“Is Disney losing its touch?”
That’s been the question floating around this week. With news of how much some of Disney’s films have flopped at the box office, and with Disney announcing one live-action remake after another of previously successful movies (think Moana), many believe that the Walt Disney Company and the Walt Disney Studios no longer hold the torch they once held. What are the numbers that are leading to this conclusion?
Related: The Real Reason Disney Movies Won’t be Good Again for Several Years
It was recently revealed Disney lost over $100 million on their Chris Evans starrer Lightyear. The outlet Deadline revealed that Disney around $106 million after the release of Chris Evans’ Lightyear. The production’s total expenses totaled $373 million, yet it only earned $267 million in revenue. Of those earnings, $118.3 million was based domestically, and $108.1 million was based internationally.
Related: With So Many Live-Action Remakes, Analysts Wonder ‘Is Disney Out of Ideas?’
This also isn’t the only movie to do badly in Disney’s recent past.
Along with Lightyear, one other Disney movie was included in Deadline’s biggest box office bombs of the year. In the #1 position was Strange World. Strange World was the Walt Disney Company’s attempt to combine science fiction with their usual fantastical animation. The animated film cost $317.4 million to promote and release, but its profit was only $165 million.
Doing the math, that’s a massive loss of $152.4 million.
Related: Bob Iger Holds Firm on Disney’s Changing Ways
Disney CEO Bob Iger has said since he took over the mantle once again that he is aiming for a quality over quantity strategy for Disney’s content, and perhaps it’s a necessary shift considering the immense losses Disney has seen.
Regardless while it’s definitely clear the Mouse House has its work cut out for it, here’s looking forward to a more successful 2023 for Disney.
