Disney CEO Bob Iger is making big changes to the company’s movie production. He admitted that Disney’s films have been struggling at the box office due to strikes and other issues.
Speaking at a conference hosted by Morgan Stanley in San Francisco on Tuesday, he asserted that the Mass Media company is actively working on improving its feature film business, which has been facing tough times and needs attention.
In the statement, Iger also became brutally honest, rejecting the notion of audience’s fatigue with superhero movies. He believes the real issue lies in the quantity of releases rather than the quality of the content itself.
Disney CEO Bob Iger Stresses Audience Demand for Quality
Bob Iger disagreed with the notion of superhero fatigue, stating that it was not a coincidence that Marvel’s initial 33 films collectively earned nearly $30 billion at the box office. He continued saying that audiences (reported by The Hollywood Reporter):
“Just want good films. If you build it good. They will come. Oppenheimer’ is a perfect example of that. Just a fantastic film.”
He stressed that audiences simply want quality films, regardless of whether they belong to a franchise or not. He cited Oppenheimer as a prime example, saying it’s an outstanding film that attracts viewers solely because of how excellent it is.
Iger was asked about what he’s doing to improve the film business. To this, the 73-year-old said it’s necessary to make tough decisions and cancel projects that aren’t up to standard.
He stated that the studio has already scrapped some projects that it didn’t feel were good enough. The CEO admitted that he has been “spending a lot of time with the creators, watching these films, giving detailed notes in these films” that will result in improvement.
Disney’s Confidence Soars for 2024 Film Lineup
On a related note, Bob Iger also gave props to Disney’s 2024 movie lineup. He singled out the upcoming Kingdom of the Planet of the Apes “one of the better films in the franchise.”
Plus, he teased about the eagerly awaited sequels to Inside Out and Moana. And he’s pretty hyped about the Marvel release Deadpool & Wolverine, thinking it’s going to be one of Marvel’s biggest hits of the year.
The New York businessman made these remarks at a crucial time for Disney, as two activist shareholders—Trian and Blackwells Capital—are both vying for board seats.
During Disney’s latest earnings call, Iger revealed several initiatives to push back against activists. These involve a hefty investment of $1.5 billion in Epic Games to integrate Disney franchise IP into Fortnite, a surprise Moana sequel, Taylor Swift‘s movie coming to Disney+, and the launch of ESPN’s direct-to-consumer flagship service for fall 2025.
