Disney CEO Bob Iger has promised to reduce the billion-dollar corporation’s costs, with its movie and TV budget on the chopping block first, including Hulu streaming and even Marvel projects.
The shakeup comes in a move to prioritize quality over quantity, something fans have been claiming since the lackluster Phase Four of the Marvel cinematic universe.
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“You know, there’s so much consumer choice right now, and it comes back to, What is differentiated?” Iger said. “That’s one thing obviously we have talked about, is those brands: Star Wars, Marvel and Disney and Pixar, for instance. But quality is also a differentiator.”
For this reason, Iger told Hollywood Reporter that the corporation would be more judicious with its funds going forward.
“I’m really pleased that the support that I’m getting from the content creators of the company is significant and real, and it comes in the form of reducing the expense per content, whether it’s a TV series or a film, where costs have just skyrocketed in a huge way and not a supportable way in my opinion. They all agree to that.”
Disney has been under constant fire for interjecting its “Woke” activism where it isn’t wanted.
Disney+ Cartoon Features BLM Protest, Says ‘Slaves Built This Country’
Iger added that the shift was about”‘understanding how much volume we need, reducing how much we make. So, it’s how much we spend on what we make and how much we make.”
Iger even floated the idea that Disney would even begin selling off some of its ancillary content to keep the company out of the red.
“And as we look to reduce the content that we’re creating for our own platforms, there probably are opportunities to license to third parties. For a while that was verboten or something we couldn’t possibly do, because we were so favoring our own streaming platforms. But if we get to a point where we need less content for those platforms, and we still have the capability of producing that content, why not use it to grow revenue? And that’s what we would likely do.”
However, the new cautious attitude has not dissuaded Disney from aiming for “newness,” citing the shakeup in Marve;l movie characters.
“And if you look at the trajectory of Marvel over the next five years, you’ll see a lot of newness. Now, we’re going to turn back to the Avengers franchise, but with a whole set of different Avengers, as an example.”
Iger’s generally financially sober commentary comes with plans to lay off 7,000 Disney employees after losing 2 million losers on Disney Plus. Many have speculated that the drop-off can be blamed on various tribulations around Disney’s image.
Disney Plans 7,000 Layoffs After 2 Million Unsubscribe From ‘Woke’ Streaming Service
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The mouse clashed with Florida Governor Ron DeSantis recently. After publicly condemning the Sunshine state’s Parental Rights in Education bill and claiming it is ‘anti-LGBT,’ the Governor removed Disney’s special governing status. The Governor explained that his actions, while sparked by Disney’s hostility, were a long time coming either way.
“Allowing a corporation to control its own government is bad policy, especially when the corporation makes decisions that impact an entire region. This legislation ends Disney’s self-governing status, makes Disney live under the same laws as everybody else, and ensures that Disney pays its debts and fair share of taxes.”
Gov. Ron DeSantis Signs Legislation Ending the Corporate Kingdom of Walt Disney World
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