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Economy

Disney Shares Plunge Nearly 10% as Bob Iger Warns about Future Profitability, Decreases Marvel Output

2024-05-08

[Breitbart] Shares of The Walt Disney Company plunged more than 9 percent Tuesday morning as CEO Bob Iger signaled that Disney still faces a tough road ahead as it continues to pull itself out of its recent financial doldrums.

Disney shares were down 9.6 percent after the company warned that next quarter might be softer than expected, especially when it comes to streaming, with Disney+ subscriptions expected to stagnate in the near term.

CEO Bob Iger nevertheless doubled-down on streaming entertainment as the future of Disney.

"We’ve said all along our path to profitability will not be linear," he told analysts on Tuesday.

"While we’re anticipating a softer third quarter, due in large part to the seasonality of our Indian sports offerings, we fully expect streaming to be a growth driver for the company in the future and we have prioritized the steps necessary to achieve this."

Iger obliquely acknowledged Disney’s problems at the box office, saying the studio will reduce the number of Marvel superhero titles it will release each year, bringing the number down to a "maximum" of three movies a year, plus two series.

Posted by:Besoeker

#11 Jar Jar is what I hear when politicians like Hillary! do their Black Revival accent.

There seems to be a bit of a interest in I, II, and III as the younglings have grown up and remember those movies were stars above what it being released now. Little Orphan Annikan flying into aircraft carrier hangers and blowing up the ship? Still better.

Better writing than Phantom Menace. Share with those younglings who are likely too young to understand talent.

Posted by: swksvolFF 2024-05-08 19:43

#10 ^ Jar Jar. AI version of Debbie Wasserface Schultz with better hair

Posted by: Frank G 2024-05-08 19:00

#9 Piloting a submarine through the center of a planet, with various fish gags, finished with a fish joke. Ugggh.

Posted by: swksvolFF 2024-05-08 18:58

#8 Watch the re-release of Phantom Menace do better than all three recent ones combined.

Jar Jar. Pod Racing scene. Strange racial undertones. Not a compliment DEIsney.

Posted by: swksvolFF 2024-05-08 18:57

#7 So just how high can they jack up prices to the Disney theme parks? I think we're about to find out.

Posted by: Tom 2024-05-08 14:02

#6 “And the IP that we’re mining, including all the sequels that we’re doing, is second to none,”

Last I heard it went past 12.5% drop. But here's the good news stockholders. Disney dominated 4 of the top 5 flops last year, so if they only release 3 movies it will be an improvement.

Posted by: swksvolFF 2024-05-08 12:18

#5 RETRO

Disney-DeSantis settlement humiliates past pro-Disney headlines: Media 'as usual' were wrong

Posted by: Skidmark 2024-05-08 10:53

#4 Now mind you, they just fought off a shareholder's uprising on the basis of "we're doing so well". Couldn't maintain the fantasy for two whole weeks.

Posted by: ed in texas 2024-05-08 09:21

#3 Attended a convention near the Disney entrance a week or so ago. Heading east on 192 outside the entrance later on Sunday morning, I didn't see the back up of vehicles I usually observed waiting to get into the Magic Kingdom I had seen years before.

Posted by: Procopius2k 2024-05-08 07:18

#2 "Our appeal is getting more selective"

Posted by: Frank G 2024-05-08 05:32

Thanks for the 'heads up' Bob.

Posted by: Besoeker 2024-05-08 05:32

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