OAN’s Brooke Mallory
12:56 PM – Sunday, June 25, 2023
According to a Hollywood analyst, the Walt Disney Company lost roughly $900 million on recent films.
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Box office analyst Valliant Renegade said that the Walt Disney Company lost about $900 million on its previous eight studio titles.
Despite the significant film releases with hefty marketing budgets, Disney still suffered massively. The following films suffered significant financial losses during their release: “Lightyear,” “Thor: Love and Thunder,” “Strange World,” “Black Panther: Wakanda Forever,” “Ant-Man and the Wasp: Quantumania,” “Guardians of the Galaxy Vol. 3,” “The Little Mermaid,” and “Elemental.”
According to Valliant Renegade, the eight films cost $2.75 billion but only made $1.86 billion for Disney, resulting in a $890 million loss.
“Strange World” lost $197 million, while “Lightyear” lost $106 million, according to Deadline.
Recent Disney films have incorporated “woke” plot lines. The film “Strange World” included a homosexual romance, while the animated children’s film “Lightyear” showed lesbians kissing.
The movie “Elemental” discusses the dangers of xenophobia and also features the company’s first non-binary character.
“One of the things that we always talk about here, that is the perfect time to remind everybody, is that Disney consumes all of its own content post-theatrical,” Valliant Renegade stated. “…Meaning that Disney that used to license their big content out like the entire MCU [Marvel Cinematic Universe] to places like Netflix for years, those were billions of dollars’ worth of third-party contracts that have now been taken off the table.”
“So not only do we need to consider how much money Disney has lost at the box office, we also need to consider how much money Disney has lost in economic-opportunity costs,” the Hollywood analyst said in a video. “You see, that’s how much money they could have made had they actually taken these films and licensed them to Netflix, or Amazon Prime, or even similar to what Universal does with a split Pay 1 window.”
Bob Iger took over as CEO of Disney in November, succeeding Bob Chapek.
Representatives from the notable corporation said in February that it was conducting a “strategic restructuring.”
Disney then announced 7,000 job cuts last month.
“The 7,000 layoffs — which represent 3.2% of Disney’s total headcount of about 220,000 worldwide as of Oct. 1, 2022 — are part of Disney’s efforts to achieve about $5.5 billion in cost savings. Of that, $2.5 billion represents ‘non-content costs’ (including labor costs) and $1 billion of those targeted cost-reductions were already underway in February, Iger said. Disney is aiming for an annualized reduction of $3 billion in non-sports content costs, expected to be realized over the next several years,” Variety reported.
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