On Thursday, Disney CEO Bob Iger announced, coinciding with the start of the SAG-AFTRA strike, stating that the company plans to reduce the production of Marvel and Star Wars content due to declining box office revenues. This decision comes as a response to the lower financial performance of these franchises.
In a live interview, Iger explained the decision is meant to address a “diluted focus and attention” among viewers and decision-makers for both franchises and will ultimately cut costs. “You pull back not just to focus, but also as part of our cost containment initiative. Spending less on what we make, and making less,” the 72-year-old said.
Marvel properties are just not experiencing the same level of box office success as during the “Infinity Saga” era. The Infinity Saga, which spanned from 2008 to 2019, consisted of 23 film releases, culminating in the highly successful Avengers: Endgame, which earned $2.799 billion worldwide and followed by Spider-Man: Far From Home. However, recent Marvel releases have not achieved similar box office results, prompting the adjustment in Disney’s content production strategy.
The current challenges faced by Marvel can be attributed to a combination of oversaturation and superhero fatigue. Disney responded to what was presumed to be a high demand for Marvel content by releasing numerous projects. In 2021 alone, Disney released four Marvel Cinematic Universe (MCU) films, namely Black Widow, Shang-Chi and the Legend of the Ten Rings, Eternals, and Spider-Man: No Way Home. Additionally, they produced five series exclusively for the Disney+ streaming service, including WandaVision, The Falcon and the Winter Soldier, Loki, What If…?, and Hawkeye. The substantial quantity of releases within a short timeframe may have contributed to audience exhaustion and a decreased overall reception.