Bob Iger, the CEO of Disney, recently addressed the challenges faced by the film “The Marvels” at the DealBook Summit in New York, as reported by CNBC.
Iger pinpointed a need for more close supervision during the film’s production, primarily due to constraints imposed by the COVID-19 pandemic. He suggested that this, combined with Disney’s push to increase content for its streaming service, Disney+, made it hard for studio heads to effectively manage the surge in new projects.
“The Marvels,” starring Brie Larson, has seen modest box office returns, garnering $77 million domestically and $187 million globally since its release in November. This performance marks a low point in the Marvel Cinematic Universe’s history, with the film potentially being the first in the franchise not to hit the $100 million domestic threshold.
Iger highlighted the difficulties of shooting the film during the pandemic, citing reduced on-set oversight by studio executives. This situation followed a trend of underperformance for Disney, with other titles like “Ant-Man and the Wasp: Quantumania” and “Indiana Jones and the Dial of Destiny” also not meeting expectations.
This year, for the first time since 2014 (excluding the pandemic years of 2020 and 2021), Disney might not release a film grossing over a billion dollars. This starkly contrasts with 2019, when the studio had multiple billion-dollar successes, including “Avengers: Endgame” and “The Lion King”.
Reflecting on Disney’s past successes, Iger acknowledged the need for more realistic expectations moving forward. He defended the production of sequels, noting their past success and quality, but admitted that storytelling often needed to match the original’s strength, which could be problematic.
According to CNBC, Iger emphasized the importance of having a compelling reason beyond financial motives to produce a sequel. He stated that Disney will continue making sequels only if the underlying story is worthwhile.
“The Marvels” had a disappointing start, with the lowest opening weekend in the Marvel Cinematic Universe, earning $47 million domestically. This was a significant drop from the previous standard set by “The Incredible Hulk” in 2008. The film’s performance worsened in its second weekend, experiencing the most significant drop for a second weekend in the MCU’s history.
Iman Vellani, the star of “The Marvels,” in an interview with Yahoo Entertainment, expressed her detachment from the film’s box office results, stating that it was beyond her control and her focus was on the positive reception from her close circle and the enjoyable experience of the movie.
“The Marvels” continues to show in theaters across the country.
