Disney Is Pulling Back on Marvel Studios and Star Wars Content
Disney CEO Bob Iger said on CNBC there will be a pullback on Marvel and Star Wars content spending and creation.
If it wasn’t already obvious, Disney is slowing down the pace when it comes to new projects from Marvel Studios and Star Wars.
“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,” Iger said during the interview.
Iger admitted in an interview with CNBC that Marvel Studios' foray into television “diluted focus and attention.” The amount of time Marvel Studios was spending on Disney+ likely affected titles like Ant-Man and the Wasp: Quantumania, which underperformed.
“Marvel is a great example of that. It 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,” said Iger. “Frankly, it diluted focus and attention.”
Now it seems like a course correction is happening. It’s why many Marvel titles' release dates continue to shift. It’s also the reason why we’re only getting two weekly Disney+ Marvel series this year in Secret Invasion and Loki season two. Marvel Studios is opting to release Echo, another Disney+ series, in a binge-release fashion. It’s abundantly clear that Marvel Studios may have had too many projects cooking in the oven and some of them are starting to burn.
Iger earlier this year made a comment about Marvel and how the studio was doing sequels. Iger said at the time it was time to explore new characters and maybe not make third and fourth films (a ricochet shot at the performances of Thor: Love and Thunder and Quantumania).
Despite the media narrative, Marvel Studios has gotten a win recently. Guardians of the Galaxy Vol.3 has been a commercial success (over $800M at the worldwide box office) and a critical success. However, it is worth noting that the man who wrote and directed that film, James Gunn, will now be running Marvel’s competitor DC Studios. So, despite it being a win for the studio, it was also a warning sign of what may come from their rejuvenated competitor.
The Star Wars content engine has been lighter than Marvel. Although Disney/Lucasfilm has made an effort to get some theatrical Star Wars films out at some point. For now, Star Wars lives on Disney+, and its upcoming series look to dominate. However outside of the Star Wars glow at Lucasfilm, Indiana Jones and the Dial of Destiny is underperforming at the box office. The big-budget film and iconic franchise aren’t living up to lofty expectations. Maybe Lucasfilm can examine its marketing efforts for this one as the title was released in a crowded summer lineup. Then you got Willow which was written off for tax purposes. So, outside of Star Wars there really isn’t much to be cheerful about at Lucasfilm and even Star Wars has its own issues.
When it comes to non-Star Wars and non-Marvel content, Disney CEO Bob Iger seems interested in Disney getting back into the licensing game. Before Disney+, the company was able to command hefty licensing fees for its content. Iger says licensing remains a possibility.
Disney will report its fiscal third-quarter earnings after the market closes on August 9. Boardwalk Times will be providing comprehensive coverage of Disney’s Q3 earnings.
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Zach Perilstein is the Editor-in-Chief of the Boardwalk Times
