Fans of Marvel and Star Wars movies and series might be in for some tough love. The Walt Disney Company plans to cut back on Marvel and Star Wars content, according to Bob Iger, who spoke with CNBC on Thursday.
The news come as the storied company continues to find ways to cut costs, in an interesting time at the box office. While Disney is studio with the most box office profit in 2023, some of their biggest projects underwhelmed at the box office including Ant-Man and the Wasp: Quantumania, Elemental, and Indiana Jones and the Dial of Destiny.
“You pull back not just to focus, but also as part of our cost containment initiative. Spending less on what we make, and making less,” Iger said Thursday. He also said that a lot of decisions were made to prop up the company’s flagship streaming service, Disney+, and beckon more customers.
Marvel Studios continues to be a dominant force for Disney as Guardians of the Galaxy Vol. 3 grossed over $800 million worldwide. Meanwhile, their newest Disney+ Secret Invasion continues to see increasing viewership. Star Wars on the other hand hasn’t had a movie since 2019, as focus has shifted to their Disney+ series, which have dominated critic and audience ratings with The Mandalorian, Obi-Wan Kenobi, and Andor. Their newest series Ahsoka debuts in August.
Iger addressed Marvel Studios “zeal” to pump up its original content on streaming. “Marvel is a great example of that. It had not been in the television business at any significant level, and not only did they increase their movie output, but they ended up making a number of TV series,” said Iger. “Frankly, it diluted focus and attention.”