Disney’s struggles at the box office are no secret, with Indiana Jones and the Dial of Destiny the latest Disney release to fail to live up to expectations. Amid these issues, Disney CEO Bob Iger says that the company is adjusting its release strategy.
“You pull back not just to focus, but also as part of our cost containment initiative. Spending less on what we make, and making less,” Iger said Thursday.
Photo: PRNewsFoto/The Walt Disney Co.
A New Strategy At Disney
Iger’s statement comes as no surprise to those who have been following the company, as Disney executives have often spoken about how they felt their key franchises were stretched too thinly.
Earlier this year, as part of the company’s reorganization, Disney announced it would be slashing $3 billion from its content spending, excluding sports.
On Thursday, Bob Iger pointed to Disney’s zeal to prop up its original content on streaming, as something that may have hurt its brands overall.
“Marvel is a great example of that. It had not been in the television business at any significant level, and not only did they increase their movie output, but they ended up making a number of TV series,” said Iger. “Frankly, it diluted focus and attention.”
Photo: Marvel
While Marvel has still been the most successful box-office franchise, clunkers like Ant-Man and the Wasp: Quantumania proves the studio is not the infallible entity that it once was.
Creating Cinematic Events
On the Lucasfilm front, there has not been a new Star Wars film in theaters since 2019. During this time however, the studio has released some of Disney+’s biggest shows including Andor, Obi-Wan Kenobi, and The Mandalorian.
Photo: Justin Lubin /Lucasfilm Ltd.
Disney brass has spoken before about their desire to turn Marvel, Star Wars, and Pixar releases into cinematic events. In order to do this, they will need to release less content, and potentially hurt their streaming.
In the end, Star Wars, Marvel, and Pixar will continue to make up the backbone of The Walt Disney Company. These franchises will just have to do so with fewer releases.
Photo: Disney/Pixar
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