Disney CEO "Reducing the Number of Marvel and Star Wars Installments"

Bob Iger, CEO of Disney, revealed that the company is reducing the number of productions and budget expenditures for Marvel Studios and the Star Wars series to cut costs.

Robert Bob Iger, CEO of Disney

In an interview with CNBC on the 13th (local time), CEO Iger commented on the box office performance of the company's films, saying, "There was some regret that some of the recent new releases could have performed better," and added, "Marvel is a good example of not achieving great success, especially in the TV business."

He further explained, "Not only did we increase the volume of film production, but we also produced many TV series, which diluted our focus, and that became a bigger cause of failure than anything else."

When asked if the production pace of Marvel and Star Wars series would slow down, he said, "We are spending less on what we are making and producing less. This is not only to focus more but also part of a cost-cutting strategy."

Regarding the streaming business, he expressed confidence, saying, "I am sure it will become a profitable business and drive the company's growth," and predicted, "Since it is a model that directly connects with consumers, excluding the theme parks and resorts business, it will be an important business for us."

About the sports channel ESPN, he said, "We have done a great business and want to continue this business in the future," but also noted, "However, the problem is that maintaining the sports channel costs too much money, so we are open to finding strategic partners who can help with distribution or content." He also mentioned that they are working on fully transitioning ESPN to a streaming service but did not specify a timeline.

Additionally, he spoke about further restructuring of Disney's business, stating, "We are broadly considering restructuring for non-growth businesses and linear businesses (the opposite concept of platform businesses)."

The day before, Disney held a board meeting and unanimously approved extending CEO Iger's term by two years until 2026. Iger managed Disney for about 15 years starting in 2005 and stepped down in 2020. However, after his successor Bob Chapek was dismissed early due to poor performance, Iger returned to lead Disney again in November last year.

He added, "Since my return, we have achieved significant cost savings in a short period, but there are still many challenges to address," and noted, "The disruption in the traditional TV business is the most notable. That disruption has been greater than I had anticipated."

This content was produced with the assistance of AI translation services.