Disney CEO Bob Iger is ready to change things up, much to the detriment of Marvel and Star Wars fans.
In a new interview with CNBC, Iger didn’t hold back when discussing the need for change, particularly in relation to Marvel. He cited an “influx of Marvel TV shows” as a contributing factor to the “diluted focus and attention” on the films, leading to disappointing box office performances.
One such example was Ant-Man and the Wasp: Quantumania, which fell short of expectations, raking in “just” $463 million. This underwhelming performance, coupled with an overall drop-off in box office revenue, has prompted Iger to reconsider the allocation of Disney’s resources.
When pressed on whether he intends to scale back both Marvel and Star Wars productions, Iger explained that it was part of a broader “cost containment initiative.” He emphasized the importance of spending less on content creation, potentially leading Disney to explore licensing its original programming to other streaming services, rather than keeping it exclusively on Disney Plus.
But it’s not just the superhero universe that’s in for a potential shake-up. Iger hinted at a comprehensive review of Disney’s TV networks, such as ABC, National Geographic and FX, suggesting that the company may be considering a sale of these channels. While acknowledging the creative value they bring, Iger believes the distribution and business models supporting these networks are “definitely broken.” The mention of potential strategic partners for ESPN also raised eyebrows, as it hinted at a possible departure from cable television for Disney.
Iger’s statements come at a time when the company is also grappling with strikes by writers and actors. As Iger’s plans for Disney’s future take shape, the entertainment landscape is set to change over the next few months. Only time will tell if Iger’s vision will propel Disney to new heights or create further disruptions.
Sorry for your loss, Marvel nerds and Star Wars cosplay diehards.
