summary
- Disney CEO Bob Iger talks about plans to revitalize the Marvel brand during quarterly results conference
- Disney is shifting its focus to quality over quantity, reducing annual production of Marvel TV shows and MCU movies
- Iger expresses confidence in upcoming studio plans and excitement for the future the avengers Disney’s stock price fell after the release of the movie’s quarterly financial results.
During Disney’s quarterly earnings call, CEO Bob Iger answered questions from investors about reinvigorating the Marvel brand.
During the call, Iger reaffirmed Disney’s exit from Marvel, something he has said at least twice in the past.
Iger said he is happy with Disney’s future plans for the studio. kingdom of the planet of the apes And he said, “I feel so good.” deadpool & wolverine It’s coming in July.
Eiger doubles quality over quantity
“I’ve been working hard with studios to reduce production volume and focus on quality, and that’s especially true for Marvel,” Iger said.
The investor also mentioned Marvel TV programming, where Iger responded that Marvel TV on Disney+ would be limited to two shows per year instead of four, increasing the number of MCU movies Disney releases per year from two to a maximum of three. He also mentioned that they are reducing the amount.
“I know you mentioned TV shows. Some of what’s going on is a vestige, basically a past desire to increase volume. “We’re going to move away from maybe two TV series a year, and we’re going to cut back on the amount of movies we produce, from maybe four a year to two, up to three,” Iger added.
excited about the avengers
Iger said Disney is really excited about more Avengers movies. the avengers 5 is scheduled for May 1, 2026, after which Avengers: Secret Wars May 7, 2027.
“And we’re working hard on what that path is. We’ve got some good movies in 2019 and then we’re headed toward more movies.” the avengersWe are very excited about this,” Iger said.
“I feel really good about what’s coming up.”
Iger added that he is confident in what Disney has planned.
“Overall, I feel great about this slate. You know, this is something I’ve been spending more and more time working on. The team is a team I’m very confident in. “The mining we’re doing, including all the sequels, is second to none,” he continued. “I feel really good about what’s coming up.”
Disney stock plummets
Disney stock is currently down more than 10% following the release of its earnings and quarterly earnings report.
The quarterly earnings report showed a drop in revenue from the entertainment division, and Disney listed some of the reasons for this:
- In the current quarter, theatrical distribution decreased as no important titles were released compared to the same period last year. Ant-Man and the Wasp: Quantumania Previous year quarter. The prior-year period also included continued performance benefits. Avatar: Water Pathreleased in December 2022.
- Increased impairment in film costs this quarter
The parks sector saw a significant 10% increase, but operating costs also increased.
The report also states that “Disney+ Core subscribers grew by more than 6 million people in the second quarter, and Disney+ Core ARPU increased 44 cents sequentially.”