Disney is adopting a 'quality over quantity' approach when it comes to its future films. Following a string of box office disappointments in 2023, the studio is rethinking its strategy, and not only looking to reduce the amount of movies its puts out but their big budgets, as well.
"We are focused on improving the quality of our films, and on better economics – not just reducing the number of titles we release, but also the cost per title," CEO Bob Iger said in a recent statement. "We're maximizing the full impact of our titles by embracing the multiple distribution windows at our disposal, enabling consumers to access our content in multiple ways."
In early July, it was reported that Disney was the most financially successful studio in the first half of the year, pulling in $3.4 billion across its Marvel, Lucasfilm, and Pixar pictures. That said, costly outings failing to meet box office expectations – and in some cases, win over audiences, too – has evidently had Disney execs heading back to the drawing board.
Indiana Jones and the Dial of Destiny, for example, is said to have had a budget of almost $300 million, and yet only made $369 million internationally. Elemental, Ant-Man and the Wasp: Quantumania, and The Little Mermaid earned $400 million, $476 million, and $566.6 million respectively. Haunted Mansion, which is yet to release in the UK, has made just $63.2 million so far.
Elsewhere, Guardians of the Galaxy Vol. 3 fared better, pulling in $845 million against a $250 million budget. But it's evident that cinemagoers just aren't showing up to Disney titles like they used to, which is why it seems like a smart move for the production company to slow its roll, and consider its spending and output more carefully.
For more, check out our list of the most exciting upcoming movies heading our way throughout 2023 and beyond.
