Disney CEO Bob Iger revealed that the company will be reeling back on creating more content for Marvel Studios and the Star Wars franchise.
In a recent CNBC appearance, the exec explained that Disney’s cost-cutting measures and its projects’ recent low performances at the box office were the reasons behind the decision. “You pull back not just to focus, but also as part of our cost containment initiative. Spending less on what we make, and making less,” he said.
Iger added that the company plans on further supporting its Disney+ streaming service in an attempt to gain more customers. He used Marvel as an example of Disney’s “zeal” to increase its original content on its streaming platform, “[Marvel] had not been in the television business at any significant level, and not only did they increase their movie output, but they ended up making a number of TV series. Frankly, it diluted focus and attention.”
In addition, he addressed the possibility of Disney licensing its content to other streamers in a manner similar to Warner Bros. Discovery’s recent talks of putting its HBO content on Netflix. “It’s a possibility. I won’t rule it out,” he confirmed, further stating that this licensing model was a cornerstone in the orthodox TV business.
Elsewhere in entertainment, check out a short teaser for Prime Video’s Mr. & Mrs Smith series starring Donald Glover and Maya Erskine.
