Disney confirms big failures for Star Wars, The Marvels and Wish in its Q1 earnings report released today.
The report offers that Star Wars continues to decline as the franchise is a big bust in its Consumer Products division which includes comics and toys. The report also offers Spider-Man remains popular.
Regarding The Marvels and Wish, Disney reveals they made over a billion dollars less than the preceding year’s release of movies which includes Avatar 2 and Black Panther 2.
The Marvels and Wish are massive fails
The info for the movies reveals that in the quarter that ended Dec. 31 in 2022, Disney brought in $2.651 billion with Black Panther: Wakanda Forever, Avatar: The Way of Water, and Strange World (note: Strange World only brought in $73 million, so Disney including the film is pure spin as it had a reported budget of $180 million, a massive failure).
However, the quarter ending Dec. 30, 2023 only brought in $1.632 billion, with The Marvels and Wish, a difference of $1.019 billion.
The report also reveals The Marvels (reported budget of nearly $300 million) and Wish (reported $200 million budget) saw a loss of $224 million while the preceding year didn’t see a loss.
“The increase in operating loss was due to the performance of The Marvels and Wish in the current quarter compared to Black Panther: Wakanda Forever, Avatar: The Way of Water and Strange World in the prior-year quarter,” states the report.
The Marvels only brought in $206 million and is the MCU’s worst performing movie at the box office; Wish brought in $244 million.
Star Wars continues to decline
The info for Consumer Products also shows a decline for the quarter ending December 2023 compared to the preceding year.
Consumer Products revenue at the end of Dec. 2022 was $1.379 billion while at the end of Dec. 2023 it dropped to $1.359 billion.
“The increase in consumer products operating results was due to licensing revenue growth resulting from higher sales of products based on Spider-Man and Mickey and Friends, partially offset by a decrease in sales of products based on Star Wars,” states the report.
News Star Wars products aren’t selling as well isn’t a surprise as there hasn’t been a film released in years. We can also add The Mandalorian Season 3 was a big disappointment, and how many Baby Yoda’s can you buy? Fans probably aren’t interested in playing with Ahsoka figures and Andor doesn’t really have a big draw in the action figure department.
The report also revealed Disney+ subscribers decrease by 1.3 million.
Back in July of last year, Disney CEO Bob Iger announced that Disney would be pulling back on both their Marvel and Star Wars brands which of course you don’t do with something that is successful.
Iger also said Marvel Studios has lost focus in his most recent earnings call.
