The films contributing to the losses include “Lightyear,” “Thor: Love and Thunder,” “Strange World,” “Black Panther: Wakanda Forever,” “Ant-Man and the Wasp: Quantumania,” “The Little Mermaid,” and “Elemental.” The eight films cost roughly $2.75 billion to produce but only brought in $1.86 billion.
I cover the entertainment industry focusing on movies and theme parks. Disney has revealed that it spent $965 million on four of its most high-profile streaming and film flops this year. Disney has been on a cost-cutting drive since its chief executive Bob Iger returned to the helm of the company in November last year.
Disney's linear TV business continues to slip, with revenues declining 9% in the fourth quarter compared to last year – an even larger decline than in its recent third quarter, when revenue fell 7%.
“Wish” fell behind the opening weekend gross of nearly every other film produced by Walt Disney Animation Studios, only surpassing the openings of a few flops like “Strange World” and “Raya and the Last Dragon,” and it failed to reach the highs of its seven films that opened with more than $45 million in the 2010s.
Leonardo DiCaprio had the chance to play the lead role of Max Dennison in 1993 cult classic fantasy comedy movie Hocus Pocus, but ultimately turned it down.
Source: Bloomberg research, Walt Disney Co. All told, Disney officials have indicated that visitors spend 40% more per day in US parks than they did pre-pandemic. The company's operating income from parks and experiences fell 13% last quarter, but was still 24% above where it was in 2019.
For the fiscal year ended October 1, 2022, Disney Star's operating loss from sports was $237 million, while revenue stood at $1.2 billion. For the same period, Walt Disney's sports business earned revenue of $17.2 billion while generating an operating profit of $2.7 billion.
The top Disney movie worldwide? Frozen. With more and more people staying inside due the pandemic, streaming services like Netflix and Disney Plus are booming. According to CNBC, the latter is expecting to have up to 260 million subscribers by 2024, which is triple the estimated number at the time of its launch.
Disney still relies on old-line channels like ESPN and ABC for roughly a third of its operating profits — and those outlets are being maimed by cord cutting, sports programming costs and advertiser pullback.
According to US copyright law, the rights for a character expire 95 years after the publication of the original work. Disney will lose the Mickey Mouse copyright for Steamboat Willie in 2024, since the short animated film was produced and distributed in 1928.
The biggest hit to shares over the past month (a 3.6% slip) came after Disney announced plans to double investment in its parks and cruises over the next decade. The move comes amid a decline in visitors to the group's theme parks in the U.S. In its latest earnings report on Aug.
How much money did The Little Mermaid 2023 remake make or lose? The reported box office result of The Little Mermaid 2023 remake is about $560 million. On paper, these numbers look good. The film grossed over $298 million domestically and more than $263 million internationally.
According to box office analyst Valliant Renegade, Walt Disney Co. has lost nearly $900 million following its last eight studio releases, including box office flops like LIGHTYEAR and STRANGE WORLD.
The Walt Disney Company Reports Third Quarter and Nine Months Earnings for Fiscal 2023. BURBANK, Calif. —The Walt Disney Company (NYSE: DIS) today reported earnings for its third quarter and nine months ended July 1, 2023. Revenues for the quarter and nine months grew 4% and 8%, respectively.
Disney swung to a net loss of $460 million, or 25 cents per share, for the quarter ended July 1 from a net income of $1.41 billion, or 77 cents per share, during the year-ago period. Excluding those impairments, the company earned an adjusted $1.03 per share.
Disney stock has been in a steady downtrend this year as it contends with bulging content costs, while theme park traffic is bouncing back from pandemic shutdowns. Disney stock has so far faded 2.6% in 2023 through Wednesday's close.
The Walt Disney Company reported earnings results for the fourth quarter ended September 30, 2023. For the fourth quarter, the company reported sales was USD 21,241 million compared to USD 20,150 million a year ago. Net income was USD 264 million compared to USD 162 million a year ago.
In total, there are twelve different Disney Parks that are spread across six different locations. Walt Disney World in Orlando, Florida, and Disneyland Resort in Anaheim, California are the two American locations. In Europe, you'll find Disneyland Paris in Paris, France.
DiCaprio has said he was offered a large sum to be in Hocus Pocus. Nevertheless, he went with his gut and decided to decline the offer, as he was determined to get Arnie Grape's part (in What's Eating Gilbert Grape).
Ultimately, fans know that instead of Leonardo, Omri Katz went on to play Max in the 1993 classic and did a phenomenal job. As for Leonardo, he later starred in This Boy's Life and What's Eating Gilbert Grape, which hit the box office the same year as Hocus Pocus.
However, DiCaprio also knew he couldn't take the role, and felt awkward about even auditioning. Ortega explained, "He was like, 'I just feel really bad being here because I'm up for two other movies and I really want them both and I don't want to lead you on.
It lost more than the modern equivalent of $15 million and nearly drove the company into bankruptcy. It was also disastrous for Disney's reputation. Critics who loved the unpretentious folk artist were less adoring when they discovered he had pretensions after all.
The reason for Turning Red's failure was the same reason that many of Pixar's newer films have not performed well - it was released simultaneously on Disney+. This meant that audiences could watch it from the comfort of their own homes, which obviously impacted the movie's worldwide box office results.
