Mr Iger made the comments on Monday in a town-hall meeting with ABC staff before the network's fall season presentation to advertisers on Tuesday in NY.
Sources told Deadline that Disney is not now planning to pay the ransom, though the studio has not yet commented publicly on the situation.
Disney's next two upcoming major movies are "Pirates of the Caribbean: Dead Men Tell No Tales, " which is scheduled to open on May 26, and "Cars 3", which is scheduled to open on June 16. They are demanding the money via Bitcoin.
Deadline.com said the film was Pirates of the Caribbean: Dead Men Tell No Tales, the latest instalment of the franchise starring Johnny Depp. According to reports, Disney is refusing to pay anything to the hackers.
The Disney hack comes as studios and production outfits have dealt with increasing security threats presented by hackers.
Even as many businesses are anxious about hackers taking control of their computers as part of the worldwide WannaCry ransomware crisis, the Walt Disney Co. may be facing a slightly different ransom situation of its own.
Disney did not immediately respond to a Guardian query seeking confirmation.
Monsegur says that it's not necessarily the large companies such as Disney and Netflix that have weaknesses, but the smaller vendors and post-production studios which are lacking in security.
But Iger insists the company bosses have chosen not to pay up.
Netflix apparently didn't budge and ten episodes of the still-unreleased fifth season of Orange Is the New Black were released to the public on torrent website PirateBay last month.