Disney CEO Bob Iger said on an earnings call that the studio will leverage its existing library of storylines to create more sequels because Disney has a high profile and is easy to market. Stated.
During the company’s second-quarter 2024 earnings call, Iger said there will be good movies, but it doesn’t seem like Disney is going to change course and start distributing new content.
What was promised in return was continued use of Disney’s intellectual property, which seemed to have lost its connection to fans.
“We’ve been working with studios to reduce production and focus on quality, and that’s especially true for Marvel,” Iger told Morgan Stanley investors.
The CEO added that the company is working on a path forward, which will definitely include “more Avengers.”
“I think this is a team that I have tremendous confidence in, and the IP that we’re mining, including all the sequels that we’re working on, is second to none. So I’m really happy with what’s going to happen,” Iger said later.
Certain “mining” of its own titles cost studios more than $600 million in losses on just four films in 2023. The Indiana Jones sequel, the Haunted Mansion remake, and Marvel’s were all pre-existing IPs that were catastrophic failures. Despite being an original, Disney’s “Wish” lost more than $130 million.
“I think now, given the competition in the overall movie market, there’s obviously a lot of value in sequels because they have the name recognition and they don’t cost as much in terms of marketing.”
Iger mentioned specific sequels multiple times, including the latest installment of Planet of the Apes, as examples of how great sequels can be.
“Studio IP, as you know, I’ve been talking about this a lot and I’m very happy with what’s coming up, including the three big movies that we have.”
Mr. Iger then mentioned “Planet of the Apes,” the sequel to 2015’s “Inside Head.” performance incomeand the latest “Deadpool” movie, which includes a crossover with X-Men co-star Hugh Jackman.
The Disney boss also mentioned an “Alien” sequel multiple times.
Later in the call, Iger specifically said the studio intends to “lean on sequels,” including animated films such as “Toy Story.”
He also boasted about the sequel to the 2016 animated film Moana starring Dwayne “The Rock” Johnson and set in the Pacific islands, as well as the CGI Lion King spinoff Mufasa.
Iger blamed the competitive market for the need to return to sequels, saying sequels have better name recognition and are easier to market.
“I think now, given the competition in the overall movie market, there’s definitely a lot of value in sequels because they have the name recognition and they don’t cost as much in terms of marketing.”
“Especially when it comes to Marvel, it implies that we actually have both…We mentioned ‘Deadpool’ this summer, which is a sequel, and ‘Avengers.’ We also talked about “Captain America” being released in 2025.”
Still, the CEO insisted that the company will balance out original work, citing Marvel’s Thunderbolts, which is scheduled for release in 2025. He added that a third Avatar movie is in the works, and that there may be room for yet another Planet of the Apes movie until that one is successful. He said no. [current] movie. “
After all this, Mr. Iger insisted that he would not “lean into libraries unnecessarily” and would “look at them opportunistically.”
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