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The Walt Disney Co. CEO Bob Iger said Wednesday it was a “definite mistake” to increase output to “feed the streaming platforms,” saying that recent Marvel releases “suffered greatly” as a result.
In an interview with financial journalist Andrew Ross Sorkin at the DealBook Summit in New York, Iger said that miscalculation was one of the reasons some of this year’s Disney movies, such as “The Marvels,” disappointed at the box office.
“The Marvels” opened to $47 million at the domestic box office. It was the lowest opening weekend in the history of the Marvel Cinematic Universe.
Prior to that opening, the worst debut belonged to 2008’s “The Incredible Hulk” ($55.4 million, not adjusted for inflation).
“Quality needs attention. … It doesn’t happen by accident. Quantity, in our case, diluted quality,” Iger said.
The film stars three women—Brie Larson, Teyonah Parris and Iman Vellani— as the leads, however, it still fell despite a reported production budget of over $200 million.
Forbes reports the film is one of just a handful of female-led Marvel projects and serves as a sequel to the billion-dollar grossing “Captain Marvel” (2019), which also starred Larson as the titular superhero.
The actors strike hurt “The Marvels”
The cast of the film weren’t permitted to promote the film until the strike was called off late Wednesday evening when SAG-AFTRA and the studios reached agreement. Larson and company hurriedly pounced onto social media and made surprise appearances in theaters. And Larson guested on “The Tonight Show” on Friday.
According to Variety, news for film only got worse as it earned $10.2 million in its second weekend, a disastrous 78% drop that now holds the record the MCU’s biggest second-weekend drop.
According to Fortune, The Marvels opened this month with the lowest box-office numbers of any of the 33 movies of the Marvel Cinematic Universe.
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