Disney CEO Bob Iger defended the studio’s sequels and discussed his plans to revitalize the film division at The New York Times’ DealBook Summit today. One year after returning to lead Disney, Iger discussed the impact of streaming on moviegoing audiences after the Covid lockdowns.
“The experience of accessing [the films’ and watching them in the home is better than it ever was,” he told Andrew Ross Sorkin. “And [it’s] a bargain when you think about it. Streaming Disney+ you can get for $7 a month. That’s a lot cheaper than taking your whole family to a film. So, I think the bar is now raised in terms of quality about what gets people out of their homes, into movie theaters.”
He added, “I’m not sure another studio will ever achieve some of the numbers that we achieved. I mean, we got to the point where if a film didn’t do a billion dollars in global box office, we were disappointed,” he said. “That’s an unbelievably high standard and I think we have to get more realistic.”
The studio CEO also defended the Disney’s plans to make sequels based on popular franchises like Frozen. “I think I don’t want to apologize for making sequels. Some of them have done extraordinarily well,” he said. “And they’ve been good films too. I think there has to be a reason to make it, beyond commerce. You have to have a good story. And we have made too many. That doesn’t mean we’re not going to continue to make them.”
Iger noted that he sometimes finds comfort by visiting Walt Disney’s office, which has been preserved as it was. He said, “I go into his office, just to sort of feel the presence. I know that sounds a little weird, but it’s kind of a nice way to relax and appreciate the legacy of the company. And the first thing you really realize when you study Walt is that Walt was unbelievable at adapting to change. Firstly, he loved technology, he loved to use technology. And he also knew that the world was not a static place.”
He said that the studio will be focusing on quality instead of quantity after the box office disappointments of titles such as The Marvels and the last summer’s Indiana Jones movie. However, he also defended the studio’s track record. “I’m not sure another studio will ever achieve some of the numbers that we achieved. I mean, we got to the point where if a film didn’t do a billion dollars in global box office, we were disappointed. That’s an unbelievably high standard.”
At a Disney town hall on Tuesday, Iger said, “I knew that there were myriad challenges that I would face coming back. I won’t say that it was easy, but I’ve never second guessed the decision to come back, and being back still feels great.”
Sources: Deadline.com, CNBC.com
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