Disney Confirms Failures Star Wars Marvels Wish
Disney's Q1 earnings report reveals big failures for Star Wars, The Marvels, and Wish, with a decline in Consumer Products revenue.
In its Q1 earnings report released today, Disney has confirmed significant failures for Star Wars, The Marvels, and Wish. The report reveals that Star Wars is experiencing a decline in its Consumer Products division, encompassing comics and toys, while Spider-Man remains popular.
The earnings report also provides details about the performance of Disney movies in the quarter that ended on December 31, 2022. The company brought in $2.651 billion, with Black Panther: Wakanda Forever, Avatar: The Way of Water, and Strange World. It's important to note that Strange World only brought in $73 million, despite having a reported budget of $180 million, making it a massive failure.
Additionally, the report shows a decline in Consumer Products revenue for the quarter ending December 2023 compared to the previous 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 report attributes the increase in consumer products operating results 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.
It's not surprising that Star Wars products aren't selling as well, considering there hasn't been a film released in years. The Mandalorian Season 3 was also a big disappointment, and the market for Baby Yoda merchandise may be oversaturated. Fans may not be interested in purchasing Ahsoka figures, and Andor doesn't have a significant draw in the action figure department.
Furthermore, the report reveals that Disney+ subscribers decreased by 1.3 million. Last year, Disney CEO Bob Iger announced that Disney would be pulling back on both their Marvel and Star Wars brands, which indicates that the company is acknowledging the lack of success in these areas.