Disney to Slow Marvel, Star War Projects, Cut Park Ticket Prices
By Movieguide® Contributor
Disney CEO Bob Iger recently spoke about his plans for the company, including his vision for franchises like Marvel and Star Wars and streamers like Disney+ and Hulu.
During an appearance at Morgan Stanley’s annual Technology, Media & Telecom Conference, Iger revealed that Disney is going to focus on quality over quantity.
This means slowing down on Marvel and Star Wars projects.
“Do you need a third or a fourth, or is it time to turn to other characters?” Iger asked. He added that audiences can expect “a lot of newness” in future movies and shows: “We’re going to turn back to the Avengers franchise, but with a whole set of different Avengers.”
As for streaming services, Iger admitted that “the environment is very, very tricky right now” and they are moving “very, very carefully” as they make changes to Hulu and Disney+.
One change he did reveal? Disney+ pricing, which he described as “off,” will “adjust accordingly” in an effort to keep subscribers.
Iger said that the pricing for Disney’s theme parks was also “too aggressive” and plans to cut ticket prices.
“I think there’s a way to continue to grow that business, but be smarter about how we price so that we maintain that brand value of accessibility,” the CEO explained.
Another surprising detail from Iger’s appearance was the announcement that Disney will start making content for rivals again.
“As we look to reduce the content that we’re creating for our own platforms, there probably are opportunities to license to third parties,” Iger explained. “For a while, that was something we couldn’t possibly do because we were so favoring our own streaming platforms. But if we get to a point where we need less content for these platforms, and we still have the capacity of producing that content, why not use it to grow revenue?”
Iger might seem like he’s planning on sticking around for a while, but he impressed upon the audience that his main goal is “succession.”
“My goal is essentially to leave here in two years with a trajectory… that is very optimistic and positive,” he concluded.
Movieguide® previously reported on Iger’s plans to change things up at Disney:
Disney plans to pull back on the amount of Star Wars and Marvel content on Disney+ as the company tries to rebound from a financially shaky year in 2022.
The Disney CEO said: “We want the quality on the screen, but we have to look at what they cost us.”
The Hollywood Reporter notes:
The directive to rein in costs and output arrives as Disney prepares to release Marvel’s Ant-Man and the Wasp: Quantumania on Feb. 17 and as The Mandalorian season three awaits its March 1 Disney+ debut. Marvel is Disney’s most important supplier of product, the subsidiary with the highest output — and under Iger’s directive, it could feel cuts the soonest. “There is going to be a level of rigor on Marvel and across the entire company,” one company insider says. “Numbers matter now, and costs are going to be outlined and enforced.”
Previously, Marvel President Kevin Feige green-lit five new Marvel shows for 2023, WHAT IF…? Season 2, LOKI Season 2, IRONHEART, and AGATHA: COVEN OF CHAOS.
According to THR, the only surefire projects for 2023 are LOKI Season 2, as well as SECRET INVASION starring Samuel L. Jackson.
In 2021 and 2022, which encompasses Phase 4 of Marvel Studios release slate, there were 18 new projects.
Despite Feige’s initial vigor in creating new movies, spinoff series and other MCU-related content, he confirmed Iger’s decision to slow down.
“The pace at which we’re putting out the Disney+ shows will change,” Feige told Entertainment Weekly.
Despite Marvel’s presence on the big screen, STAR WARS fans haven’t had a theatrical release since 2019.
Disney has released a number of animated and non-animated series, such as THE BAD BATCH Season 2, ANDOR, and a third season of THE MANDALORIAN coming March 1.
“Lucasfilm may ramp up, but it will have to abide by the same fiscal discipline as the rest of the company,” a source revealed to THR.
As streamers navigate a financially challenging year, Disney hopes to focus their efforts on their already successful IP.
While a less amount of content will inevitable save Disney money, promoting moral, pro-family, and uplifting content will win back their loyal, family audiences.
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