Disney CEO Bob Iger gets major pay rise to $41 million as succession plan begins ahead of ESPN streaming service launch

In advance of the entertainment behemoth’s succession plan, Disney CEO Bob Iger has received a sizable compensation increase.

Iger, 73, has a deal with Disney through 2026.

However, it was disclosed after the company’s annual proxy filing that Iger received a compensation package of $41.1 million in 2024.

Compared to 2023, when he received a package worth up to $31.6 million, primarily in the form of stock and option awards, it represents a salary increase of about 30%.

Iger, who served as Disney’s CEO from 2005 to 2012 before returning in 2021, has been in charge of a significant transition to streaming services.

This push has included a streaming-only version of ESPN as part of a live sports streaming collaboration with Fox and Warner Bros. Discovery, as well as the merging of Disney Plus and Huluapps for package users.

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There will be 15 networks offering college sports, the NFL, NBA, MLB, NHL, WBNA, and NASCAR.

“The launch of this new streaming sports service is a significant moment for Disney and ESPN, a major win for sports fans, and an important step forward for the mediabusiness,” Iger said in a statement last year. The service is scheduled to launch in the fall of 2025.

“This means the full suite of ESPN channels will be available to consumers alongside the sports programming of other industry leaders as part of a differentiated sports-centric service.”

The ESPN streaming agreement was one of the major factors in the 20% gain in Disney’s stock price under Iger over the past 12 months.

Allowing ESPN to keep the NBA coverage rights was one of the deal’s most noteworthy achievements; it was estimated to be worth an incredible 76 billion over 11 years.

According to reports, viewers will pay $42.99 a month for the service, which includes a seven-day free trial and the option to cancel at any time. The price will remain the same for a whole year.

James Gorman, the chairman of the Disney board, has stated that he intends to appoint Iger’s replacement by the beginning of 2026.

“As Chair of the Succession Planning Committee, I am focused on managing our succession process, and we have continued to make strong progress over the last year,” he stated in his first annual shareholder letter in his new role as chairman.

Iger’s possible successors have already been predicted.

While Electronic Arts CEO Andrew Wilson has spearheaded the rumors of outsider applicants, ESPN chairman Jimmy Pitaro has long been an inside candidate for the position.