put differently, you take the speculation out of their daily lives. Making a platform would have been a huge investment and it would have taken years. November 20, 2020November 17, 2020Luke RowleyBiography, Business, Career, Entrepreneurship, Leadership, Management, Motivation & Inspiration, Success, Work. His leadership has been shaped by a series of courageous achievements and unions that have helped secure Disney’s spot in the world of entertainment. Disney did the same. 10 Principles necessary to true leadership: To turn things over in your mind in a less pressured, more creative way than is possible once the daily triage kicks in, Do what you need to do to make things better, In your work and your life you’ll be more respected and trusted when you, Genuine decency and professional competitiveness weren’t mutually exclusive, Managing the creative processes start with an understanding that it is not a science, Everything is subjective and there is no right or wrong. But to stay on the theme of the title, my own takeaway for this book would be: Life is an adventure – If you don’t choose the adventurous path, you’re not really living. Through his story from his humble beginnings at ABC’s Small Production Services Department to being offered the job of CEO at Disney and rebuilding the company, he demonstrates how innovation, risk-taking, quality leadership, and a few other things can lead to massive success. When the two people at the top of the company have a dysfunctional relationship, there’s no way that the rest of the company beneath them can be functional. . Please consider a small donation to help support my blog ^_^ I love providing free book notes and other content. You’ve started, don’t stop! To be on top, he would need to win the fight for the “soul of the brand.”. Just like Burke and Cap Cities’ chairman, Tom Murphy, he was happy to entrust decisions to those surrounding him. That afternoon, Iger got a call. In these chapters, we’ll learn about who Iger is, his background, and how he did it. Years after he had turned to the CEO of Disney, Iger took his dad for lunch in New York. This is the life story of former Disney CEO, Bob Iger. … You ask the questions you have to ask, get yourself informed, and then look for the courage to make hard decisions. Projects just got the approval after the numbers had been crunched and Eisner had signed off. In The Ride of a Lifetime, Robert Iger chronicles how innovation was the key to his many successes. We are all shaped by a mixture of two elements, that is, nature and nurture. Disney bought it for $1 billion for a 33% stake in BAMTech. Roone Arledge, Iger’s great ABC mentor had told him that, if you don’t innovate, you perish. ABC’s creative directors respected his work; however, they just couldn’t see it thriving on prime-time TV. There, each choice had to be run by Strategic Planning, a division full of Harvard and Stanford MBAs. Buying ABC assets such as the cable sports channel ESPN provided Eisner a breathing space as Disney attempted to revive its charm. It didn’t just take well over a billion dollars; however, it was also signaled as a milestone. The presidency of ABC’s whole entertainment division. Platforms and streaming services were the future and Disney had to get in on that. Who doesn’t want to be successful? Disney movies make billions of dollars and get the imaginations of millions of viewers. In January of 1996, the two companies combined in a deal worth $19.5 billion. On the 31st of August, 2009, Disney publicized it was buying Marvel for only over $4 billion. As the new Disney CEO, Steve Jobs was one of the first people Iger got in contact with. He has seventeen published novels as of September 2013 plus one non-fiction. 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. 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. Fascinated by his can-do outlook, the supervisor employed Iger to work at the network’s greatest profitable unit. Highly recommend this book for people trying to improve in that area, or just have a strong fascination for Disney and would like to learn about it’s recent history and growth. It was an immediate hit and ultimately went on to take above $2 billion in box office receipts. Eisner said to Tom Murphy that he would never see Iger as his replacement. In The Ride of a Lifetime, Robert Iger shares what he has learned from leading The Walt Disney Company for over 15 years. The new owners instantly removed the incentives formerly enjoyed by the ABC Sports workers. Bob believed him and said that his 23-year-old nephew was in search of a job. But, what he did have was a belief. When you use the links provided, this blog earns commissions from qualifying purchases. 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. 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