Disney CEO Bob Iger recently announced that the company will be shifting its focus from quantity to quality when it comes to their movies. This decision comes after Disney’s shares fell over 9.5 percent, marking their worst single-day decline in 18 months. The company’s Q2 earnings report showed a marginal 1 percent increase in revenues compared to the same quarter last year, with the entertainment segment seeing a decline of 5 percent.
During an earnings call, Iger stated that Disney executives have been working hard to reduce output and prioritize quality. This strategy will be particularly evident in the Marvel franchise, where the number of TV series and films will be decreased. Last year, two big Marvel films, “Ant-Man and the Wasp: Quantumania” and “The Marvels,” performed below expectations at the box office. Considering their budgets, the returns were disappointing, with “Quantumania” grossing $476 million globally against a $200 million budget, and “The Marvels” collecting only $206 million worldwide with a $220 million budget.
Iger acknowledged that Disney is still working on identifying the right path forward but expressed optimism about the upcoming film slate. The company plans to balance sequels with original content to cater to different audience preferences. Iger emphasized that sequels have value in terms of marketing since they are already familiar to audiences. However, he also highlighted upcoming original projects such as “Thunderbolts” in 2025.
In addition to the Marvel franchise, Disney has other highly anticipated theatrical releases scheduled for the near future, including “Kingdom of the Planet of the Apes,” “Inside Out 2,” “Deadpool & Wolverine,” and “Alien: Romulus.” Later in the year, audiences can look forward to “Moana 2” and “Mufasa: The Lion King.”
This shift towards quality over quantity aligns with Iger’s previous comments about wanting Disney to focus primarily on entertainment and dial down woke messaging in films. Recent polls have shown that a majority of respondents do not believe it is appropriate to include LGBT characters in Disney programming aimed at children below 12 years old. Many people also expressed a desire for Disney to return to wholesome programming and allow parents to decide when their children are exposed to certain topics.
Aside from these strategic decisions, Disney has also faced challenges in the form of lawsuits. “The Mandalorian” actress Gina Carano sued the company for firing her, claiming she was targeted for expressing views that did not align with Disney’s. Another lawsuit filed by maintenance workers accuses Disney of underpaying employees and failing to provide proper meal and rest periods.
Despite these challenges, Disney remains a powerhouse in the entertainment industry. The company’s focus on quality and balancing sequels with original content shows their commitment to delivering captivating experiences for audiences. Only time will tell how these decisions will shape Disney’s future success.
