Disney CEO Bob Iger held his first earnings name yesterday since returning to the corporate in November, and the numbers are good! However must be higher! Along with asserting a optimistic monetary outlook for the upcoming yr, together with better-than-expected Disney+ revenues, Iger has additionally revealed that the corporate is shifting forward with sequels for the ‘Frozen,’ ‘Toy Story,’ and ‘Zootopia’ franchises.
“In the present day I’m so happy to announce that we have now sequels within the works from our animation studios to a few of our hottest franchises, Toy Story, Frozen and Zootopia,” Iger stated. “We’ll have extra to share about these productions quickly, however it is a nice instance of how we’re leaning into our unequalled manufacturers and franchises.”
Whereas the information of upcoming sequels is thrilling, the choice is almost certainly monetary as Disney seeks to make a “vital transformation” by means of expense reductions. All within the identify of boosting a sagging inventory value. In an effort to chop prices, the Mouse Home plans to save $5.5 billion partly by shedding 7,000 workers. Now, the corporate has chosen to proceed franchises which have a historical past of creating main dough. Frozen 2 took in $1.45 billion in 2019, whereas Pixar’s Toy Story 4 earned $1.07 billion in 2019 and Zootopia netted $1.02 billion in 2016. In comparison with newer movies, such because the disappointing Unusual World, tried and true titles are the most secure financial bets.
“We consider the work we’re doing to reshape our firm round creativity, whereas lowering bills, will result in sustained development and profitability for our streaming enterprise, higher place us to climate future disruption and international financial challenges, and ship worth for our shareholders,” Iger stated in a press release previous to the Q1 earnings name.
Regardless of the alleged chilly, onerous, inexperienced reasoning behind the sequel announcement, and the all the time unlucky job losses the all the time include “reorgs,” we can not wait for a Frozen 3, Toy Story 5, and particularly a Zootopia 2. Which movie are you most excited to see?
Cybersecurity specialist by day, investigative journalist by night time.
