all about Disney
Disney CEO Bob Iger cleans the house. Since returning to the company, the CEO has already cut billions of dollars in content and laid off thousands of employees. Last Thursday (14), Iger revealed that in order to continue saving, Disney will slow production of series and films from the Marvel and Lucasfilm franchises, which are responsible for the saga. star Wars.
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What the CEO of Disney said
The intent was revealed by Iger to CNBC journalist David Faber, during an Allen & Co. In Idaho, this Thursday (13).
The CEO returned to Disney at the end of 2022 with the goal of making the company’s digital business profitable. This includes the Disney + streaming service. To this end, he cut costs and franchised Marvel and star Wars will be the next victim.
[Marvel]wasn’t in the TV business on any significant level, and not only did they ramp up movie production, they ended up doing multiple TV series. Honestly, it has impaired concentration and attention.Bob Iger
What will happen to Disney and Star Wars?
- According to him, upcoming productions and the need for a Marvel sequel will be re-evaluated.
- Additionally, Disney, which bought Marvel Studios in 2009, has also invested in Pixar, but its releases have fared lower than expected at the box office.
- On the other hand, Lucasfilm hasn’t had a new movie in theaters since 2019 and has invested in TV series, such as AndorAnd The Mandalorian that it Obi-Wan Kenobiat a time when digital work is the biggest challenge for Disney.
context
- Disney has already cut spending in both its digital and television businesses. In the interview, Iger also revealed that the company is considering selling its investment in television.
- It all comes amid lower-than-expected box office releases and a writers’ strike, which has been going on since early May.
- On Thursday (13th), another sector joined the strike: the actors announced that they would suspend their activities on Friday (14th), which did not please the CEO of Disney.
- Bob Iger declared that professionals are not “realistic” with their expectations.
- Thus, Disney is in a vulnerable position as it has to invest to get a return.
with information from CNBC
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Eleanor Fairchild is a contributor at Mediarunsearch.co.uk, covering a wide range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting and useful information that helps readers stay informed about current events and developments. Her work highlights stories that matter to everyday audiences, presenting complex issues in an accessible and engaging way while maintaining a strong commitment to accuracy and relevance.