Quality Over Quantity: Disney CEO Bob Iger Reveals Plan To Cut Costs
By Movieguide® Contributor
Disney CEO Bob Iger recently revealed that the company plans on pulling back when it comes to creating Marvel content.
“In our zeal to basically grow our content significantly and serve our streaming offerings, we ended up taxing our people, in terms of their time and their focus, way beyond where they had been,” Iger explained. “Marvel is a great example of that. They had not been in the TV business at any significant level. Not only did they increase their movie output, but they ended up making a number of television series for Disney+.”
Iger said the large amount of Marvel content “diluted focus and attention,” which led to lower box office and streaming numbers.
These statements echo comments he made earlier this year while attending the Morgan Stanley Technology, Media and Telecom Conference.
“What we have to look at at Marvel is not necessarily the volume of Marvel stories we’re telling but how many times we go back to the well on certain characters,” he said. “Sequels typically work well for us. Do you need a third and a fourth, for instance, or is it time to turn to other characters?”
In an effort to save money, Iger has launched layoffs of 7,000 employees and plans to limit spending across the company.
The goal? “Spending less on what we make, and making less,” Iger explained.
This makes sense, especially when looking at Marvel’s box office numbers.
TVLine reported that “only two Marvel movies — the Sony co-pros 2019’s SPIDER-MAN: NO WAY HOME ($1.1 billion) and 2021’s pandemic-era SPIDER-MAN: FAR FROM HOME ($1.9 billion) — have reached the billion-dollar mark.”
One of their most recent releases, ANT-MAN AND THE WASP: QUANTUMANIA, didn’t even gross $500 million.
Movieguide® previously reported on Iger’s plans to slow down Marvel’s content creation:
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.
