Disney aims to achieve a box office resurgence through sequels, prequels, and enchantment.
- To restore its standing and regain success at the box office, Disney is leaning on popular and cherished franchises.
- On Friday at the D23 Expo, the company presented a three-hour long entertainment program that showcased upcoming theatrical films, television series, and stage productions.
- Disney's CEO, Bob Iger, has acknowledged that the company prioritized quantity over quality in recent years. He has stated that his goal upon returning was to rectify this issue.
At the Honda Center in Anaheim, California on Friday night, Disney CEO Bob Iger was greeted by a standing ovation from a crowd of 12,000 Disney fans. Despite his age of 73, Iger couldn't help but smile as he tried to calm the excited audience back down.
"I was going to say good evening and thank you for that warm welcome, but that was more than a warm welcome," Iger stated to the attendees of Disney's first showcase at its biannual D23 Expo.
Disney CEO Bob Iger has attended the exposition event for the company's biggest fans for the first time in five years, having briefly retired from his position for nearly two years before returning to the helm in November 2022.
Disney's theatrical business experienced a downturn due to pandemic shutdowns and labor strikes, which coincided with his absence. However, the company's post-pandemic box office was also affected by executive decisions to increase content production for its streaming service, Disney+. Iger has admitted that Disney sacrificed quality for quantity in order to right the ship.
On Friday, he presented a three-hour long presentation detailing Disney's upcoming theatrical films, television series, and stage productions.
To restore its standing and regain success at the box office, the company is leaning heavily on popular and cherished franchises. Meanwhile, when it explores new territories, it is drawing on proven talent both in front of and behind the camera.
Revisiting old favorites
From two major franchises, Disney had two major box office successes heading into D23.
The latest Pixar film, "Inside Out 2," has surpassed all other animated films to become the highest-grossing of all time, earning $1.5 billion at the global box office. Meanwhile, the first R-rated Marvel Cinematic Universe flick, "Deadpool & Wolverine," has set new records for an R-rated film and is expected to reach the $1 billion mark this weekend.
On Friday, Auli'i Cravalho and Dwayne Johnson performed a song from "Moana 2" with a group of Polynesian dancers and drummers to kick off the entertainment showcase. The sequel to the 2016 hit is set to hit theaters during Thanksgiving and is predicted to become Disney's third billion-dollar film of 2024, according to box office analysts.
The first "Moana" film generated less than $700 million at the global box office, but anticipation for more content is expected to drive high ticket sales in November. It was the most streamed film of 2023.
Disney and Hollywood are known for producing sequels and prequels, and Iger has previously advised investors that the company will be more selective about which past stories it continues to explore. However, its recent entertainment showcase featured numerous additions to popular franchises.
During Friday's presentation, Disney showcased seven theatrical titles, with five of them being from existing franchises, including "Moana 2," "Toy Story 5," "Zootopia 2," "Frozen III," and "Incredibles 3."
It's no surprise that Disney is revisiting these successful franchises. The Toy Story franchise has grossed $3.2 billion worldwide, the two Frozen films have surpassed $2.7 billion, the two Incredibles films have tallied $1.8 billion globally, and "Zootopia" reached $1 billion during its 2016 run.
Disney unveiled two upcoming films with contrasting themes: "Elio," which follows a young boy on a journey to outer space, and "Hoppers," which focuses on a young girl who transforms into a robotic beaver to infiltrate the animal kingdom.
Adrian Molina, who co-wrote "Coco" and directed "Elio," has Zoe Saldana ("Avatar," "Guardians of the Galaxy") in the voice cast. Meanwhile, "Hoppers" features Jon Hamm ("Mad Men") and Bobby Moynihan ("Saturday Night Live") as voice actors.
Disney's strategy is to offer a mix of old favorites and newcomers across all its studios.
In 2026, Lucasfilm will release its first Star Wars feature film since 2019's "The Rise of Skywalker," titled "The Mandalorian and Grogu." The movie will follow the beloved duo from "The Mandalorian," as seen in footage from Friday's panel, where Mando and Grogu were shown battling stormtroopers and AT-ATs on an icy planet.
The second season of "Andor," a prequel series to "Rogue One: A Star Wars Story," is set to be released by Lucasfilm, following the journey of the reluctant hero Cassian Andor as he navigates a galaxy controlled by the Galactic Empire.
"Skeleton Crew," a "Goonies"-like adventure series, features Jude Law and a group of four kids who accidentally travel into space and become lost among the stars.
Two more Star Wars feature films are scheduled for release in December 2026 and December 2027, but the details about the director and storyline are yet to be revealed. Despite this, the franchise continues to be one of the most successful globally, with over $10 billion in ticket sales since the release of "A New Hope" in 1977.
Disney has several sequels planned for release in the near future, including "Avatar: Fire and Ash," "Freakier Friday," and "Tron: Ares." Additionally, there will be a live-action remake of "Snow White" in March and a "Lilo and Stitch" film later in 2025.
A Marvel-ous new strategy
At Marvel Studios, a reformation is occurring as the studio balances stories around its existing characters while introducing new heroes and villains.
The fall from grace that Marvel experienced after "Avengers: Endgame" was unexpected, with Disney releasing an overabundance of content that felt like homework to audiences who once loved all things Marvel.
The lowest point in the Marvel Cinematic Universe's history was the 2023 film "The Marvels," which had the lowest domestic opening ($46.1 million) and the lowest global box office revenue (under $200 million) for the franchise.
At D23, Kevin Feige announced that Marvel Studios is limiting the number of series it produces for Disney+ and focusing more on big-screen projects. Feige also revealed new movie titles and the return of Robert Downey Jr. as Doctor Doom at San Diego Comic Con a few weeks ago.
Disney+ will soon feature three Marvel television series, including "Captain America: Brave New World," "Thunderbolts," "The Fantastic 4: First Steps," "Blade," "Avengers: Doomsday" (formerly "Avengers: Kang Dynasty"), and "Avengers: Secret Wars."
In September, the first episode of "Agatha All Along" will be released, featuring Agatha Harkness from "Wandavision" as she tries to regain her powers with a group of witches. Kathryn Hahn will reprise her role as Agatha, and the cast will also include Aubrey Plaza and Patti LuPone.
In 2025, "Ironheart," featuring Riri Williams, will be released alongside a rebooted "Daredevil: Born Again," which includes the entire main cast from the Netflix "Daredevil" show.
Marvel's slate received applause from D23 audiences, indicating that the superhero genre's popularity remains strong. The studio's new approach may help revive the MCU.
Reynolds thanked Disney and Marvel for allowing "Deadpool & Wolverine" to poke fun at the studio in a pre-taped video for Friday's showcase.
""Saving the studio is my way of showing love," he stated."
The MCU franchise has generated over $30 billion at the box office since its inception in 2008, making it the highest-grossing film franchise of all time and a consistent ticket sales driver in cinematic history.
"Iger stated on Friday that there is nothing more enjoyable for them than to delight, astonish, and fill your hearts with joy and amazement. They understand that when they achieve this, they are performing their duties effectively."
Business News
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