Walt Disney Co. Chief Executive Bob Iger says that while there's nothing wrong with Marvel's brand, the media giant may rely less on big-budget sequels as it...
Walt Disney Co. Chief Executive Bob Iger says that while there’s nothing wrong with Marvel’s brand, the media giant may rely less on big-budget sequels as it looks to cut costs.
Speaking at a Morgan Stanley conference in San Francisco on Thursday, Iger said Disney DIS will be looking at reducing spending on content, and how many projects it produces.“ “Sequels typically worked well for us. Do you need a third and a fourth, for instance? Or is it time to turn to other characters?” ”
The comments came after the release of Marvel’s “Ant-Man and the Wasp in Quantumania,” the third “Ant-Man” movie, which grossed about $420 million globally in its first three weeks — a blockbuster for many studios, but a letdown for Marvel movies, a number of which have topped $1 billion in revenue. Iger boasted that Disney’s brand remains “very strong, certainly the most powerful brand in family entertainment.”
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